Great Lakes Advisors LLC Acquires 17,673 Shares of McDonald’s Corporation $MCD

Great Lakes Advisors LLC lifted its holdings in shares of McDonald’s Corporation (NYSE:MCD) by 168.9% during the third quarter, Holdings Channel.com reports. The firm owned 28,137 shares of the fast-food giant’s stock after acquiring an additional 17,673 shares during the quarter. Great Lakes Advisors LLC’s holdings in McDonald’s were worth $8,551,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Decker Retirement Planning Inc. increased its stake 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 buying an additional 50 shares during the period. Legacy Investment Solutions LLC bought a new stake in McDonald’s in the second quarter valued at approximately $25,000. Evergreen Private Wealth LLC boosted its holdings in McDonald’s by 162.5% in the third quarter. Evergreen Private Wealth LLC now owns 84 shares of the fast-food giant’s stock valued at $26,000 after acquiring an additional 52 shares during the last quarter. GFG Capital LLC acquired a new stake in McDonald’s during the 2nd quarter valued at approximately $29,000. Finally, Financial Gravity Companies Inc. bought a new position in McDonald’s during the 2nd quarter worth approximately $29,000. 70.29% of the stock is currently owned by institutional investors and hedge funds.

McDonald’s Price Performance

Shares of MCD opened at $315.17 on Friday. McDonald’s Corporation has a one year low of $283.47 and a one year high of $326.32. The company has a market cap of $224.44 billion, a PE ratio of 26.89, a P/E/G ratio of 3.16 and a beta of 0.53. The stock has a 50-day moving average of $309.64 and a 200-day moving average of $306.32.

McDonald’s (NYSE:MCD) last announced its quarterly earnings results on Wednesday, November 5th. The fast-food giant reported $3.22 earnings per share (EPS) 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 firm had revenue of $7.08 billion during the quarter, compared to the consensus estimate of $7.10 billion. During the same quarter in the previous year, the company posted $3.23 EPS. The firm’s revenue was up 3.0% on a year-over-year basis. Analysts expect that McDonald’s Corporation will post 12.25 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

MCD has been the topic of a number of analyst reports. Barclays upped their price objective on shares of McDonald’s from $358.00 to $372.00 and gave the company an “overweight” rating in a research note on Wednesday, January 7th. Guggenheim increased their price target on McDonald’s from $295.00 to $310.00 and gave the stock a “neutral” rating in a report on Wednesday, November 19th. BMO Capital Markets reissued an “outperform” rating on shares of McDonald’s in a research report on Thursday, November 6th. BTIG Research restated a “neutral” rating on shares of McDonald’s in a research report on Friday, October 24th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of McDonald’s in a research note on Wednesday. Thirteen investment analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $328.88.

Insider Transactions at McDonald’s

In other McDonald’s news, insider Joseph M. Erlinger sold 3,195 shares of the company’s stock in a transaction on Friday, November 14th. The shares were sold at an average price of $305.82, for a total transaction of $977,094.90. Following the transaction, the insider owned 6,088 shares in the company, valued at approximately $1,861,832.16. This represents a 34.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Ian Frederick Borden sold 17,134 shares of McDonald’s stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $310.00, for a total transaction of $5,311,540.00. Following the transaction, the chief financial officer owned 26,353 shares of the company’s stock, valued at $8,169,430. This represents a 39.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 45,142 shares of company stock valued at $13,841,169 in the last 90 days. 0.25% of the stock is currently owned by company insiders.

About McDonald’s

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.