Spire Wealth Management lessened its position in McDonald's Co. (NYSE:MCD – Get Rating) by 38.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 26,479 shares of the fast-food giant's stock after selling 16,283 shares during the period. Spire Wealth Management's holdings in McDonald's were worth $6,110,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Gladstone Institutional Advisory LLC increased its holdings in shares of McDonald's by 57.8% in the 3rd quarter. Gladstone Institutional Advisory LLC now owns 24,941 shares of the fast-food giant's stock worth $5,755,000 after acquiring an additional 9,132 shares during the period. Garrett Investment Advisors LLC grew its position in McDonald's by 8.2% in the 2nd quarter. Garrett Investment Advisors LLC now owns 3,660 shares of the fast-food giant's stock valued at $904,000 after buying an additional 276 shares in the last quarter. Bartlett & Co. LLC grew its position in McDonald's by 0.3% in the 3rd quarter. Bartlett & Co. LLC now owns 172,083 shares of the fast-food giant's stock valued at $39,709,000 after buying an additional 486 shares in the last quarter. Wealthspire Advisors LLC grew its position in McDonald's by 6.2% in the 2nd quarter. Wealthspire Advisors LLC now owns 11,355 shares of the fast-food giant's stock valued at $2,803,000 after buying an additional 661 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. grew its position in McDonald's by 8.3% in the 3rd quarter. Newbridge Financial Services Group Inc. now owns 1,120 shares of the fast-food giant's stock valued at $258,000 after buying an additional 86 shares in the last quarter. Institutional investors and hedge funds own 66.86% of the company's stock.
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Analyst Ratings Changes
MCD has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft increased their target price on shares of McDonald's from $262.00 to $263.00 in a research report on Thursday, January 5th. KeyCorp raised their price objective on shares of McDonald's from $290.00 to $295.00 and gave the company an "overweight" rating in a research report on Friday, October 28th. JPMorgan Chase & Co. raised their price objective on shares of McDonald's from $250.00 to $262.00 and gave the company an "overweight" rating in a research report on Wednesday, January 18th. Guggenheim reduced their price objective on shares of McDonald's to $280.00 in a research report on Thursday, October 27th. Finally, Cowen raised their price objective 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 analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $289.19.
McDonald's Stock Down 0.3 %
MCD stock traded down $0.94 during midday trading on Thursday, hitting $272.06. 495,118 shares of the company traded hands, compared to its average volume of 2,464,107. McDonald's Co. has a twelve month low of $217.68 and a twelve month high of $281.67. The business has a 50 day simple moving average of $269.70 and a 200-day simple moving average of $261.04. The stock has a market capitalization of $199.26 billion, a price-to-earnings ratio of 34.38, a price-to-earnings-growth ratio of 3.13 and a beta of 0.63.
McDonald's (NYSE:MCD – Get Rating) last announced its quarterly earnings results on Thursday, October 27th. The fast-food giant reported $2.68 EPS for the quarter, beating the consensus estimate of $2.57 by $0.11. McDonald's had a negative return on equity of 123.40% and a net margin of 25.42%. The company had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $5.70 billion. During the same quarter last year, the company posted $2.76 earnings per share. The company's revenue for the quarter was down 5.3% compared to the same quarter last year. Equities research analysts forecast that McDonald's Co. will post 9.93 EPS for the current year.
About McDonald's
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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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