Miracle Mile Advisors LLC Raises Holdings in McDonald’s Co. (NYSE:MCD)

Miracle Mile Advisors LLC raised its position in shares of McDonald’s Co. (NYSE:MCD) by 60.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 82,350 shares of the fast-food giant’s stock after acquiring an additional 31,176 shares during the period. Miracle Mile Advisors LLC’s holdings in McDonald’s were worth $23,872,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its stake in 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 buying an additional 220,365 shares during the period. Wellington Management Group LLP raised its position in McDonald’s by 0.9% in the third 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 during the period. Legal & General Group Plc lifted its stake in shares of McDonald’s by 3.2% during the second quarter. Legal & General Group Plc now owns 6,149,080 shares of the fast-food giant’s stock worth $1,567,030,000 after purchasing an additional 188,888 shares in the last quarter. Charles Schwab Investment Management Inc. grew 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. Finally, Ameriprise Financial Inc. raised its stake in shares of McDonald’s by 8.0% during the second quarter. Ameriprise Financial Inc. now owns 4,761,625 shares of the fast-food giant’s stock valued at $1,216,677,000 after purchasing an additional 354,196 shares during the period. 70.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Marion K. Gross sold 1,499 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $290.95, for a total value of $436,134.05. Following the sale, the executive vice president now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Joseph M. Erlinger sold 1,099 shares of the company’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $292.38, for a total value of $321,325.62. Following the completion of the sale, the insider now owns 10,385 shares of the company’s stock, valued at approximately $3,036,366.30. This trade represents a 9.57 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 9,704 shares of company stock valued at $2,829,428. Company insiders own 0.23% of the company’s stock.

McDonald’s Trading Up 0.3 %

NYSE:MCD traded up $0.89 during mid-day trading on Monday, hitting $283.20. The stock had a trading volume of 3,385,330 shares, compared to its average volume of 3,095,974. The company has a 50 day simple moving average of $293.94 and a 200-day simple moving average of $286.47. The stock has a market capitalization of $202.95 billion, a price-to-earnings ratio of 24.86, a P/E/G ratio of 3.95 and a beta of 0.73. McDonald’s Co. has a 52 week low of $243.53 and a 52 week high of $317.90.

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

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on MCD shares. Morgan Stanley lifted their price target on shares of McDonald’s from $296.00 to $340.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 15th. Guggenheim lowered McDonald’s from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $290.00 to $285.00 in a research report on Wednesday, October 23rd. KeyCorp increased their price target on McDonald’s from $305.00 to $330.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Wedbush restated an “outperform” rating and set a $295.00 price objective on shares of McDonald’s in a report on Wednesday, October 23rd. Finally, Loop Capital reaffirmed a “buy” rating and issued a $342.00 target price on shares of McDonald’s in a research report on Friday, January 3rd. Ten research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $321.39.

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.