Addenda Capital Inc. Trims Stake in McDonald’s Co. (NYSE:MCD)

Addenda Capital Inc. lowered its holdings in McDonald’s Co. (NYSE:MCD) by 0.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,357 shares of the fast-food giant’s stock after selling 63 shares during the quarter. Addenda Capital Inc.’s holdings in McDonald’s were worth $6,481,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on MCD. KeyCorp raised 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. BMO Capital Markets raised their price target on McDonald’s from $315.00 to $335.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Wedbush reaffirmed an “outperform” rating and issued a $295.00 price objective on shares of McDonald’s in a research report on Wednesday, October 23rd. The Goldman Sachs Group lifted their price objective 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, Baird R W downgraded McDonald’s from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. Ten equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat.com, McDonald’s presently has a consensus rating of “Moderate Buy” and a consensus target price of $321.39.

Insider Activity

In other McDonald’s news, insider Joseph M. Erlinger sold 1,099 shares of the firm’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $292.38, for a total value of $321,325.62. Following the completion of the sale, the insider now directly owns 10,385 shares of the company’s stock, valued at $3,036,366.30. This trade represents a 9.57 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Desiree Ralls-Morrison sold 3,409 shares of the stock in a transaction on Monday, December 30th. The stock was sold at an average price of $290.15, for a total value of $989,121.35. Following the transaction, the executive vice president now owns 9,675 shares of the company’s stock, valued at approximately $2,807,201.25. This represents a 26.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 9,704 shares of company stock worth $2,829,428 over the last 90 days. 0.23% of the stock is currently owned by corporate insiders.

McDonald’s Stock Performance

MCD stock opened at $280.90 on Tuesday. The firm has a fifty day moving average price of $292.54 and a 200 day moving average price of $287.50. McDonald’s Co. has a fifty-two week low of $243.53 and a fifty-two week high of $317.90. The firm has a market cap of $201.30 billion, a PE ratio of 24.66, a price-to-earnings-growth ratio of 3.65 and a beta of 0.73.

McDonald’s (NYSE:MCD) last issued its earnings results 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. The firm had revenue of $6.87 billion during the quarter, compared to analyst estimates of $6.82 billion. McDonald’s had a net margin of 31.79% and a negative return on equity of 175.42%. The business’s revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the firm earned $3.19 earnings per share. On average, equities analysts predict that McDonald’s Co. will post 11.73 EPS for the current year.

McDonald’s Company 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.