Fifth Third Wealth Advisors LLC Has $6.89 Million Stock Position in McDonald’s Co. (NYSE:MCD)

Fifth Third Wealth Advisors LLC boosted its holdings in shares of McDonald’s Co. (NYSE:MCD) by 12.0% in the fourth quarter, HoldingsChannel reports. The fund owned 23,769 shares of the fast-food giant’s stock after buying an additional 2,544 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in McDonald’s were worth $6,890,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Legacy Investment Solutions LLC bought a new stake in shares of McDonald’s in the 3rd quarter valued at approximately $25,000. RPg Family Wealth Advisory LLC acquired a new position in shares of McDonald’s during the 3rd quarter worth $31,000. Hara Capital LLC bought a new position in shares of McDonald’s during the 3rd quarter valued at $44,000. Peterson Financial Group Inc. bought a new stake in McDonald’s in the third quarter worth $58,000. Finally, FSA Wealth Management LLC acquired a new position in McDonald’s during the third quarter worth $72,000. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Desiree Ralls-Morrison sold 3,409 shares of the business’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $290.15, for a total value of $989,121.35. Following the sale, the executive vice president now directly owns 9,675 shares of the company’s stock, valued at approximately $2,807,201.25. The trade was a 26.05 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Joseph M. Erlinger sold 1,099 shares of the company’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $292.38, for a total value of $321,325.62. Following the transaction, the insider now directly owns 10,385 shares of the company’s stock, valued at $3,036,366.30. This represents a 9.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 9,704 shares of company stock worth $2,829,428 over the last ninety days. 0.23% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

MCD has been the subject of several recent analyst reports. Robert W. Baird downgraded McDonald’s from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $320.00 to $290.00 in a research note on Wednesday, October 23rd. Bank of America raised their target price on shares of McDonald’s from $321.00 to $324.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Loop Capital restated a “buy” rating and set a $342.00 price target on shares of McDonald’s in a report on Friday, January 3rd. KeyCorp lifted their price objective on McDonald’s from $305.00 to $330.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Finally, Baird R W downgraded McDonald’s from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Ten investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $321.39.

McDonald’s Price Performance

MCD opened at $281.40 on Wednesday. The firm has a 50 day simple moving average of $293.43 and a 200 day simple moving average of $286.83. McDonald’s Co. has a fifty-two week low of $243.53 and a fifty-two week high of $317.90. The company has a market cap of $201.66 billion, a price-to-earnings ratio of 24.71, a price-to-earnings-growth ratio of 3.95 and a beta of 0.73.

McDonald’s (NYSE:MCD) last announced its quarterly earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share for the quarter, topping analysts’ consensus estimates of $3.18 by $0.05. The company had revenue of $6.87 billion for the quarter, compared to analysts’ expectations of $6.82 billion. McDonald’s had a net margin of 31.79% and a negative return on equity of 175.42%. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period last year, the firm posted $3.19 earnings per share. As a group, analysts expect that McDonald’s Co. will post 11.75 EPS for the current year.

About McDonald’s

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.