Edge Wealth Management LLC Sells 337 Shares of McDonald’s Co. (NYSE:MCD)

Edge Wealth Management LLC reduced its position in McDonald’s Co. (NYSE:MCD) by 1.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,671 shares of the fast-food giant’s stock after selling 337 shares during the quarter. McDonald’s makes up about 1.4% of Edge Wealth Management LLC’s investment portfolio, making the stock its 25th largest holding. Edge Wealth Management LLC’s holdings in McDonald’s were worth $7,152,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. American Century Companies Inc. grew its position in shares of McDonald’s by 1.9% during the second 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 in the last quarter. Mercer Global Advisors Inc. ADV boosted its stake in McDonald’s by 2.9% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 134,806 shares of the fast-food giant’s stock worth $34,282,000 after purchasing an additional 3,799 shares during the period. Miramar Capital LLC grew its holdings in McDonald’s by 26.0% during the 2nd quarter. Miramar Capital LLC now owns 53,691 shares of the fast-food giant’s stock valued at $13,683,000 after buying an additional 11,081 shares in the last quarter. Optimist Retirement Group LLC raised its position in shares of McDonald’s by 4.5% during 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 buying an additional 296 shares during the last quarter. Finally, UP Strategic Wealth Investment Advisors LLC lifted its holdings 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 worth $353,000 after buying an additional 112 shares in the last quarter. 70.29% of the stock is currently owned by institutional investors.

McDonald’s Trading Down 1.0 %

Shares of MCD opened at $279.56 on Friday. The firm has a fifty day moving average price of $293.20 and a 200-day moving average price of $286.80. The firm has a market capitalization of $200.34 billion, a P/E ratio of 24.54, a P/E/G ratio of 3.67 and a beta of 0.73. McDonald’s Co. has a 12-month low of $243.53 and a 12-month high of $317.90.

McDonald’s (NYSE:MCD) last issued its earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 EPS for the quarter, topping 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 business 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 firm earned $3.19 EPS. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. Analysts predict that McDonald’s Co. will post 11.73 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on MCD shares. Robert W. Baird cut shares of McDonald’s from an “outperform” rating to a “neutral” rating and cut their target price for the company from $320.00 to $290.00 in a research note on Wednesday, October 23rd. Evercore ISI raised their price objective on McDonald’s from $320.00 to $340.00 and gave the company an “outperform” rating in a research report on Tuesday, October 15th. Argus upgraded McDonald’s from a “hold” rating to a “buy” rating in a research report on Tuesday, October 8th. UBS Group raised their price target on McDonald’s from $305.00 to $345.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Finally, Baird R W cut McDonald’s from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Ten analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat, McDonald’s presently has a consensus rating of “Moderate Buy” and an average price target of $321.39.

Insider Buying and Selling

In other McDonald’s news, EVP Marion K. Gross sold 1,499 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $294.51, for a total transaction of $441,470.49. Following the transaction, the executive vice president now directly owns 1,560 shares in the company, valued at $459,435.60. This represents a 49.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Joseph M. Erlinger sold 1,099 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The shares were 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 $3,036,366.30. This trade represents a 9.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,704 shares of company stock valued at $2,829,428 over the last quarter. 0.23% of the stock is owned by corporate insiders.

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.