Abner Herrman & Brock LLC Has $16.42 Million Position in McDonald’s Co. (NYSE:MCD)

Abner Herrman & Brock LLC grew its holdings in McDonald’s Co. (NYSE:MCD) by 1.2% during the fourth quarter, Holdings Channel reports. The firm owned 56,636 shares of the fast-food giant’s stock after acquiring an additional 672 shares during the quarter. McDonald’s comprises about 2.0% of Abner Herrman & Brock LLC’s holdings, making the stock its 24th largest position. Abner Herrman & Brock LLC’s holdings in McDonald’s were worth $16,418,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Geode Capital Management LLC raised its position in shares of McDonald’s by 1.4% during 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 purchasing an additional 220,365 shares during the period. Wellington Management Group LLP increased its stake in McDonald’s by 0.9% during the 3rd 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 in the last quarter. Charles Schwab Investment Management Inc. lifted 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 valued at $1,694,403,000 after buying an additional 49,106 shares in the last quarter. Janus Henderson Group PLC grew its holdings in shares of McDonald’s by 0.7% during the third 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 during the last quarter. Finally, International Assets Investment Management LLC increased its position in shares of McDonald’s by 31,151.1% during the third quarter. International Assets Investment Management LLC now owns 2,319,142 shares of the fast-food giant’s stock worth $706,202,000 after acquiring an additional 2,311,721 shares in the last quarter. Institutional investors and hedge funds own 70.29% of the company’s stock.

McDonald’s Price Performance

Shares of NYSE:MCD opened at $288.83 on Monday. The company has a market capitalization of $206.98 billion, a PE ratio of 25.36, a PEG ratio of 3.83 and a beta of 0.74. The business has a fifty day moving average price of $291.12 and a 200-day moving average price of $289.73. McDonald’s Co. has a 1-year low of $243.53 and a 1-year high of $317.90.

Analyst Upgrades and Downgrades

MCD has been the topic of a number of recent research reports. Truist Financial dropped their target price on McDonald’s from $350.00 to $342.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. TD Cowen reiterated a “hold” rating and issued a $300.00 target price on shares of McDonald’s in a research note on Tuesday, October 29th. Robert W. Baird cut shares of McDonald’s from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $320.00 to $290.00 in a report on Wednesday, October 23rd. Argus upgraded shares of McDonald’s from a “hold” rating to a “buy” rating in a research note on Tuesday, October 8th. Finally, BMO Capital Markets boosted their target price on McDonald’s from $315.00 to $335.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Ten equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $320.87.

Insider Buying and Selling at McDonald’s

In related news, 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 completion of the sale, the insider now owns 9,286 shares in the company, valued at approximately $2,716,155. This trade represents a 10.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Desiree Ralls-Morrison sold 3,409 shares of McDonald’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $290.15, for a total transaction of $989,121.35. Following the completion of the sale, the executive vice president now owns 9,675 shares in the company, valued at approximately $2,807,201.25. This represents a 26.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,406 shares of company stock worth $2,150,857. Company insiders own 0.23% of the company’s stock.

McDonald’s Company 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.