Schmidt P J Investment Management Inc. Sells 564 Shares of McDonald’s Co. (NYSE:MCD)

Schmidt P J Investment Management Inc. cut its holdings in McDonald’s Co. (NYSE:MCD) by 1.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 30,344 shares of the fast-food giant’s stock after selling 564 shares during the quarter. McDonald’s comprises 1.5% of Schmidt P J Investment Management Inc.’s portfolio, making the stock its 16th largest position. Schmidt P J Investment Management Inc.’s holdings in McDonald’s were worth $8,796,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. International Assets Investment Management LLC increased its position in shares of McDonald’s by 31,151.1% in the 3rd quarter. International Assets Investment Management LLC now owns 2,319,142 shares of the fast-food giant’s stock valued at $706,202,000 after buying an additional 2,311,721 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its position in McDonald’s by 542.9% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 801,858 shares of the fast-food giant’s stock worth $244,174,000 after buying an additional 677,139 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in McDonald’s during the third quarter valued at approximately $121,254,000. Zurich Insurance Group Ltd FI boosted its holdings in shares of McDonald’s by 3,580.1% in the 3rd quarter. Zurich Insurance Group Ltd FI now owns 268,650 shares of the fast-food giant’s stock valued at $81,807,000 after buying an additional 261,350 shares during the last quarter. Finally, Union Bancaire Privee UBP SA bought a new position in shares of McDonald’s in the 4th quarter valued at about $64,805,000. 70.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on MCD. BMO Capital Markets raised their target price on shares of McDonald’s from $315.00 to $335.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Wells Fargo & Company increased their price objective on McDonald’s from $285.00 to $350.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. UBS Group boosted their target price on shares of McDonald’s from $305.00 to $345.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. TD Cowen reiterated a “hold” rating and issued a $300.00 price objective on shares of McDonald’s in a research note on Tuesday, October 29th. Finally, Loop Capital reiterated a “buy” rating and set a $342.00 target price on shares of McDonald’s in a research report on Friday, January 3rd. Eleven equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $319.57.

McDonald’s Stock Performance

NYSE:MCD opened at $288.49 on Thursday. The firm has a 50-day simple moving average of $290.88 and a two-hundred day simple moving average of $290.38. The firm has a market cap of $206.74 billion, a P/E ratio of 25.33, a P/E/G ratio of 3.83 and a beta of 0.74. McDonald’s Co. has a fifty-two week low of $243.53 and a fifty-two week high of $317.90.

Insider Transactions at McDonald’s

In other news, insider Joseph M. Erlinger sold 1,099 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $292.50, for a total transaction of $321,457.50. Following the sale, the insider now directly owns 9,286 shares of the company’s stock, valued at $2,716,155. This represents a 10.58 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Marion K. Gross sold 1,499 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $290.95, for a total transaction of $436,134.05. Following the completion of the transaction, the executive vice president now directly owns 1,560 shares of the company’s stock, valued at approximately $453,882. The trade was a 49.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,406 shares of company stock worth $2,150,857 in the last 90 days. 0.23% of the stock is currently owned by insiders.

McDonald’s 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.