Perigon Wealth Management LLC Has $17.42 Million Stake in McDonald’s Co. (NYSE:MCD)

Perigon Wealth Management LLC boosted its stake in shares of McDonald’s Co. (NYSE:MCD) by 10.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 62,265 shares of the fast-food giant’s stock after buying an additional 5,745 shares during the quarter. Perigon Wealth Management LLC’s holdings in McDonald’s were worth $17,418,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in MCD. Legacy Investment Solutions LLC acquired a new position in shares of McDonald’s in the third quarter worth approximately $25,000. RPg Family Wealth Advisory LLC bought a new position in McDonald’s during the 3rd quarter worth approximately $31,000. Hara Capital LLC bought a new position in McDonald’s during the 3rd quarter worth approximately $44,000. Peterson Financial Group Inc. bought a new stake in shares of McDonald’s in the 3rd quarter valued at $58,000. Finally, FSA Wealth Management LLC bought a new stake in shares of McDonald’s in the 3rd quarter valued at $72,000. Institutional investors own 70.29% of the company’s stock.

Insider Activity

In other McDonald’s news, EVP Desiree Ralls-Morrison sold 3,409 shares of the stock in a transaction on Monday, December 30th. The stock was sold at an average price of $290.15, for a total transaction of $989,121.35. Following the completion of the transaction, the executive vice president now directly owns 9,675 shares of the company’s stock, valued at approximately $2,807,201.25. This represents a 26.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Marion K. Gross sold 1,499 shares of the business’s stock in a transaction 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 owns 1,560 shares in the company, valued at approximately $459,435.60. The trade was a 49.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 8,905 shares of company stock valued at $2,592,327 in the last ninety days. 0.23% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on MCD shares. Baird R W lowered shares of McDonald’s from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 23rd. KeyCorp dropped their price objective on McDonald’s from $330.00 to $320.00 and set an “overweight” rating on the stock in a research note on Friday. Wells Fargo & Company upped their target price on McDonald’s from $285.00 to $350.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. Loop Capital reiterated a “buy” rating and issued a $342.00 target price on shares of McDonald’s in a report on Friday, January 3rd. Finally, Argus upgraded McDonald’s from a “hold” rating to a “buy” rating in a report on Tuesday, October 8th. Ten analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat, McDonald’s presently has an average rating of “Moderate Buy” and an average target price of $320.87.

McDonald’s Stock Performance

NYSE:MCD opened at $293.16 on Tuesday. McDonald’s Co. has a 52 week low of $243.53 and a 52 week high of $317.90. The firm has a 50-day moving average price of $291.07 and a two-hundred day moving average price of $288.70. The firm has a market cap of $210.08 billion, a price-to-earnings ratio of 25.74, a price-to-earnings-growth ratio of 3.66 and a beta of 0.73.

McDonald’s (NYSE:MCD) last issued its quarterly earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $6.87 billion during the quarter, compared to the consensus estimate of $6.82 billion. During the same period last year, the business posted $3.19 earnings per share. McDonald’s’s revenue was up 2.7% on a year-over-year basis. As a group, sell-side analysts forecast that McDonald’s Co. will post 11.72 earnings per share for the current 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.