McDonald’s Co. (NYSE:MCD) Shares Purchased by Sovereign Financial Group Inc.

Sovereign Financial Group Inc. grew its stake in shares of McDonald’s Co. (NYSE:MCD) by 6.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,403 shares of the fast-food giant’s stock after acquiring an additional 146 shares during the quarter. Sovereign Financial Group Inc.’s holdings in McDonald’s were worth $713,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of MCD. Ironwood Wealth Management LLC. increased its holdings in shares of McDonald’s by 2.6% during the 3rd quarter. Ironwood Wealth Management LLC. now owns 3,912 shares of the fast-food giant’s stock valued at $1,031,000 after purchasing an additional 100 shares in the last quarter. BluePath Capital Management LLC purchased a new stake in shares of McDonald’s during the 3rd quarter worth about $166,000. Crescent Grove Advisors LLC grew its position in shares of McDonald’s by 12.1% during the 3rd quarter. Crescent Grove Advisors LLC now owns 1,514 shares of the fast-food giant’s stock valued at $399,000 after acquiring an additional 164 shares during the period. Brighton Jones LLC raised its holdings in McDonald’s by 10.4% in the 3rd quarter. Brighton Jones LLC now owns 6,352 shares of the fast-food giant’s stock worth $1,673,000 after purchasing an additional 600 shares during the period. Finally, WESPAC Advisors LLC purchased a new position in McDonald’s during the third quarter worth approximately $224,000. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Wall Street Analyst Weigh In

MCD has been the subject of several research reports. Stifel Nicolaus dropped their price objective on shares of McDonald’s from $315.00 to $300.00 and set a “hold” rating for the company in a research note on Thursday, April 11th. StockNews.com lowered McDonald’s from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. BTIG Research downgraded McDonald’s from a “buy” rating to a “neutral” rating in a research note on Tuesday, February 6th. TD Cowen reissued a “buy” rating and set a $305.00 price target on shares of McDonald’s in a research report on Tuesday, April 30th. Finally, Citigroup cut their target price on McDonald’s from $312.00 to $297.00 and set a “neutral” rating for the company in a research note on Tuesday, April 16th. Nine investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $317.74.

Insider Buying and Selling at McDonald’s

In other news, insider Joseph M. Erlinger sold 1,098 shares of the company’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $276.64, for a total value of $303,750.72. Following the sale, the insider now directly owns 16,977 shares in the company, valued at $4,696,517.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Joseph M. Erlinger sold 1,098 shares of the company’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $276.64, for a total transaction of $303,750.72. Following the completion of the sale, the insider now directly owns 16,977 shares in the company, valued at approximately $4,696,517.28. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Joseph M. Erlinger sold 1,099 shares of McDonald’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $284.38, for a total transaction of $312,533.62. Following the transaction, the insider now directly owns 18,075 shares in the company, valued at $5,140,168.50. The disclosure for this sale can be found here. 0.23% of the stock is owned by corporate insiders.

McDonald’s Stock Performance

NYSE MCD traded up $0.99 during trading on Wednesday, reaching $268.49. The company’s stock had a trading volume of 3,245,668 shares, compared to its average volume of 3,309,152. McDonald’s Co. has a twelve month low of $245.73 and a twelve month high of $302.39. The firm has a market cap of $193.58 billion, a price-to-earnings ratio of 22.74, a P/E/G ratio of 3.01 and a beta of 0.71. The business’s fifty day moving average price is $278.43 and its 200-day moving average price is $282.90.

McDonald’s (NYSE:MCD) last released its earnings results on Tuesday, April 30th. The fast-food giant reported $2.70 EPS for the quarter, missing the consensus estimate of $2.71 by ($0.01). McDonald’s had a negative return on equity of 180.54% and a net margin of 33.36%. The firm had revenue of $6.17 billion during the quarter, compared to analyst estimates of $6.16 billion. During the same quarter last year, the business posted $2.63 EPS. The firm’s revenue was up 4.6% on a year-over-year basis. As a group, sell-side analysts forecast that McDonald’s Co. will post 12.18 EPS for the current fiscal 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.