Bennett Associates Wealth Management Acquires 171 Shares of McDonald’s Co. (NYSE:MCD)

Bennett Associates Wealth Management lifted its position in shares of McDonald’s Co. (NYSE:MCD) by 22.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 922 shares of the fast-food giant’s stock after purchasing an additional 171 shares during the period. Bennett Associates Wealth Management’s holdings in McDonald’s were worth $267,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in MCD. American Century Companies Inc. lifted its holdings in McDonald’s by 1.9% during the 2nd quarter. American Century Companies Inc. now owns 48,190 shares of the fast-food giant’s stock worth $12,281,000 after purchasing an additional 915 shares during the last quarter. Mercer Global Advisors Inc. ADV lifted its holdings in shares of McDonald’s by 2.9% during the second quarter. Mercer Global Advisors Inc. ADV now owns 134,806 shares of the fast-food giant’s stock worth $34,282,000 after buying an additional 3,799 shares in the last quarter. Miramar Capital LLC lifted its holdings in shares of McDonald’s by 26.0% during the second quarter. Miramar Capital LLC now owns 53,691 shares of the fast-food giant’s stock worth $13,683,000 after buying an additional 11,081 shares in the last quarter. Optimist Retirement Group LLC grew its stake in shares of McDonald’s by 4.5% in the second quarter. Optimist Retirement Group LLC now owns 6,876 shares of the fast-food giant’s stock valued at $1,752,000 after acquiring an additional 296 shares in the last quarter. Finally, UP Strategic Wealth Investment Advisors LLC grew its stake in shares of McDonald’s by 8.8% in the second quarter. UP Strategic Wealth Investment Advisors LLC now owns 1,387 shares of the fast-food giant’s stock valued at $353,000 after acquiring an additional 112 shares in the last quarter. 70.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MCD has been the topic of a number of analyst reports. KeyCorp increased their target price on shares of McDonald’s from $305.00 to $330.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Wedbush reaffirmed an “outperform” rating and issued a $295.00 price objective on shares of McDonald’s in a report on Wednesday, October 23rd. Baird R W downgraded McDonald’s from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. TD Cowen restated a “hold” rating and issued a $300.00 price target on shares of McDonald’s in a research report on Tuesday, October 29th. Finally, Barclays increased their price objective on shares of McDonald’s from $300.00 to $325.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 22nd. Ten equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $321.39.

Insider Activity at McDonald’s

In other McDonald’s news, EVP Marion K. Gross sold 1,499 shares of the company’s stock in a transaction dated 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 directly owns 1,560 shares of the company’s stock, valued at approximately $459,435.60. This represents a 49.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Joseph M. Erlinger sold 1,099 shares of McDonald’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $292.38, for a total transaction of $321,325.62. Following the transaction, the insider now directly owns 10,385 shares in the company, valued at approximately $3,036,366.30. This represents a 9.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 9,704 shares of company stock valued at $2,829,428 in the last three months. Corporate insiders own 0.23% of the company’s stock.

McDonald’s Stock Down 1.0 %

MCD opened at $279.56 on Friday. The stock has a market cap of $200.34 billion, a PE ratio of 24.54, a price-to-earnings-growth ratio of 3.67 and a beta of 0.73. McDonald’s Co. has a twelve month low of $243.53 and a twelve month high of $317.90. The company has a fifty day moving average of $293.20 and a 200-day moving average of $286.80.

McDonald’s (NYSE:MCD) last announced its quarterly earnings data on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $6.87 billion for the quarter, compared to the consensus estimate of $6.82 billion. During the same period in the previous year, the business earned $3.19 EPS. The firm’s revenue was up 2.7% compared to the same quarter last year. Sell-side analysts anticipate that McDonald’s Co. will post 11.73 EPS for the current fiscal year.

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.