Foresters Investment Management Company Inc. grew its stake in Mcdonald’s Corp (NYSE:MCD) by 350.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 161,250 shares of the fast-food giant’s stock after purchasing an additional 125,450 shares during the quarter. Foresters Investment Management Company Inc.’s holdings in Mcdonald’s were worth $28,633,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Ruggie Capital Group grew its position in shares of Mcdonald’s by 3,020.0% in the 4th quarter. Ruggie Capital Group now owns 156 shares of the fast-food giant’s stock worth $28,000 after buying an additional 151 shares during the period. Gantzert Investment Co. LLC ADV purchased a new stake in Mcdonald’s during the 4th quarter valued at about $31,000. Focused Wealth Management Inc grew its position in Mcdonald’s by 4,500.0% during the 4th quarter. Focused Wealth Management Inc now owns 184 shares of the fast-food giant’s stock valued at $33,000 after purchasing an additional 180 shares during the last quarter. Highwater Wealth Management LLC purchased a new stake in Mcdonald’s during the 4th quarter valued at about $38,000. Finally, Strategic Wealth Partners Ltd. grew its position in Mcdonald’s by 47.9% during the 4th quarter. Strategic Wealth Partners Ltd. now owns 207 shares of the fast-food giant’s stock valued at $38,000 after purchasing an additional 67 shares during the last quarter. Institutional investors and hedge funds own 68.80% of the company’s stock.
In other news, VP Robert Lane Gibbs sold 22,036 shares of the firm’s stock in a transaction dated Thursday, January 31st. The shares were sold at an average price of $180.95, for a total transaction of $3,987,414.20. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman Andrew J. Mckenna sold 30,000 shares of the firm’s stock in a transaction dated Thursday, January 31st. The shares were sold at an average price of $180.27, for a total transaction of $5,408,100.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 129,775 shares of company stock worth $23,249,437. Insiders own 0.22% of the company’s stock.
Mcdonald’s (NYSE:MCD) last announced its quarterly earnings results on Wednesday, January 30th. The fast-food giant reported $1.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.90 by $0.07. The firm had revenue of $5.16 billion for the quarter, compared to the consensus estimate of $5.16 billion. Mcdonald’s had a net margin of 28.18% and a negative return on equity of 104.38%. The business’s quarterly revenue was down 3.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.71 EPS. As a group, sell-side analysts forecast that Mcdonald’s Corp will post 8.12 earnings per share for the current year.
Several brokerages recently commented on MCD. Robert W. Baird increased their price objective on shares of Mcdonald’s from $196.00 to $205.00 in a research report on Monday, April 1st. Zacks Investment Research downgraded shares of Mcdonald’s from a “hold” rating to a “sell” rating in a research report on Monday, April 8th. Telsey Advisory Group reissued an “outperform” rating and set a $210.00 price objective (up from $195.00) on shares of Mcdonald’s in a research report on Friday, April 5th. Wells Fargo & Co increased their price objective on shares of Mcdonald’s from $202.00 to $203.00 and gave the company an “outperform” rating in a research report on Friday, January 11th. Finally, Stephens raised shares of Mcdonald’s from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $180.00 to $200.00 in a research report on Tuesday, February 19th. Six analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. Mcdonald’s currently has an average rating of “Buy” and a consensus price target of $195.50.
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McDonald's Corporation operates and franchises McDonald's restaurants in the United States and internationally. Its restaurants offer various food products, soft drinks, coffee, and other beverages, as well as breakfast menu. As of December 31, 2018, the company operated 37,855 restaurants, including 35,085 franchised restaurants comprising 21,685 franchised to conventional franchisees, 7,225 licensed to developmental licensees, and 6,175 licensed to foreign affiliates; and 2,770 company-operated restaurants.
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