Vest Financial LLC Grows Stake in McDonald’s Corporation $MCD

Vest Financial LLC boosted its holdings in McDonald’s Corporation (NYSE:MCD) by 10.4% in the 3rd quarter, HoldingsChannel reports. The firm owned 208,786 shares of the fast-food giant’s stock after purchasing an additional 19,631 shares during the quarter. McDonald’s makes up approximately 0.8% of Vest Financial LLC’s portfolio, making the stock its 22nd largest 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 (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Federated Hermes Inc. grew its position in shares of McDonald’s by 84.1% during the second quarter. Federated Hermes Inc. now owns 141,775 shares of the fast-food giant’s stock valued at $41,422,000 after purchasing an additional 64,757 shares in the last quarter. Welch Group LLC grew its holdings in McDonald’s by 1.1% during the 2nd quarter. Welch Group LLC now owns 206,004 shares of the fast-food giant’s stock valued at $60,188,000 after buying an additional 2,180 shares in the last quarter. Global X Japan Co. Ltd. increased its stake in McDonald’s by 236.7% in the 3rd quarter. Global X Japan Co. Ltd. now owns 6,502 shares of the fast-food giant’s stock worth $1,976,000 after acquiring an additional 4,571 shares during the last quarter. D.A. Davidson & CO. raised its holdings in shares of McDonald’s by 2.7% during the 3rd quarter. D.A. Davidson & CO. now owns 143,492 shares of the fast-food giant’s stock worth $43,606,000 after acquiring an additional 3,774 shares in the last quarter. Finally, Choreo LLC boosted its position in shares of McDonald’s by 1.7% during the 2nd quarter. Choreo LLC now owns 58,515 shares of the fast-food giant’s stock valued at $17,096,000 after acquiring an additional 954 shares during the last quarter. Institutional investors own 70.29% of the company’s stock.

Insider Buying and Selling at McDonald’s

In other news, CFO Ian Frederick Borden sold 17,134 shares of McDonald’s stock in a transaction on Friday, November 21st. The stock was sold at an average price of $310.00, for a total value of $5,311,540.00. Following the transaction, the chief financial officer directly owned 26,353 shares in the company, valued at approximately $8,169,430. This trade represents a 39.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Manuel Jm Steijaert sold 13,134 shares of McDonald’s stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $300.42, for a total transaction of $3,945,716.28. Following the completion of the transaction, the executive vice president directly owned 4,606 shares in the company, valued at approximately $1,383,734.52. The trade was a 74.04% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 45,142 shares of company stock worth $13,841,169. 0.25% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

MCD has been the topic of several analyst reports. Robert W. Baird boosted their price objective on McDonald’s from $322.00 to $325.00 and gave the stock a “neutral” rating in a research note on Thursday, November 6th. TD Cowen reissued a “hold” rating and set a $320.00 target price on shares of McDonald’s in a research report on Thursday, January 8th. Cowen restated a “hold” rating on shares of McDonald’s in a research report on Thursday, January 8th. Piper Sandler reiterated a “neutral” rating and set a $325.00 price objective on shares of McDonald’s in a research report on Wednesday, October 22nd. Finally, Citigroup lowered their target price on shares of McDonald’s from $381.00 to $375.00 and set a “buy” rating for the company in a report on Tuesday, October 21st. Thirteen research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $328.88.

McDonald’s Stock Performance

McDonald’s stock opened at $302.81 on Wednesday. The company has a market capitalization of $215.65 billion, a PE ratio of 25.84, a P/E/G ratio of 3.05 and a beta of 0.53. The company has a 50 day moving average price of $308.86 and a 200-day moving average price of $305.72. McDonald’s Corporation has a fifty-two week low of $278.73 and a fifty-two week high of $326.32.

McDonald’s (NYSE:MCD) last issued its earnings results on Wednesday, November 5th. The fast-food giant reported $3.22 earnings per share for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.11). McDonald’s had a net margin of 32.04% and a negative return on equity of 280.89%. The firm had revenue of $7.08 billion for the quarter, compared to the consensus estimate of $7.10 billion. During the same period last year, the firm earned $3.23 earnings per share. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. On average, analysts forecast that McDonald’s Corporation will post 12.25 earnings per share for the current year.

McDonald’s Company Profile

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.