Jericho Financial LLP Makes New Investment in McDonald’s Co. (NYSE:MCD)

Jericho Financial LLP purchased a new stake in shares of McDonald’s Co. (NYSE:MCD) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 12,993 shares of the fast-food giant’s stock, valued at approximately $3,767,000. McDonald’s comprises approximately 2.7% of Jericho Financial LLP’s portfolio, making the stock its 18th largest holding.

A number of other hedge funds have also modified their holdings of MCD. Steigerwald Gordon & Koch Inc. increased its position in McDonald’s by 2.4% in the 3rd quarter. Steigerwald Gordon & Koch Inc. now owns 1,422 shares of the fast-food giant’s stock worth $433,000 after purchasing an additional 33 shares during the last quarter. Riversedge Advisors LLC grew its stake in shares of McDonald’s by 2.0% in the 3rd quarter. Riversedge Advisors LLC now owns 1,686 shares of the fast-food giant’s stock valued at $513,000 after buying an additional 33 shares in the last quarter. Proquility Private Wealth Partners LLC increased its holdings in McDonald’s by 1.0% in the third quarter. Proquility Private Wealth Partners LLC now owns 3,472 shares of the fast-food giant’s stock worth $1,057,000 after buying an additional 35 shares during the last quarter. Clear Creek Financial Management LLC raised its position in McDonald’s by 2.8% during the third quarter. Clear Creek Financial Management LLC now owns 1,300 shares of the fast-food giant’s stock valued at $396,000 after acquiring an additional 35 shares in the last quarter. Finally, GDS Wealth Management lifted its stake in McDonald’s by 1.4% in the third quarter. GDS Wealth Management now owns 2,504 shares of the fast-food giant’s stock valued at $762,000 after acquiring an additional 35 shares during the last quarter. 70.29% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Marion K. Gross sold 1,499 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $290.95, for a total value of $436,134.05. Following the completion of the transaction, the executive vice president now directly owns 1,560 shares of the company’s stock, valued at approximately $453,882. This represents a 49.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Joseph M. Erlinger sold 1,099 shares of the business’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $291.10, for a total value of $319,918.90. Following the completion of the sale, the insider now directly owns 8,187 shares in the company, valued at approximately $2,383,235.70. This represents a 11.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,406 shares of company stock worth $2,150,857 over the last 90 days. Corporate insiders own 0.23% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. KeyCorp dropped their price target 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, January 24th. Guggenheim downgraded shares of McDonald’s from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $290.00 to $285.00 in a research report on Wednesday, October 23rd. Citigroup boosted their price target on McDonald’s from $334.00 to $336.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th. Argus raised McDonald’s from a “hold” rating to a “buy” rating in a report on Tuesday, October 8th. Finally, Baird R W lowered McDonald’s from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Eleven analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $319.58.

McDonald’s Trading Down 0.0 %

MCD opened at $290.00 on Wednesday. The stock’s 50 day simple moving average is $291.00 and its 200-day simple moving average is $290.15. The stock has a market cap of $207.82 billion, a PE ratio of 25.46, a P/E/G ratio of 3.83 and a beta of 0.74. McDonald’s Co. has a 1 year low of $243.53 and a 1 year high of $317.90.

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.