RKL Wealth Management LLC reduced its position in shares of McDonald's Co. (NYSE:MCD) by 18.2% in the 3rd quarter, Holdings Channel reports. The firm owned 26,342 shares of the fast-food giant’s stock after selling 5,844 shares during the period. McDonald's comprises about 1.2% of RKL Wealth Management LLC’s holdings, making the stock its 26th largest position. RKL Wealth Management LLC’s holdings in McDonald's were worth $4,128,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in MCD. Phocas Financial Corp. acquired a new stake in McDonald's during the 2nd quarter worth $107,000. Proficio Capital Partners LLC raised its stake in McDonald's by 0.7% during the 2nd quarter. Proficio Capital Partners LLC now owns 745 shares of the fast-food giant’s stock worth $117,000 after acquiring an additional 5 shares in the last quarter. Howe & Rusling Inc. raised its stake in McDonald's by 75.0% during the 3rd quarter. Howe & Rusling Inc. now owns 840 shares of the fast-food giant’s stock worth $132,000 after acquiring an additional 360 shares in the last quarter. Acrospire Investment Management LLC acquired a new stake in McDonald's during the 2nd quarter worth $153,000. Finally, Accurate Investment Solutions Inc. raised its stake in McDonald's by 861.3% during the 3rd quarter. Accurate Investment Solutions Inc. now owns 1,019 shares of the fast-food giant’s stock worth $160,000 after acquiring an additional 913 shares in the last quarter. 67.30% of the stock is owned by institutional investors and hedge funds.
MCD has been the topic of several research analyst reports. Canaccord Genuity reiterated a “hold” rating and set a $170.00 price target on shares of McDonald's in a research note on Friday, October 6th. Nomura set a $180.00 price target on shares of McDonald's and gave the stock a “buy” rating in a research note on Wednesday, October 25th. Zacks Investment Research upgraded shares of McDonald's from a “hold” rating to a “buy” rating and set a $196.00 price target on the stock in a research note on Thursday. Stifel Nicolaus set a $172.00 price target on shares of McDonald's and gave the stock a “neutral” rating in a research note on Wednesday, January 3rd. Finally, Piper Jaffray Companies lifted their price target on shares of McDonald's from $175.00 to $185.00 and gave the stock an “overweight” rating in a research note on Thursday, December 14th. Nine analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $179.68.
McDonald's (NYSE:MCD) last issued its earnings results on Tuesday, October 24th. The fast-food giant reported $1.76 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.75 by $0.01. The business had revenue of $5.75 billion for the quarter, compared to the consensus estimate of $5.75 billion. McDonald's had a net margin of 24.19% and a negative return on equity of 216.45%. The business’s quarterly revenue was down 10.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.62 earnings per share. sell-side analysts expect that McDonald's Co. will post 6.53 EPS for the current year.
In other news, insider Stephen Easterbrook sold 171,577 shares of McDonald's stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $168.32, for a total value of $28,879,840.64. Following the sale, the insider now owns 49,778 shares of the company’s stock, valued at $8,378,632.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP James R. Sappington sold 8,046 shares of McDonald's stock in a transaction dated Wednesday, October 25th. The shares were sold at an average price of $165.00, for a total transaction of $1,327,590.00. Following the completion of the sale, the vice president now directly owns 15,739 shares in the company, valued at approximately $2,596,935. The disclosure for this sale can be found here. 0.24% of the stock is owned by insiders.
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McDonald’s Corporation (McDonald’s) operates and franchises McDonald’s restaurants. The Company’s restaurants serve a locally relevant menu of food and drinks sold at various price points in over 100 countries. The Company’s segments include U.S., International Lead Markets, High Growth Markets, and Foundational Markets and Corporate.
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