Brookmont Capital Management Reduces Position in McDonald’s Co. (NYSE:MCD)

Brookmont Capital Management lessened its position in McDonald’s Co. (NYSE:MCD) by 2.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,248 shares of the fast-food giant’s stock after selling 359 shares during the quarter. McDonald’s comprises about 2.4% of Brookmont Capital Management’s investment portfolio, making the stock its 9th biggest position. Brookmont Capital Management’s holdings in McDonald’s were worth $4,420,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Kennebec Savings Bank bought a new position in shares of McDonald’s during the 3rd quarter worth about $1,394,000. Charles Schwab Investment Management Inc. increased its holdings in shares of McDonald’s by 0.9% during the 3rd 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 purchasing an additional 49,106 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in shares of McDonald’s by 58.9% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 138,102 shares of the fast-food giant’s stock worth $35,194,000 after purchasing an additional 51,210 shares during the period. U.S. Capital Wealth Advisors LLC increased its holdings in shares of McDonald’s by 6.5% during the 3rd quarter. U.S. Capital Wealth Advisors LLC now owns 49,186 shares of the fast-food giant’s stock worth $14,978,000 after purchasing an additional 2,997 shares during the period. Finally, Weiss Asset Management LP bought a new position in shares of McDonald’s during the 3rd quarter worth about $16,870,000. Institutional investors own 70.29% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on MCD. Wedbush restated an “outperform” rating and set a $295.00 price objective on shares of McDonald’s in a report on Wednesday, October 23rd. Citigroup upgraded shares of McDonald’s from a “neutral” rating to a “buy” rating and lifted their target price for the company from $311.00 to $334.00 in a research report on Friday, January 10th. Loop Capital reiterated a “buy” rating and set a $342.00 target price on shares of McDonald’s in a research report on Friday, January 3rd. Guggenheim lowered shares of McDonald’s from a “buy” rating to a “neutral” rating and decreased their target price for the company from $290.00 to $285.00 in a research report on Wednesday, October 23rd. Finally, Wells Fargo & Company lifted their target price on shares of McDonald’s from $285.00 to $350.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. Ten research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $321.39.

Insider Buying and Selling

In other McDonald’s news, EVP Marion K. Gross sold 1,499 shares of the company’s stock in a transaction that occurred on 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 owns 1,560 shares of the company’s stock, valued at approximately $459,435.60. This represents a 49.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Desiree Ralls-Morrison sold 3,409 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $290.15, for a total transaction of $989,121.35. Following the completion of the sale, the executive vice president now directly owns 9,675 shares of the company’s stock, valued at $2,807,201.25. The trade was a 26.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 9,704 shares of company stock valued at $2,829,428 over the last ninety days. Insiders own 0.23% of the company’s stock.

McDonald’s Trading Up 0.4 %

Shares of NYSE MCD opened at $280.90 on Tuesday. The company has a market cap of $201.30 billion, a PE ratio of 24.66, a P/E/G ratio of 3.65 and a beta of 0.73. The company has a 50-day moving average of $292.54 and a two-hundred day moving average of $287.50. 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 results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share for the quarter, topping analysts’ consensus estimates of $3.18 by $0.05. The business had revenue of $6.87 billion during the quarter, compared to the consensus estimate of $6.82 billion. McDonald’s had a net margin of 31.79% and a negative return on equity of 175.42%. McDonald’s’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.19 earnings per share. As a group, equities research analysts forecast that McDonald’s Co. will post 11.73 earnings per share for the current 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.