Floyd Financial Group LLC Purchases New Shares in McDonald’s Co. (NYSE:MCD)

Floyd Financial Group LLC acquired a new position in McDonald’s Co. (NYSE:MCD) during the fourth quarter, according to the company in its most recent filing with the SEC. The fund acquired 2,274 shares of the fast-food giant’s stock, valued at approximately $642,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC acquired a new position in shares of McDonald’s in the third quarter worth about $25,000. RPg Family Wealth Advisory LLC purchased a new stake in McDonald’s during the 3rd quarter worth approximately $31,000. Hara Capital LLC acquired a new position in shares of McDonald’s in the 3rd quarter valued at approximately $44,000. Peterson Financial Group Inc. purchased a new position in shares of McDonald’s during the 3rd quarter valued at approximately $58,000. Finally, FSA Wealth Management LLC acquired a new stake in shares of McDonald’s during the third quarter worth approximately $72,000. 70.29% of the stock is owned by hedge funds and other institutional investors.

McDonald’s Trading Down 0.8 %

Shares of NYSE:MCD opened at $281.40 on Wednesday. The firm’s 50 day moving average is $293.43 and its two-hundred day moving average is $286.83. The firm has a market capitalization of $201.66 billion, a P/E ratio of 24.71, a PEG ratio of 3.95 and a beta of 0.73. McDonald’s Co. has a 52 week low of $243.53 and a 52 week high of $317.90.

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

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. TD Cowen reaffirmed a “hold” rating and issued a $300.00 price target on shares of McDonald’s in a report on Tuesday, October 29th. Baird R W lowered shares of McDonald’s from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Wells Fargo & Company lifted their price target on McDonald’s from $285.00 to $350.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. The Goldman Sachs Group upped their price objective on McDonald’s from $284.00 to $325.00 and gave the company a “neutral” rating in a research note on Tuesday, September 24th. Finally, Citigroup upgraded McDonald’s from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $311.00 to $334.00 in a research report on Friday, January 10th. Ten analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat.com, McDonald’s has a consensus rating of “Moderate Buy” and a consensus price target of $321.39.

Insider Activity

In related news, insider Joseph M. Erlinger sold 1,099 shares of the stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $292.38, for a total value of $321,325.62. Following the completion of the transaction, the insider now owns 10,385 shares in the company, valued at $3,036,366.30. This represents a 9.57 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Marion K. Gross sold 1,499 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $290.95, for a total transaction of $436,134.05. Following the sale, the executive vice president now owns 1,560 shares in the company, valued at $453,882. This trade represents a 49.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 9,704 shares of company stock valued at $2,829,428. Company 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.