Novare Capital Management LLC Cuts Stake in McDonald’s Co. (NYSE:MCD)

Novare Capital Management LLC trimmed its stake in McDonald’s Co. (NYSE:MCD) by 10.7% during the fourth quarter, Holdings Channel reports. The fund owned 990 shares of the fast-food giant’s stock after selling 119 shares during the period. Novare Capital Management LLC’s holdings in McDonald’s were worth $287,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Geode Capital Management LLC increased its position in McDonald’s by 1.4% in the third quarter. Geode Capital Management LLC now owns 15,916,980 shares of the fast-food giant’s stock worth $4,833,510,000 after buying an additional 220,365 shares during the last quarter. Wellington Management Group LLP lifted its holdings in McDonald’s by 0.9% during the third quarter. Wellington Management Group LLP now owns 15,082,894 shares of the fast-food giant’s stock valued at $4,592,892,000 after purchasing an additional 128,800 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of McDonald’s by 0.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,564,359 shares of the fast-food giant’s stock worth $1,694,403,000 after purchasing an additional 49,106 shares in the last quarter. Janus Henderson Group PLC lifted its stake in shares of McDonald’s by 0.7% during the 3rd quarter. Janus Henderson Group PLC now owns 2,765,049 shares of the fast-food giant’s stock valued at $841,966,000 after buying an additional 19,867 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its holdings in McDonald’s by 31,151.1% in the 3rd quarter. International Assets Investment Management LLC now owns 2,319,142 shares of the fast-food giant’s stock worth $706,202,000 after buying an additional 2,311,721 shares during the period. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Insider Activity at McDonald’s

In other news, EVP Marion K. Gross sold 1,499 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $294.51, for a total transaction of $441,470.49. Following the completion of the transaction, the executive vice president now directly owns 1,560 shares of the company’s stock, valued at approximately $459,435.60. This represents a 49.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Joseph M. Erlinger sold 1,099 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $292.50, for a total transaction of $321,457.50. Following the sale, the insider now owns 9,286 shares of the company’s stock, valued at approximately $2,716,155. This represents a 10.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 8,905 shares of company stock worth $2,592,327 in the last three months. 0.23% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on MCD shares. UBS Group raised their price target on McDonald’s from $305.00 to $345.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Evercore ISI increased their price target on shares of McDonald’s from $320.00 to $340.00 and gave the stock an “outperform” rating in a report on Tuesday, October 15th. Wells Fargo & Company upped their target price on shares of McDonald’s from $285.00 to $350.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. TD Cowen reissued a “hold” rating and issued a $300.00 price target on shares of McDonald’s in a report on Tuesday, October 29th. Finally, Argus raised shares of McDonald’s from a “hold” rating to a “buy” rating in a report on Tuesday, October 8th. Ten research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $320.78.

McDonald’s Trading Up 0.3 %

MCD opened at $285.37 on Monday. The company has a market cap of $204.50 billion, a P/E ratio of 25.05, a P/E/G ratio of 3.66 and a beta of 0.73. McDonald’s Co. has a 12 month low of $243.53 and a 12 month high of $317.90. The business’s 50-day moving average price is $291.07 and its 200-day moving average price is $288.43.

McDonald’s (NYSE:MCD) last announced its quarterly earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 EPS for the quarter, topping analysts’ consensus estimates of $3.18 by $0.05. The business had revenue of $6.87 billion for the quarter, compared to analysts’ expectations of $6.82 billion. McDonald’s had a negative return on equity of 175.42% and a net margin of 31.79%. The business’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the firm earned $3.19 EPS. Equities research analysts forecast that McDonald’s Co. will post 11.72 earnings per share for the current fiscal year.

McDonald’s Profile

McDonald's Corporation operates and franchises restaurants under the McDonald's brand in the United States and internationally. It offers food and beverages, including hamburgers and cheeseburgers, various chicken sandwiches, fries, shakes, desserts, sundaes, cookies, pies, soft drinks, coffee, and other beverages; and full or limited breakfast, as well as sells various other products during limited-time promotions.