Centric Wealth Management Acquires 107 Shares of McDonald’s Co. (NYSE:MCD)

Centric Wealth Management lifted its holdings in shares of McDonald’s Co. (NYSE:MCD) by 2.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,467 shares of the fast-food giant’s stock after purchasing an additional 107 shares during the period. Centric Wealth Management’s holdings in McDonald’s were worth $1,277,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Peddock Capital Advisors LLC raised its stake in shares of McDonald’s by 2.5% during the 4th quarter. Peddock Capital Advisors LLC now owns 9,203 shares of the fast-food giant’s stock worth $2,729,000 after purchasing an additional 226 shares during the period. Charles Schwab Investment Advisory Inc. bought a new stake in shares of McDonald’s during the 4th quarter worth $266,000. Charles Schwab Investment Management Inc. raised its stake in shares of McDonald’s by 0.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,425,674 shares of the fast-food giant’s stock worth $1,589,073,000 after purchasing an additional 35,639 shares during the period. Capital Performance Advisors LLP purchased a new stake in McDonald’s in the 4th quarter worth about $216,000. Finally, Peregrine Asset Advisers Inc. increased its holdings in McDonald’s by 20.5% in the 4th quarter. Peregrine Asset Advisers Inc. now owns 2,354 shares of the fast-food giant’s stock worth $698,000 after acquiring an additional 401 shares during the last quarter. 70.29% of the stock is currently owned by institutional investors.

McDonald’s Stock Performance

NYSE:MCD traded up $0.61 during mid-day trading on Wednesday, reaching $268.11. The stock had a trading volume of 2,053,856 shares, compared to its average volume of 3,294,323. The firm has a 50 day moving average price of $278.43 and a two-hundred day moving average price of $282.90. The stock has a market capitalization of $193.31 billion, a P/E ratio of 22.74, a P/E/G ratio of 3.01 and a beta of 0.71. McDonald’s Co. has a one year low of $245.73 and a one year high of $302.39.

McDonald’s (NYSE:MCD) last released its earnings results on Tuesday, April 30th. The fast-food giant reported $2.70 earnings per share for the quarter, missing analysts’ consensus estimates of $2.71 by ($0.01). The firm had revenue of $6.17 billion during the quarter, compared to the consensus estimate of $6.16 billion. McDonald’s had a negative return on equity of 180.54% and a net margin of 33.36%. The business’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.63 EPS. Research analysts forecast that McDonald’s Co. will post 12.18 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Joseph M. Erlinger sold 1,098 shares of the business’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $276.64, for a total value of $303,750.72. Following the completion of the sale, the insider now owns 16,977 shares in the company, valued at approximately $4,696,517.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other McDonald’s news, insider Joseph M. Erlinger sold 1,099 shares of the business’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $284.38, for a total value of $312,533.62. Following the completion of the sale, the insider now owns 18,075 shares in the company, valued at $5,140,168.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Joseph M. Erlinger sold 1,098 shares of the business’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $276.64, for a total value of $303,750.72. Following the completion of the sale, the insider now owns 16,977 shares of the company’s stock, valued at approximately $4,696,517.28. The disclosure for this sale can be found here. 0.23% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on MCD shares. Royal Bank of Canada decreased their price objective on McDonald’s from $340.00 to $335.00 and set an “outperform” rating for the company in a report on Tuesday, February 6th. Truist Financial decreased their price objective on McDonald’s from $337.00 to $320.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. JPMorgan Chase & Co. decreased their price objective on McDonald’s from $300.00 to $290.00 and set an “overweight” rating for the company in a report on Wednesday, May 1st. Evercore ISI reissued an “outperform” rating and issued a $330.00 price objective on shares of McDonald’s in a report on Wednesday, March 27th. Finally, Stifel Nicolaus decreased their price objective on McDonald’s from $315.00 to $300.00 and set a “hold” rating for the company in a report on Thursday, April 11th. Nine equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $317.74.

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.