McDonald’s Corporation $MCD Shares Bought by Lorne Steinberg Wealth Management Inc.

Lorne Steinberg Wealth Management Inc. lifted its holdings in shares of McDonald’s Corporation (NYSE:MCDFree Report) by 665.9% in the third quarter, HoldingsChannel.com reports. The firm owned 9,551 shares of the fast-food giant’s stock after acquiring an additional 8,304 shares during the quarter. Lorne Steinberg Wealth Management Inc.’s holdings in McDonald’s were worth $2,902,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the stock. Evergreen Private Wealth LLC lifted its position in shares of McDonald’s by 162.5% during the 3rd quarter. Evergreen Private Wealth LLC now owns 84 shares of the fast-food giant’s stock worth $26,000 after purchasing an additional 52 shares during the last quarter. Decker Retirement Planning Inc. boosted its holdings in shares of McDonald’s by 142.9% in the second quarter. Decker Retirement Planning Inc. now owns 85 shares of the fast-food giant’s stock valued at $25,000 after acquiring an additional 50 shares during the period. Legacy Investment Solutions LLC acquired a new stake in McDonald’s during the 2nd quarter worth $25,000. GFG Capital LLC purchased a new position in shares of McDonald’s during the second quarter worth about $29,000. Finally, Financial Gravity Companies Inc. acquired a new position in shares of McDonald’s in the second quarter valued at approximately $29,000. Institutional investors and hedge funds own 70.29% of the company’s stock.

Key McDonald’s News

Here are the key news stories impacting McDonald’s this week:

McDonald’s Price Performance

Shares of McDonald’s stock opened at $309.24 on Monday. McDonald’s Corporation has a 1 year low of $283.28 and a 1 year high of $326.32. The business has a 50 day moving average price of $308.87 and a 200 day moving average price of $306.02. The company has a market capitalization of $220.23 billion, a P/E ratio of 26.39, a P/E/G ratio of 3.07 and a beta of 0.53.

McDonald’s (NYSE:MCDGet Free Report) last released its quarterly earnings results on Wednesday, November 5th. The fast-food giant reported $3.22 earnings per share for the quarter, missing the consensus estimate of $3.33 by ($0.11). McDonald’s had a negative return on equity of 280.89% and a net margin of 32.04%.The company had revenue of $7.08 billion for the quarter, compared to analysts’ expectations of $7.10 billion. During the same period in the previous year, the business posted $3.23 EPS. The business’s quarterly revenue was up 3.0% on a year-over-year basis. As a group, research analysts expect that McDonald’s Corporation will post 12.25 EPS for the current fiscal year.

Wall Street Analyst Weigh In

MCD has been the subject of several recent analyst reports. TD Cowen restated a “hold” rating on shares of McDonald’s in a research note on Thursday, January 8th. Citigroup lowered their price objective on McDonald’s from $381.00 to $375.00 and set a “buy” rating on the stock in a report on Tuesday, October 21st. Wells Fargo & Company increased their target price on McDonald’s from $340.00 to $345.00 and gave the stock an “overweight” rating in a research note on Thursday, November 6th. Royal Bank Of Canada assumed coverage on McDonald’s in a research report on Wednesday, October 8th. They issued a “sector perform” rating and a $320.00 price objective for the company. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of McDonald’s in a research report on Friday, October 31st. Thirteen research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $328.88.

Get Our Latest Stock Report on MCD

Insider Buying and Selling

In related news, EVP Manuel Jm Steijaert sold 6,567 shares of the business’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $305.50, for a total value of $2,006,218.50. Following the completion of the transaction, the executive vice president owned 4,606 shares of the company’s stock, valued at approximately $1,407,133. The trade was a 58.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Joseph M. Erlinger sold 2,626 shares of the company’s stock in a transaction dated Monday, January 12th. The shares were sold at an average price of $306.58, for a total transaction of $805,079.08. Following the completion of the transaction, the insider owned 5,398 shares in the company, valued at approximately $1,654,918.84. This trade represents a 32.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 45,142 shares of company stock worth $13,841,169. 0.25% of the stock is owned by company insiders.

About McDonald’s

(Free Report)

McDonald’s Corporation (NYSE: MCD) is a global quick-service restaurant company best known for its hamburgers, French fries and breakfast offerings. The company develops, operates and franchises a system of restaurants that sell a range of food and beverage items, including signature products such as the Big Mac, Quarter Pounder, Chicken McNuggets, McCafé coffee beverages and a variety of salads, desserts and seasonal menu items. McDonald’s serves customers through company-operated restaurants and franchised locations, and it supports sales via dine-in, drive-thru, digital ordering platforms and third-party delivery partnerships.

Founded in 1940 by brothers Richard and Maurice McDonald as a single San Bernardino, California restaurant, the business was transformed into a franchising model after Ray Kroc joined in the mid-1950s and led the brand’s national and international expansion.

Further Reading

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Institutional Ownership by Quarter for McDonald's (NYSE:MCD)

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