Grimes & Company Inc. Has $3.49 Million Stake in McDonald’s Co. (NYSE:MCD)

Grimes & Company Inc. decreased its position in McDonald’s Co. (NYSE:MCD) by 0.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,037 shares of the fast-food giant’s stock after selling 74 shares during the period. Grimes & Company Inc.’s holdings in McDonald’s were worth $3,489,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

MCD has been the subject of a number of recent analyst reports. Morgan Stanley reduced their price objective on shares of McDonald’s from $340.00 to $336.00 and set an “overweight” rating for the company in a research report on Tuesday. Citigroup upgraded shares of McDonald’s from a “neutral” rating to a “buy” rating and upped their price target for the company from $311.00 to $334.00 in a research note on Friday, January 10th. Evercore ISI increased their target price on shares of McDonald’s from $320.00 to $340.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 15th. Wedbush reiterated an “outperform” rating and issued a $295.00 target price on shares of McDonald’s in a research note on Wednesday, October 23rd. Finally, UBS Group raised their price objective 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. Ten equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $320.78.

Insiders Place Their Bets

In other news, EVP Marion K. Gross sold 1,499 shares of McDonald’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $294.51, for a total value of $441,470.49. Following the completion of the sale, the executive vice president now directly owns 1,560 shares in the company, valued at $459,435.60. The trade was a 49.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Joseph M. Erlinger sold 300 shares of McDonald’s stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $280.75, for a total transaction of $84,225.00. Following the completion of the sale, the insider now owns 7,887 shares of the company’s stock, valued at $2,214,275.25. This represents a 3.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 8,905 shares of company stock valued at $2,592,327. Insiders own 0.23% of the company’s stock.

McDonald’s Price Performance

Shares of NYSE MCD opened at $285.37 on Friday. McDonald’s Co. has a 1 year low of $243.53 and a 1 year high of $317.90. The stock has a market cap of $204.50 billion, a P/E ratio of 25.05, a price-to-earnings-growth ratio of 3.66 and a beta of 0.73. The firm has a 50-day moving average of $291.07 and a 200 day moving average of $288.14.

McDonald’s (NYSE:MCD) last issued its quarterly earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.18 by $0.05. McDonald’s had a net margin of 31.79% and a negative return on equity of 175.42%. The company had revenue of $6.87 billion during the quarter, compared to analysts’ expectations of $6.82 billion. During the same period last year, the company posted $3.19 EPS. McDonald’s’s revenue was up 2.7% on a year-over-year basis. Research analysts expect that McDonald’s Co. will post 11.72 earnings per share 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.