Ballentine Partners LLC Boosts Stake in McDonald’s Co. (NYSE:MCD)

by · The Cerbat Gem

Ballentine Partners LLC lifted its holdings in McDonald’s Co. (NYSE:MCD – Free Report) by 0.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,208 shares of the fast-food giant’s stock after purchasing an additional 151 shares during the period. Ballentine Partners LLC’s holdings in McDonald’s were worth $4,988,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Steigerwald Gordon & Koch Inc. boosted its holdings in shares of McDonald’s by 2.4% in the 3rd quarter. Steigerwald Gordon & Koch Inc. now owns 1,422 shares of the fast-food giant’s stock valued at $433,000 after purchasing an additional 33 shares during the last quarter. Riversedge Advisors LLC raised its position in shares of McDonald’s by 2.0% in the 3rd quarter. Riversedge Advisors LLC now owns 1,686 shares of the fast-food giant’s stock worth $513,000 after buying an additional 33 shares during the period. Proquility Private Wealth Partners LLC boosted its holdings in McDonald’s by 1.0% in the third quarter. Proquility Private Wealth Partners LLC now owns 3,472 shares of the fast-food giant’s stock valued at $1,057,000 after acquiring an additional 35 shares during the last quarter. Clear Creek Financial Management LLC grew its position in McDonald’s by 2.8% during the third quarter. Clear Creek Financial Management LLC now owns 1,300 shares of the fast-food giant’s stock valued at $396,000 after acquiring an additional 35 shares during the period. Finally, GDS Wealth Management increased its stake in McDonald’s by 1.4% during the third quarter. GDS Wealth Management now owns 2,504 shares of the fast-food giant’s stock worth $762,000 after acquiring an additional 35 shares during the last quarter. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Insider Activity

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

Analyst Ratings Changes

A number of analysts have recently issued reports on MCD shares. Wells Fargo & Company boosted their target price on McDonald’s from $285.00 to $350.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Robert W. Baird lowered shares of McDonald’s from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $320.00 to $290.00 in a research report on Wednesday, October 23rd. The Goldman Sachs Group lifted their target price on shares of McDonald’s from $284.00 to $325.00 and gave the company a “neutral” rating in a report on Tuesday, September 24th. Morgan Stanley raised their price objective on McDonald’s from $296.00 to $340.00 and gave the company an “overweight” rating in a research report on Tuesday, October 15th. Finally, Barclays upped their target price on McDonald’s from $300.00 to $325.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 22nd. Ten analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $321.39.

Get Our Latest Stock Analysis on MCD

McDonald’s Trading Up 0.4 %

Shares of MCD opened at $280.90 on Tuesday. McDonald’s Co. has a 52 week low of $243.53 and a 52 week high of $317.90. The firm has a market cap of $201.30 billion, a price-to-earnings ratio of 24.66, a PEG ratio of 3.65 and a beta of 0.73. The stock has a 50 day moving average of $292.54 and a 200-day moving average of $287.50.

McDonald’s (NYSE:MCD – Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The fast-food giant reported $3.23 EPS 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 net margin of 31.79% and a negative return on equity of 175.42%. The firm’s revenue was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.19 earnings per share. On average, sell-side analysts predict that McDonald’s Co. will post 11.73 earnings per share for the current fiscal year.

McDonald’s Profile

(Free Report)

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.

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