V Wealth Advisors LLC grew its holdings in McDonald’s Co. (NYSE:MCD – Get Rating) by 30.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,115 shares of the fast-food giant’s stock after buying an additional 2,566 shares during the quarter. V Wealth Advisors LLC’s holdings in McDonald’s were worth $2,565,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in MCD. Arrowstreet Capital Limited Partnership boosted its stake in McDonald’s by 1,189.7% during the first quarter. Arrowstreet Capital Limited Partnership now owns 2,191,692 shares of the fast-food giant’s stock worth $541,962,000 after buying an additional 2,021,754 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in McDonald’s by 77.8% during the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 3,849,583 shares of the fast-food giant’s stock worth $950,418,000 after buying an additional 1,684,960 shares during the last quarter. Renaissance Technologies LLC boosted its stake in McDonald’s by 44.2% during the first quarter. Renaissance Technologies LLC now owns 2,531,400 shares of the fast-food giant’s stock worth $625,965,000 after buying an additional 776,419 shares during the last quarter. Barclays PLC boosted its stake in McDonald’s by 48.4% during the third quarter. Barclays PLC now owns 1,879,173 shares of the fast-food giant’s stock worth $433,603,000 after buying an additional 612,854 shares during the last quarter. Finally, Mackenzie Financial Corp raised its position in McDonald’s by 103.5% in the second quarter. Mackenzie Financial Corp now owns 1,051,106 shares of the fast-food giant’s stock valued at $259,497,000 after purchasing an additional 534,698 shares during the period. 66.86% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several brokerages have weighed in on MCD. Credit Suisse Group upped their price target on McDonald’s from $292.00 to $298.00 in a report on Wednesday. Morgan Stanley upped their price target on McDonald’s from $285.00 to $305.00 and gave the stock an “overweight” rating in a report on Wednesday, January 18th. Piper Sandler increased their price objective on McDonald’s to $280.00 in a report on Tuesday, November 1st. Royal Bank of Canada boosted their price objective on shares of McDonald’s from $275.00 to $295.00 and gave the stock an “outperform” rating in a research report on Friday, October 28th. Finally, Cowen increased their target price on shares of McDonald’s from $280.00 to $293.00 and gave the company an “outperform” rating in a research report on Friday, October 28th. Five investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $289.19.
McDonald’s Stock Performance
McDonald’s (NYSE:MCD – Get Rating) last announced its quarterly earnings results on Thursday, October 27th. The fast-food giant reported $2.68 earnings per share for the quarter, topping analysts’ consensus estimates of $2.57 by $0.11. The business had revenue of $5.87 billion for the quarter, compared to analysts’ expectations of $5.70 billion. McDonald’s had a negative return on equity of 123.40% and a net margin of 25.42%. The business’s quarterly revenue was down 5.3% on a year-over-year basis. During the same period in the prior year, the firm earned $2.76 EPS. As a group, sell-side analysts predict that McDonald’s Co. will post 9.93 earnings per share for the current year.
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, Russia, Spain, and the U.K.
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