SouthState Corp reduced its stake in McDonald's Co. (NYSE:MCD – Get Rating) by 11.5% during the third quarter, Holdings Channel.com reports. The firm owned 18,910 shares of the fast-food giant's stock after selling 2,452 shares during the quarter. SouthState Corp's holdings in McDonald's were worth $4,363,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently bought and sold shares of MCD. EFG Asset Management Americas Corp. boosted its stake in shares of McDonald's by 3.0% in the third quarter. EFG Asset Management Americas Corp. now owns 5,121 shares of the fast-food giant's stock worth $1,182,000 after acquiring an additional 149 shares during the period. Arvest Trust Co. N A grew its holdings in shares of McDonald's by 16.6% in the third quarter. Arvest Trust Co. N A now owns 1,280 shares of the fast-food giant's stock valued at $295,000 after purchasing an additional 182 shares in the last quarter. Quantbot Technologies LP bought a new stake in McDonald's in the third quarter worth $5,860,000. BOK Financial Private Wealth Inc. raised its stake in McDonald's by 4.7% during the third quarter. BOK Financial Private Wealth Inc. now owns 2,844 shares of the fast-food giant's stock valued at $656,000 after purchasing an additional 128 shares in the last quarter. Finally, Mitchell Mcleod Pugh & Williams Inc. grew its stake in shares of McDonald's by 2.7% in the 3rd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 4,827 shares of the fast-food giant's stock worth $1,114,000 after buying an additional 127 shares in the last quarter. 66.86% of the stock is owned by institutional investors.
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Analyst Upgrades and Downgrades
MCD has been the topic of a number of recent analyst reports. Robert W. Baird increased their price objective on shares of McDonald's from $285.00 to $288.00 and gave the stock an "outperform" rating in a research report on Friday, October 28th. Morgan Stanley boosted their target price on shares of McDonald's from $285.00 to $305.00 and gave the company an "overweight" rating in a research note on Wednesday, January 18th. Wedbush upped their price target on shares of McDonald's from $265.00 to $300.00 and gave the stock an "outperform" rating in a report on Thursday, October 27th. Barclays lifted their price objective on shares of McDonald's from $295.00 to $310.00 and gave the company an "overweight" rating in a report on Thursday, January 5th. Finally, Wells Fargo & Company began coverage on shares of McDonald's in a research report on Monday. They set an "equal weight" rating and a $280.00 target price on the stock. Five research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company's stock. Based on data from MarketBeat.com, McDonald's presently has an average rating of "Moderate Buy" and a consensus price target of $289.19.
McDonald's Price Performance
MCD stock traded up $0.27 during mid-day trading on Friday, reaching $274.99. 137,519 shares of the company's stock were exchanged, compared to its average volume of 2,430,823. The company has a market cap of $201.41 billion, a price-to-earnings ratio of 34.60, a price-to-earnings-growth ratio of 3.17 and a beta of 0.63. McDonald's Co. has a 12-month low of $217.68 and a 12-month high of $281.67. The stock's 50 day moving average is $269.70 and its 200 day moving average is $261.04.
McDonald's (NYSE:MCD – Get Rating) last issued its earnings results on Thursday, October 27th. The fast-food giant reported $2.68 EPS for the quarter, beating analysts' consensus estimates of $2.57 by $0.11. McDonald's had a net margin of 25.42% and a negative return on equity of 123.40%. The business had revenue of $5.87 billion during the quarter, compared to analysts' expectations of $5.70 billion. During the same period in the prior year, the business earned $2.76 earnings per share. The company's quarterly revenue was down 5.3% compared to the same quarter last year. On average, research analysts forecast that McDonald's Co. will post 9.93 earnings per share for the current fiscal year.
McDonald's Company 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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