Vest Financial LLC Buys 19,631 Shares of McDonald’s Corporation $MCD

Vest Financial LLC raised its stake in shares of McDonald’s Corporation (NYSE:MCD) by 10.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 208,786 shares of the fast-food giant’s stock after buying an additional 19,631 shares during the quarter. McDonald’s comprises about 0.8% of Vest Financial LLC’s investment portfolio, making the stock its 22nd biggest holding. Vest Financial LLC’s holdings in McDonald’s were worth $63,448,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently modified their holdings of MCD. Norges Bank bought a new position in McDonald’s in the 2nd quarter worth about $2,780,712,000. Laurel Wealth Advisors LLC lifted its stake in shares of McDonald’s by 29,382.3% in the second quarter. Laurel Wealth Advisors LLC now owns 5,737,548 shares of the fast-food giant’s stock worth $1,676,339,000 after buying an additional 5,718,087 shares in the last quarter. Soundwatch Capital LLC purchased a new stake in shares of McDonald’s during the second quarter valued at approximately $1,412,069,000. Viking Global Investors LP increased its position in shares of McDonald’s by 171.7% during the second quarter. Viking Global Investors LP now owns 3,125,432 shares of the fast-food giant’s stock valued at $913,157,000 after acquiring an additional 1,974,998 shares in the last quarter. Finally, Amundi raised its holdings in McDonald’s by 96.0% in the 2nd quarter. Amundi now owns 4,032,676 shares of the fast-food giant’s stock worth $1,188,147,000 after acquiring an additional 1,974,751 shares during the last quarter. 70.29% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Desiree Ralls-Morrison sold 2,486 shares of the firm’s stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $320.00, for a total value of $795,520.00. Following the transaction, the executive vice president owned 6,268 shares of the company’s stock, valued at $2,005,760. This trade represents a 28.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Manuel Jm Steijaert sold 6,567 shares of the business’s stock in a transaction that occurred on 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 transaction, the executive vice president owned 4,606 shares of the company’s stock, valued at approximately $1,407,133. This trade represents a 58.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 45,142 shares of company stock worth $13,841,169. Corporate insiders own 0.25% of the company’s stock.

McDonald’s Trading Down 1.5%

Shares of NYSE MCD opened at $302.81 on Wednesday. McDonald’s Corporation has a 12-month low of $278.73 and a 12-month high of $326.32. The firm has a market capitalization of $215.65 billion, a price-to-earnings ratio of 25.84, a price-to-earnings-growth ratio of 3.05 and a beta of 0.53. The firm has a 50 day moving average of $308.86 and a 200 day moving average of $305.72.

McDonald’s (NYSE:MCD) last issued 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 business had revenue of $7.08 billion for the quarter, compared to analysts’ expectations of $7.10 billion. During the same quarter in the prior year, the business earned $3.23 EPS. The company’s revenue was up 3.0% compared to the same quarter last year. Sell-side analysts predict that McDonald’s Corporation will post 12.25 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have commented on MCD. Morgan Stanley set a $335.00 target price on McDonald’s in a research note on Friday, October 17th. Oppenheimer raised McDonald’s from a “market perform” rating to an “outperform” rating and set a $355.00 target price for the company in a research report on Tuesday, January 6th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of McDonald’s in a report on Friday, October 31st. Royal Bank Of Canada started coverage on shares of McDonald’s in a research note on Wednesday, October 8th. They issued a “sector perform” rating and a $320.00 price target for the company. Finally, Sanford C. Bernstein restated an “overweight” rating and issued a $372.00 target price on shares of McDonald’s in a report on Wednesday, January 7th. Thirteen equities research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, McDonald’s has a consensus rating of “Hold” and an average price target of $328.88.

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.