Fortitude Family Office LLC Has $1.22 Million Stock Position in McDonald’s Co. (NYSE:MCD)

Fortitude Family Office LLC lifted its stake in shares of McDonald’s Co. (NYSE:MCD) by 39.4% in the 4th quarter, Holdings Channel reports. The fund owned 4,214 shares of the fast-food giant’s stock after acquiring an additional 1,190 shares during the quarter. Fortitude Family Office LLC’s holdings in McDonald’s were worth $1,222,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Kennebec Savings Bank bought a new position in McDonald’s during the 3rd quarter worth about $1,394,000. Charles Schwab Investment Management Inc. grew its holdings in shares of McDonald’s by 0.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 5,564,359 shares of the fast-food giant’s stock worth $1,694,403,000 after buying an additional 49,106 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in McDonald’s by 58.9% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 138,102 shares of the fast-food giant’s stock valued at $35,194,000 after buying an additional 51,210 shares during the last quarter. U.S. Capital Wealth Advisors LLC lifted its stake in McDonald’s by 6.5% in the 3rd quarter. U.S. Capital Wealth Advisors LLC now owns 49,186 shares of the fast-food giant’s stock valued at $14,978,000 after acquiring an additional 2,997 shares in the last quarter. Finally, Weiss Asset Management LP acquired a new position in McDonald’s during the 3rd quarter worth approximately $16,870,000. Institutional investors own 70.29% of the company’s stock.

McDonald’s Trading Down 0.9 %

Shares of NYSE MCD opened at $286.79 on Friday. The business’s 50 day moving average is $294.20 and its 200-day moving average is $285.92. The firm has a market cap of $205.52 billion, a P/E ratio of 25.18, a price-to-earnings-growth ratio of 3.95 and a beta of 0.73. McDonald’s Co. has a 1-year low of $243.53 and a 1-year high of $317.90.

McDonald’s (NYSE:MCD) last posted its quarterly earnings data on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share for the quarter, topping the consensus estimate of $3.18 by $0.05. The firm had revenue of $6.87 billion for the quarter, compared to analysts’ expectations of $6.82 billion. McDonald’s had a negative return on equity of 175.42% and a net margin of 31.79%. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the business earned $3.19 EPS. Analysts forecast that McDonald’s Co. will post 11.75 EPS for the current year.

Insider Buying and Selling

In related news, CMO Edith Morgan Flatley sold 2,346 shares of the stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $310.00, for a total transaction of $727,260.00. Following the sale, the chief marketing officer now owns 2,905 shares of the company’s stock, valued at $900,550. This represents a 44.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Marion K. Gross sold 1,499 shares of McDonald’s stock in a transaction on Thursday, January 2nd. The shares were 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 $453,882. This represents a 49.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 12,050 shares of company stock valued at $3,556,688. 0.23% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Argus upgraded shares of McDonald’s from a “hold” rating to a “buy” rating in a report on Tuesday, October 8th. KeyCorp lifted their price target on shares of McDonald’s from $305.00 to $330.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Morgan Stanley increased their price objective on shares of McDonald’s from $296.00 to $340.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 15th. The Goldman Sachs Group lifted their target price on McDonald’s from $284.00 to $325.00 and gave the company a “neutral” rating in a research report on Tuesday, September 24th. Finally, Wedbush restated an “outperform” rating and issued a $295.00 price target on shares of McDonald’s in a research note on Wednesday, October 23rd. Eleven investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, McDonald’s presently has an average rating of “Moderate Buy” and a consensus price target of $320.65.

About McDonald’s

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.