Cove Private Wealth LLC Grows Stock Holdings in McDonald’s Co. (NYSE:MCD)

Cove Private Wealth LLC boosted its holdings in McDonald’s Co. (NYSE:MCD) by 4.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,657 shares of the fast-food giant’s stock after buying an additional 107 shares during the quarter. Cove Private Wealth LLC’s holdings in McDonald’s were worth $770,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. International Assets Investment Management LLC lifted its position in McDonald’s by 31,151.1% in the third quarter. International Assets Investment Management LLC now owns 2,319,142 shares of the fast-food giant’s stock valued at $706,202,000 after acquiring an additional 2,311,721 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec increased its position in shares of McDonald’s by 542.9% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 801,858 shares of the fast-food giant’s stock worth $244,174,000 after purchasing an additional 677,139 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of McDonald’s in the 3rd quarter valued at about $121,254,000. Ameriprise Financial Inc. boosted its position in shares of McDonald’s by 8.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 4,761,625 shares of the fast-food giant’s stock valued at $1,216,677,000 after purchasing an additional 354,196 shares during the period. Finally, Zurich Insurance Group Ltd FI grew its stake in McDonald’s by 3,580.1% during the 3rd quarter. Zurich Insurance Group Ltd FI now owns 268,650 shares of the fast-food giant’s stock worth $81,807,000 after buying an additional 261,350 shares during the last quarter. 70.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on MCD shares. KeyCorp boosted their price objective on McDonald’s from $305.00 to $330.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Guggenheim downgraded shares of McDonald’s from a “buy” rating to a “neutral” rating and reduced their price target for the company from $290.00 to $285.00 in a research report on Wednesday, October 23rd. Argus raised shares of McDonald’s from a “hold” rating to a “buy” rating in a research report on Tuesday, October 8th. Bank of America upped their target price on shares of McDonald’s from $321.00 to $324.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Finally, Wedbush reissued an “outperform” rating and set a $295.00 price target on shares of McDonald’s in a report on Wednesday, October 23rd. Ten equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $321.39.

Insider Activity at McDonald’s

In other news, insider Joseph M. Erlinger sold 1,099 shares of the stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $292.38, for a total value of $321,325.62. Following the sale, the insider now directly owns 10,385 shares in the company, valued at $3,036,366.30. This represents a 9.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Marion K. Gross sold 1,499 shares of McDonald’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $294.51, for a total value of $441,470.49. Following the transaction, the executive vice president now owns 1,560 shares of the company’s stock, valued at $459,435.60. This represents a 49.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 9,704 shares of company stock valued at $2,829,428. Insiders own 0.23% of the company’s stock.

McDonald’s Price Performance

Shares of NYSE:MCD opened at $280.90 on Monday. McDonald’s Co. has a 12 month low of $243.53 and a 12 month high of $317.90. The firm has a market capitalization of $201.30 billion, a price-to-earnings ratio of 24.66, a price-to-earnings-growth ratio of 3.67 and a beta of 0.73. The business’s 50 day simple moving average is $292.54 and its 200-day simple moving average is $287.24.

McDonald’s (NYSE:MCD) last posted its earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share for the quarter, beating the consensus estimate of $3.18 by $0.05. The company had revenue of $6.87 billion for the quarter, compared to analyst estimates of $6.82 billion. McDonald’s had a negative return on equity of 175.42% and a net margin of 31.79%. McDonald’s’s revenue was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.19 earnings per share. On average, equities analysts anticipate 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.