Triton Financial Group Inc Buys New Shares in McDonald’s Corporation $MCD

Triton Financial Group Inc bought a new stake in shares of McDonald’s Corporation (NYSE:MCD) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 4,567 shares of the fast-food giant’s stock, valued at approximately $1,334,000.

Several other institutional investors and hedge funds also recently bought and sold shares of MCD. Nuveen LLC purchased a new position in McDonald’s during the first quarter valued at $1,324,961,000. Price T Rowe Associates Inc. MD lifted its position in McDonald’s by 16.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 9,341,460 shares of the fast-food giant’s stock valued at $2,917,993,000 after purchasing an additional 1,344,954 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in McDonald’s by 19.6% during the first quarter. Goldman Sachs Group Inc. now owns 4,982,825 shares of the fast-food giant’s stock valued at $1,556,485,000 after purchasing an additional 815,768 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its position in McDonald’s by 732.6% during the first quarter. T. Rowe Price Investment Management Inc. now owns 650,544 shares of the fast-food giant’s stock valued at $203,211,000 after purchasing an additional 572,408 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in McDonald’s by 204.8% during the second quarter. Assenagon Asset Management S.A. now owns 607,145 shares of the fast-food giant’s stock valued at $177,390,000 after purchasing an additional 407,982 shares in the last quarter. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MCD has been the topic of a number of recent analyst reports. Barclays raised their price target on McDonald’s from $355.00 to $360.00 and gave the company an “overweight” rating in a report on Thursday, August 7th. Guggenheim decreased their price target on McDonald’s from $310.00 to $295.00 and set a “neutral” rating on the stock in a report on Friday, October 10th. JPMorgan Chase & Co. raised their price target on McDonald’s from $305.00 to $310.00 and gave the company an “overweight” rating in a report on Thursday, August 7th. TD Cowen raised their price target on McDonald’s from $305.00 to $315.00 and gave the company a “hold” rating in a report on Wednesday, August 6th. Finally, Truist Financial decreased their price target on McDonald’s from $360.00 to $350.00 and set a “buy” rating on the stock in a report on Tuesday, October 14th. Eleven investment analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $324.68.

Insider Transactions at McDonald’s

In other news, CMO Edith Morgan Flatley sold 1,000 shares of McDonald’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $315.00, for a total value of $315,000.00. Following the sale, the chief marketing officer directly owned 6,858 shares of the company’s stock, valued at approximately $2,160,270. The trade was a 12.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Jonathan Banner sold 1,000 shares of McDonald’s stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $310.00, for a total value of $310,000.00. Following the completion of the sale, the executive vice president directly owned 99 shares in the company, valued at $30,690. This trade represents a 90.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,402 shares of company stock valued at $1,973,407. 0.25% of the stock is owned by company insiders.

McDonald’s Trading Down 0.0%

Shares of MCD stock opened at $307.94 on Tuesday. McDonald’s Corporation has a 12-month low of $276.53 and a 12-month high of $326.32. The stock’s 50-day moving average price is $306.36 and its 200-day moving average price is $305.47. The stock has a market capitalization of $219.75 billion, a price-to-earnings ratio of 26.39, a price-to-earnings-growth ratio of 3.25 and a beta of 0.50.

McDonald’s (NYSE:MCD) last issued its earnings results on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.15 by $0.04. McDonald’s had a negative return on equity of 225.52% and a net margin of 32.21%.The firm had revenue of $6.84 billion for the quarter, compared to analysts’ expectations of $6.68 billion. During the same period in the previous year, the firm posted $2.97 earnings per share. The business’s revenue was up 5.4% compared to the same quarter last year. As a group, research analysts predict that McDonald’s Corporation will post 12.25 EPS for the current fiscal 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.