Tortoise Investment Management LLC raised its stake in shares of McDonald's Co. (NYSE:MCD – Get Rating) by 7.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 873 shares of the fast-food giant's stock after acquiring an additional 57 shares during the quarter. Tortoise Investment Management LLC's holdings in McDonald's were worth $201,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. West Financial Advisors LLC boosted its stake in McDonald's by 520.0% during the 3rd quarter. West Financial Advisors LLC now owns 124 shares of the fast-food giant's stock valued at $29,000 after acquiring an additional 104 shares during the last quarter. WD Rutherford LLC acquired a new stake in shares of McDonald's during the third quarter worth $36,000. Disciplined Equity Management Inc. acquired a new stake in shares of McDonald's during the second quarter worth $39,000. McClarren Financial Advisors Inc. acquired a new stake in shares of McDonald's during the third quarter worth $43,000. Finally, Western Pacific Wealth Management LP raised its holdings in shares of McDonald's by 80.0% during the third quarter. Western Pacific Wealth Management LP now owns 225 shares of the fast-food giant's stock worth $51,000 after purchasing an additional 100 shares during the period. 66.86% of the stock is currently owned by institutional investors.
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Analyst Ratings Changes
A number of brokerages have weighed in on MCD. StockNews.com raised shares of McDonald's from a "hold" rating to a "buy" rating in a report on Monday, January 16th. Morgan Stanley increased their target price on shares of McDonald's from $285.00 to $305.00 and gave the stock an "overweight" rating in a report on Wednesday, January 18th. Guggenheim dropped their price objective on shares of McDonald's to $280.00 in a report on Thursday, October 27th. Cowen increased their price objective on shares of McDonald's from $280.00 to $293.00 and gave the stock an "outperform" rating in a report on Friday, October 28th. Finally, Royal Bank of Canada increased their price objective on shares of McDonald's from $275.00 to $295.00 and gave the stock an "outperform" rating in a report on Friday, October 28th. Five equities research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $288.96.
McDonald's Trading Up 0.1 %
NYSE:MCD opened at $269.56 on Wednesday. McDonald's Co. has a twelve month low of $217.68 and a twelve month high of $302.00. The company has a 50-day moving average of $269.69 and a 200-day moving average of $260.95. The firm has a market cap of $197.43 billion, a price-to-earnings ratio of 33.95, a price-to-earnings-growth ratio of 3.14 and a beta of 0.63.
McDonald's (NYSE:MCD – Get Rating) last announced its earnings results on Thursday, October 27th. The fast-food giant reported $2.68 EPS for the quarter, topping the consensus estimate of $2.57 by $0.11. The company had revenue of $5.87 billion during the quarter, compared to analysts' expectations of $5.70 billion. McDonald's had a net margin of 25.42% and a negative return on equity of 123.40%. The business's revenue for the quarter was down 5.3% on a year-over-year basis. During the same period last year, the company posted $2.76 earnings per share. On average, research analysts forecast that McDonald's Co. will post 9.93 earnings per share for the current year.
McDonald's Profile
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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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