AMI Asset Management Corp Sells 114 Shares of McDonald’s Co. (NYSE:MCD)

AMI Asset Management Corp cut its stake in McDonald’s Co. (NYSE:MCD) by 3.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,575 shares of the fast-food giant’s stock after selling 114 shares during the period. AMI Asset Management Corp’s holdings in McDonald’s were worth $1,036,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Steigerwald Gordon & Koch Inc. grew its position in McDonald’s by 2.4% during the third quarter. Steigerwald Gordon & Koch Inc. now owns 1,422 shares of the fast-food giant’s stock worth $433,000 after buying an additional 33 shares in the last quarter. Riversedge Advisors LLC lifted its position in shares of McDonald’s by 2.0% in the 3rd quarter. Riversedge Advisors LLC now owns 1,686 shares of the fast-food giant’s stock worth $513,000 after acquiring an additional 33 shares during the period. Proquility Private Wealth Partners LLC grew its holdings in shares of McDonald’s by 1.0% during the 3rd quarter. Proquility Private Wealth Partners LLC now owns 3,472 shares of the fast-food giant’s stock worth $1,057,000 after purchasing an additional 35 shares in the last quarter. Clear Creek Financial Management LLC increased its position in shares of McDonald’s by 2.8% during the third quarter. Clear Creek Financial Management LLC now owns 1,300 shares of the fast-food giant’s stock valued at $396,000 after purchasing an additional 35 shares during the period. Finally, GDS Wealth Management raised its stake in shares of McDonald’s by 1.4% in the third quarter. GDS Wealth Management now owns 2,504 shares of the fast-food giant’s stock valued at $762,000 after purchasing an additional 35 shares in the last quarter. 70.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Evercore ISI boosted their price target on shares of McDonald’s from $320.00 to $340.00 and gave the company an “outperform” rating in a report on Tuesday, October 15th. Bank of America increased their price target on shares of McDonald’s from $321.00 to $324.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Loop Capital reaffirmed a “buy” rating and set a $342.00 price objective on shares of McDonald’s in a report on Friday, January 3rd. KeyCorp increased their target price on McDonald’s from $305.00 to $330.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Finally, BMO Capital Markets raised their target price on McDonald’s from $315.00 to $335.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Ten investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $321.22.

Insider Buying and Selling at McDonald’s

In other news, EVP Marion K. Gross sold 1,499 shares of the company’s stock in a transaction dated Friday, November 1st. The stock was 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 $459,435.60. This represents a 49.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Desiree Ralls-Morrison sold 3,409 shares of the 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 owns 9,675 shares in the company, valued at $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. Over the last ninety days, insiders have sold 9,704 shares of company stock valued at $2,829,428. 0.23% of the stock is currently owned by insiders.

McDonald’s Stock Up 0.4 %

MCD stock opened at $280.90 on Tuesday. The business has a fifty day moving average of $292.12 and a 200-day moving average of $287.72. The company has a market cap of $201.30 billion, a P/E ratio of 24.66, a PEG ratio of 3.65 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.

McDonald’s (NYSE:MCD) last released 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. McDonald’s had a net margin of 31.79% and a negative return on equity of 175.42%. 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 prior year, the company posted $3.19 EPS. The company’s revenue was up 2.7% compared to the same quarter last year. As a group, equities research analysts anticipate that McDonald’s Co. will post 11.73 earnings per share for the current fiscal year.

About McDonald’s

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.