Drive Wealth Management LLC Raises Stock Holdings in McDonald’s Co. (NYSE:MCD)

Drive Wealth Management LLC grew its stake in shares of McDonald’s Co. (NYSE:MCD) by 3.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,026 shares of the fast-food giant’s stock after acquiring an additional 70 shares during the quarter. Drive Wealth Management LLC’s holdings in McDonald’s were worth $587,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Geode Capital Management LLC raised its stake in McDonald’s by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 15,916,980 shares of the fast-food giant’s stock valued at $4,833,510,000 after buying an additional 220,365 shares during the last quarter. Wellington Management Group LLP increased its position in McDonald’s by 0.9% during the third quarter. Wellington Management Group LLP now owns 15,082,894 shares of the fast-food giant’s stock valued at $4,592,892,000 after acquiring an additional 128,800 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in McDonald’s by 0.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,564,359 shares of the fast-food giant’s stock valued at $1,694,403,000 after acquiring an additional 49,106 shares during the period. Janus Henderson Group PLC grew its stake in shares of McDonald’s by 0.7% during the 3rd quarter. Janus Henderson Group PLC now owns 2,765,049 shares of the fast-food giant’s stock valued at $841,966,000 after purchasing an additional 19,867 shares during the period. Finally, International Assets Investment Management LLC increased its position in shares of McDonald’s by 31,151.1% during the 3rd quarter. International Assets Investment Management LLC now owns 2,319,142 shares of the fast-food giant’s stock valued at $706,202,000 after purchasing an additional 2,311,721 shares during the last quarter. 70.29% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Morgan Stanley dropped their price objective on shares of McDonald’s from $340.00 to $336.00 and set an “overweight” rating on the stock in a report on Tuesday, January 21st. BMO Capital Markets boosted their price objective on shares of McDonald’s from $315.00 to $335.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Citigroup raised McDonald’s from a “neutral” rating to a “buy” rating and raised their target price for the stock from $311.00 to $334.00 in a report on Friday, January 10th. KeyCorp cut their price target on McDonald’s from $330.00 to $320.00 and set an “overweight” rating for the company in a report on Friday. Finally, Wells Fargo & Company upped their price target on McDonald’s from $285.00 to $350.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Ten research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $320.78.

Insider Activity

In other news, EVP Marion K. Gross sold 1,499 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $294.51, for a total value of $441,470.49. Following the sale, the executive vice president now directly owns 1,560 shares in the company, valued at approximately $459,435.60. This represents a 49.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Joseph M. Erlinger sold 300 shares of the stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $280.75, for a total value of $84,225.00. Following the completion of the sale, the insider now owns 7,887 shares in the company, valued at approximately $2,214,275.25. The trade was a 3.66 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 8,905 shares of company stock valued at $2,592,327. 0.23% of the stock is currently owned by company insiders.

McDonald’s Trading Up 0.3 %

Shares of NYSE MCD opened at $285.37 on Monday. McDonald’s Co. has a 12-month low of $243.53 and a 12-month high of $317.90. The firm’s 50-day moving average price is $291.07 and its 200-day moving average price is $288.43. The stock has a market capitalization of $204.50 billion, a price-to-earnings ratio of 25.05, a P/E/G ratio of 3.66 and a beta of 0.73.

McDonald’s (NYSE:MCD) last issued its quarterly earnings data on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.18 by $0.05. McDonald’s had a negative return on equity of 175.42% and a net margin of 31.79%. The business had revenue of $6.87 billion for the quarter, compared to the consensus estimate of $6.82 billion. During the same period in the prior year, the business posted $3.19 earnings per share. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. On average, equities analysts predict that McDonald’s Co. will post 11.72 EPS for the current fiscal year.

McDonald’s Company Profile

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.