McDonald’s Co. (NYSE:MCD) Shares Acquired by Nuveen Asset Management LLC

Nuveen Asset Management LLC increased its stake in shares of McDonald’s Co. (NYSE:MCD) by 5.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,595,245 shares of the fast-food giant’s stock after purchasing an additional 226,752 shares during the period. Nuveen Asset Management LLC owned 0.64% of McDonald’s worth $1,332,116,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of MCD. Atala Financial Inc acquired a new stake in shares of McDonald’s in the fourth quarter valued at about $26,000. Comprehensive Financial Planning Inc. PA purchased a new stake in McDonald’s during the 4th quarter valued at about $27,000. Collier Financial acquired a new stake in McDonald’s in the 4th quarter valued at about $29,000. Fairway Wealth LLC lifted its stake in McDonald’s by 110.0% in the 4th quarter. Fairway Wealth LLC now owns 105 shares of the fast-food giant’s stock worth $30,000 after purchasing an additional 55 shares in the last quarter. Finally, GKV Capital Management Co. Inc. acquired a new position in shares of McDonald’s during the 4th quarter worth approximately $30,000. Institutional investors and hedge funds own 70.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on MCD. Morgan Stanley cut their price target on McDonald’s from $340.00 to $335.00 and set an “overweight” rating for the company in a report on Monday, March 17th. Truist Financial set a $350.00 target price on McDonald’s in a research note on Friday, May 2nd. Wedbush lifted their price target on McDonald’s from $320.00 to $330.00 and gave the stock an “outperform” rating in a report on Tuesday, February 11th. Piper Sandler upped their price objective on shares of McDonald’s from $292.00 to $314.00 and gave the company a “neutral” rating in a report on Friday, May 2nd. Finally, JPMorgan Chase & Co. lifted their target price on shares of McDonald’s from $280.00 to $300.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 11th. Eleven research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $325.91.

Insider Transactions at McDonald’s

In related news, CMO Edith Morgan Flatley sold 3,200 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $300.76, for a total transaction of $962,432.00. Following the sale, the chief marketing officer now directly owns 9,858 shares of the company’s stock, valued at $2,964,892.08. This represents a 24.51% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Joseph M. Erlinger sold 939 shares of the stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $305.00, for a total transaction of $286,395.00. Following the sale, the insider now owns 13,978 shares in the company, valued at approximately $4,263,290. This trade represents a 6.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 17,636 shares of company stock valued at $5,420,722. 0.25% of the stock is currently owned by corporate insiders.

McDonald’s Stock Down 1.0%

MCD opened at $308.76 on Wednesday. McDonald’s Co. has a 52 week low of $243.53 and a 52 week high of $326.32. The business has a fifty day simple moving average of $310.15 and a 200-day simple moving average of $300.31. The firm has a market cap of $220.79 billion, a P/E ratio of 27.11, a P/E/G ratio of 3.10 and a beta of 0.57.

McDonald’s (NYSE:MCD) last posted its earnings results on Thursday, May 1st. The fast-food giant reported $2.67 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.67. The firm had revenue of $5.96 billion for the quarter, compared to analyst estimates of $6.17 billion. McDonald’s had a negative return on equity of 181.63% and a net margin of 31.73%. McDonald’s’s revenue was down 3.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.70 EPS. Sell-side analysts expect that McDonald’s Co. will post 12.25 earnings per share for the current year.

McDonald’s Profile

McDonald’s Corp. engages in the operation and franchising of restaurants. It operates through the following segments: U.S., International Operated Markets, and International Developmental Licensed Markets and Corporate. The U.S. segment focuses its operations on the United States. The International Operated Markets segment consists of operations and the franchising of restaurants in Australia, Canada, France, Germany, Italy, the Netherlands, Spain, and the U.K.