Mattern Wealth Management LLC lowered its position in McDonald’s Co. (NYSE:MCD – Free Report) by 10.3% in the fourth quarter, HoldingsChannel reports. The fund owned 8,645 shares of the fast-food giant’s stock after selling 989 shares during the quarter. Mattern Wealth Management LLC’s holdings in McDonald’s were worth $2,506,000 at the end of the most recent reporting period.
Several other hedge funds have also modified their holdings of the company. Geode Capital Management LLC increased its position in shares of McDonald’s by 1.4% in the third quarter. Geode Capital Management LLC now owns 15,916,980 shares of the fast-food giant’s stock valued at $4,833,510,000 after buying an additional 220,365 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of McDonald’s by 0.9% during the third quarter. Wellington Management Group LLP now owns 15,082,894 shares of the fast-food giant’s stock worth $4,592,892,000 after buying an additional 128,800 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of McDonald’s by 0.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,564,359 shares of the fast-food giant’s stock valued at $1,694,403,000 after buying an additional 49,106 shares during the last quarter. Janus Henderson Group PLC lifted its stake in shares of McDonald’s by 0.7% in the third quarter. Janus Henderson Group PLC now owns 2,765,049 shares of the fast-food giant’s stock worth $841,966,000 after buying an additional 19,867 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its position in McDonald’s by 31,151.1% during the third quarter. International Assets Investment Management LLC now owns 2,319,142 shares of the fast-food giant’s stock worth $706,202,000 after acquiring an additional 2,311,721 shares during the last quarter. 70.29% of the stock is owned by hedge funds and other institutional investors.
McDonald’s Price Performance
NYSE MCD opened at $293.16 on Tuesday. McDonald’s Co. has a 12 month low of $243.53 and a 12 month high of $317.90. The company has a market capitalization of $210.08 billion, a price-to-earnings ratio of 25.74, a price-to-earnings-growth ratio of 3.66 and a beta of 0.73. The firm’s fifty day moving average price is $291.07 and its 200 day moving average price is $288.70.
Analysts Set New Price Targets
A number of research firms have weighed in on MCD. KeyCorp decreased their target price on shares of McDonald’s from $330.00 to $320.00 and set an “overweight” rating on the stock in a research note on Friday. UBS Group increased their price target on shares of McDonald’s from $305.00 to $345.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Wells Fargo & Company upped their price objective on McDonald’s from $285.00 to $350.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Robert W. Baird downgraded McDonald’s from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $320.00 to $290.00 in a research report on Wednesday, October 23rd. Finally, TD Cowen restated a “hold” rating and issued a $300.00 price objective on shares of McDonald’s in a report on Tuesday, October 29th. Ten investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $320.78.
Get Our Latest Stock Analysis on MCD
Insider Transactions at McDonald’s
In other news, EVP Marion K. Gross sold 1,499 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $294.51, for a total value of $441,470.49. Following the completion of the sale, the executive vice president now owns 1,560 shares in the company, valued at approximately $459,435.60. This trade represents a 49.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Joseph M. Erlinger sold 300 shares of the business’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $280.75, for a total transaction of $84,225.00. Following the transaction, the insider now owns 7,887 shares in the company, valued at approximately $2,214,275.25. This trade represents a 3.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 8,905 shares of company stock worth $2,592,327. Insiders own 0.23% of the company’s stock.
McDonald’s Profile
McDonald's Corporation operates and franchises restaurants under the McDonald's brand in the United States and internationally. It offers food and beverages, including hamburgers and cheeseburgers, various chicken sandwiches, fries, shakes, desserts, sundaes, cookies, pies, soft drinks, coffee, and other beverages; and full or limited breakfast, as well as sells various other products during limited-time promotions.
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Want to see what other hedge funds are holding MCD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for McDonald’s Co. (NYSE:MCD – Free Report).
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