Red Door Wealth Management LLC Has $1.63 Million Holdings in McDonald’s Co. (NYSE:MCD)

Red Door Wealth Management LLC boosted its holdings in McDonald’s Co. (NYSE:MCD) by 71.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 5,615 shares of the fast-food giant’s stock after acquiring an additional 2,349 shares during the period. Red Door Wealth Management LLC’s holdings in McDonald’s were worth $1,628,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the business. Geode Capital Management LLC boosted its stake in shares of McDonald’s by 1.4% in the third quarter. Geode Capital Management LLC now owns 15,916,980 shares of the fast-food giant’s stock valued at $4,833,510,000 after buying an additional 220,365 shares during the period. Wellington Management Group LLP lifted its position in shares of McDonald’s by 0.9% during the 3rd quarter. Wellington Management Group LLP now owns 15,082,894 shares of the fast-food giant’s stock valued at $4,592,892,000 after acquiring an additional 128,800 shares during the period. Legal & General Group Plc grew its holdings in shares of McDonald’s by 3.2% during the 2nd quarter. Legal & General Group Plc now owns 6,149,080 shares of the fast-food giant’s stock worth $1,567,030,000 after purchasing an additional 188,888 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of McDonald’s by 0.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,564,359 shares of the fast-food giant’s stock worth $1,694,403,000 after purchasing an additional 49,106 shares during the period. Finally, Ameriprise Financial Inc. raised its stake in McDonald’s by 8.0% in the second 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 in the last quarter. Institutional investors own 70.29% of the company’s stock.

McDonald’s Stock Up 1.1 %

MCD opened at $284.49 on Friday. McDonald’s Co. has a twelve month low of $243.53 and a twelve month high of $317.90. The company has a fifty day moving average of $291.49 and a 200-day moving average of $287.90. The stock has a market cap of $203.87 billion, a PE ratio of 24.98, a price-to-earnings-growth ratio of 3.68 and a beta of 0.73.

McDonald’s (NYSE:MCD) last issued its quarterly earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share for the quarter, topping analysts’ consensus estimates of $3.18 by $0.05. The firm had revenue of $6.87 billion during the quarter, compared to the consensus estimate of $6.82 billion. McDonald’s had a negative return on equity of 175.42% and a net margin of 31.79%. The business’s revenue was up 2.7% compared to the same quarter last year. During the same period last year, the business posted $3.19 EPS. Sell-side analysts anticipate that McDonald’s Co. will post 11.73 EPS for the current fiscal year.

Insiders Place Their Bets

In other McDonald’s news, EVP Marion K. Gross sold 1,499 shares of McDonald’s stock in a transaction on Friday, November 1st. The shares were 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 approximately $459,435.60. The trade was a 49.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Joseph M. Erlinger sold 1,099 shares of the stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $291.10, for a total transaction of $319,918.90. Following the transaction, the insider now directly owns 8,187 shares in the company, valued at $2,383,235.70. This trade represents a 11.84 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 8,605 shares of company stock worth $2,508,102. 0.23% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on MCD shares. Wedbush reiterated an “outperform” rating and set a $295.00 price objective on shares of McDonald’s in a research note on Wednesday, October 23rd. UBS Group increased their price target on shares of McDonald’s from $305.00 to $345.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Bank of America upped their target price on McDonald’s from $321.00 to $324.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. TD Cowen reiterated a “hold” rating and issued a $300.00 price target on shares of McDonald’s in a research note on Tuesday, October 29th. Finally, Guggenheim downgraded McDonald’s from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $290.00 to $285.00 in a research report on Wednesday, October 23rd. Ten investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $321.22.

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.