Oak Asset Management LLC Decreases Stock Holdings in McDonald’s Co. (NYSE:MCD)

Oak Asset Management LLC cut its stake in McDonald’s Co. (NYSE:MCD) by 1.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,434 shares of the fast-food giant’s stock after selling 181 shares during the period. McDonald’s makes up about 2.0% of Oak Asset Management LLC’s holdings, making the stock its 13th largest holding. Oak Asset Management LLC’s holdings in McDonald’s were worth $5,344,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in MCD. Legacy Investment Solutions LLC purchased a new position in shares of McDonald’s during the 3rd quarter worth $25,000. RPg Family Wealth Advisory LLC purchased a new position in McDonald’s during the third quarter worth about $31,000. Hara Capital LLC acquired a new position in McDonald’s in the 3rd quarter valued at about $44,000. Peterson Financial Group Inc. purchased a new stake in shares of McDonald’s in the 3rd quarter valued at approximately $58,000. Finally, FSA Wealth Management LLC acquired a new stake in shares of McDonald’s during the 3rd quarter worth approximately $72,000. Hedge funds and other institutional investors own 70.29% of the company’s stock.

McDonald’s Trading Up 0.3 %

McDonald’s stock opened at $283.20 on Tuesday. The stock has a market capitalization of $202.95 billion, a price-to-earnings ratio of 24.86, a PEG ratio of 3.95 and a beta of 0.73. The stock has a 50 day moving average of $293.75 and a two-hundred day moving average of $286.65. McDonald’s Co. has a twelve month low of $243.53 and a twelve month high of $317.90.

McDonald’s (NYSE:MCD) last announced its quarterly earnings data on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts’ expectations of $6.82 billion. During the same period in the previous year, the company posted $3.19 EPS. McDonald’s’s revenue was up 2.7% compared to the same quarter last year. Equities analysts predict that McDonald’s Co. will post 11.75 earnings per share for the current year.

Insider Buying and Selling

In other McDonald’s news, insider Joseph M. Erlinger sold 1,099 shares of the business’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $292.38, for a total transaction of $321,325.62. Following the sale, the insider now directly owns 10,385 shares in the company, valued at approximately $3,036,366.30. The trade was a 9.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Marion K. Gross sold 1,499 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $290.95, for a total value of $436,134.05. Following the completion of the sale, the executive vice president now directly owns 1,560 shares in the company, valued at $453,882. This trade represents a 49.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 9,704 shares of company stock valued at $2,829,428 over the last ninety days. Corporate insiders own 0.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. JPMorgan Chase & Co. upped their price objective on McDonald’s from $270.00 to $290.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Bank of America raised their price objective on McDonald’s from $321.00 to $324.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group upped their target price on shares of McDonald’s from $284.00 to $325.00 and gave the company a “neutral” rating in a research report on Tuesday, September 24th. Loop Capital reiterated a “buy” rating and set a $342.00 price target on shares of McDonald’s in a research report on Friday, January 3rd. Finally, 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 note 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, McDonald’s currently has a consensus rating of “Moderate Buy” and an average target price of $321.39.

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.