Perigon Wealth Management LLC Acquires 5,745 Shares of McDonald’s Co. (NYSE:MCD)

Perigon Wealth Management LLC increased its holdings in McDonald’s Co. (NYSE:MCD) by 10.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 62,265 shares of the fast-food giant’s stock after buying an additional 5,745 shares during the period. Perigon Wealth Management LLC’s holdings in McDonald’s were worth $17,418,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of MCD. Legacy Investment Solutions LLC bought a new position in shares of McDonald’s in the third quarter worth $25,000. RPg Family Wealth Advisory LLC bought a new position in McDonald’s in the 3rd quarter worth about $31,000. Hara Capital LLC purchased a new position in McDonald’s during the 3rd quarter valued at about $44,000. Peterson Financial Group Inc. bought a new stake in shares of McDonald’s during the third quarter valued at about $58,000. Finally, FSA Wealth Management LLC purchased a new stake in shares of McDonald’s in the third quarter worth about $72,000. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

McDonald’s Stock Performance

NYSE:MCD opened at $293.16 on Tuesday. McDonald’s Co. has a fifty-two week low of $243.53 and a fifty-two week high of $317.90. The firm has a market cap of $210.08 billion, a PE ratio of 25.74, a price-to-earnings-growth ratio of 3.66 and a beta of 0.73. The business has a 50 day moving average price of $291.07 and a 200-day moving average price of $288.70.

McDonald’s (NYSE:MCD) last announced its quarterly earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.18 by $0.05. The business had revenue of $6.87 billion for the quarter, compared to analyst estimates of $6.82 billion. McDonald’s had a net margin of 31.79% and a negative return on equity of 175.42%. The company’s revenue was up 2.7% on a year-over-year basis. During the same quarter last year, the firm earned $3.19 EPS. Research analysts predict that McDonald’s Co. will post 11.72 EPS for the current year.

Wall Street Analysts Forecast Growth

MCD has been the subject of several recent analyst reports. Guggenheim cut shares of McDonald’s from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $290.00 to $285.00 in a research note on Wednesday, October 23rd. Evercore ISI boosted their price target on shares of McDonald’s from $320.00 to $340.00 and gave the company an “outperform” rating in a research report on Tuesday, October 15th. Bank of America increased their price objective on McDonald’s from $321.00 to $324.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. TD Cowen restated a “hold” rating and issued a $300.00 target price on shares of McDonald’s in a research note on Tuesday, October 29th. Finally, Barclays lifted their price target on McDonald’s from $300.00 to $325.00 and gave the company an “overweight” rating in a research report on Tuesday, October 22nd. Ten equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, McDonald’s has an average rating of “Moderate Buy” and an average target price of $320.87.

Insider Buying and Selling

In related news, insider Joseph M. Erlinger sold 300 shares of McDonald’s stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $280.75, for a total value of $84,225.00. Following the sale, the insider now owns 7,887 shares in the company, valued at $2,214,275.25. The trade was a 3.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Desiree Ralls-Morrison sold 3,409 shares of the company’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $290.15, for a total transaction of $989,121.35. Following the completion of the transaction, the executive vice president now owns 9,675 shares of the company’s stock, valued at $2,807,201.25. This trade represents a 26.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 8,905 shares of company stock valued at $2,592,327 over the last ninety days. 0.23% of the stock is owned by insiders.

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.