Mediolanum International Funds Ltd Increases Position in McDonald’s Corporation $MCD

Mediolanum International Funds Ltd lifted its holdings in shares of McDonald’s Corporation (NYSE:MCD) by 174.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 87,013 shares of the fast-food giant’s stock after acquiring an additional 55,358 shares during the quarter. Mediolanum International Funds Ltd’s holdings in McDonald’s were worth $26,364,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of MCD. Norges Bank bought a new position in McDonald’s during the second quarter valued at about $2,780,712,000. Laurel Wealth Advisors LLC raised its position in McDonald’s by 29,382.3% in the second quarter. Laurel Wealth Advisors LLC now owns 5,737,548 shares of the fast-food giant’s stock worth $1,676,339,000 after acquiring an additional 5,718,087 shares during the period. Soundwatch Capital LLC purchased a new position in McDonald’s in the second quarter valued at about $1,412,069,000. Viking Global Investors LP grew its position in shares of McDonald’s by 171.7% during the 2nd quarter. Viking Global Investors LP now owns 3,125,432 shares of the fast-food giant’s stock valued at $913,157,000 after acquiring an additional 1,974,998 shares during the period. Finally, Amundi increased its stake in shares of McDonald’s by 96.0% during the 2nd quarter. Amundi now owns 4,032,676 shares of the fast-food giant’s stock worth $1,188,147,000 after purchasing an additional 1,974,751 shares during the last quarter. 70.29% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Truist Financial upped their price objective on McDonald’s from $350.00 to $356.00 and gave the company a “buy” rating in a research note on Thursday, January 8th. Mizuho raised McDonald’s to a “hold” rating in a research report on Tuesday, October 28th. Guggenheim lifted their price objective on McDonald’s from $295.00 to $310.00 and gave the stock a “neutral” rating in a report on Wednesday, November 19th. Royal Bank Of Canada began coverage on shares of McDonald’s in a report on Wednesday, October 8th. They set a “sector perform” rating and a $320.00 price objective on the stock. Finally, BMO Capital Markets reiterated an “outperform” rating on shares of McDonald’s in a research report on Thursday, November 6th. Thirteen equities research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $328.88.

McDonald’s Stock Performance

Shares of MCD opened at $314.86 on Friday. McDonald’s Corporation has a 52-week low of $283.47 and a 52-week high of $326.32. The stock’s 50-day simple moving average is $309.76 and its 200 day simple moving average is $306.46. The stock has a market capitalization of $224.23 billion, a price-to-earnings ratio of 26.87, a price-to-earnings-growth ratio of 3.19 and a beta of 0.53.

McDonald’s (NYSE:MCD) last announced its quarterly earnings results on Wednesday, November 5th. The fast-food giant reported $3.22 earnings per share for the quarter, missing the consensus estimate of $3.33 by ($0.11). McDonald’s had a net margin of 32.04% and a negative return on equity of 280.89%. The company had revenue of $7.08 billion for the quarter, compared to the consensus estimate of $7.10 billion. During the same quarter in the prior year, the company earned $3.23 earnings per share. The company’s quarterly revenue was up 3.0% on a year-over-year basis. On average, research analysts forecast that McDonald’s Corporation will post 12.25 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Ian Frederick Borden sold 17,134 shares of the company’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $310.00, for a total value of $5,311,540.00. Following the transaction, the chief financial officer owned 26,353 shares of the company’s stock, valued at approximately $8,169,430. This represents a 39.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Joseph M. Erlinger sold 2,626 shares of McDonald’s stock in a transaction on Monday, January 12th. The shares were sold at an average price of $306.58, for a total value of $805,079.08. Following the sale, the insider directly owned 5,398 shares of the company’s stock, valued at $1,654,918.84. This represents a 32.73% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 45,142 shares of company stock valued at $13,841,169. 0.25% of the stock is owned by company insiders.

About McDonald’s

McDonald’s Corporation (NYSE: MCD) is a global quick-service restaurant company best known for its hamburgers, French fries and breakfast offerings. The company develops, operates and franchises a system of restaurants that sell a range of food and beverage items, including signature products such as the Big Mac, Quarter Pounder, Chicken McNuggets, McCafé coffee beverages and a variety of salads, desserts and seasonal menu items. McDonald’s serves customers through company-operated restaurants and franchised locations, and it supports sales via dine-in, drive-thru, digital ordering platforms and third-party delivery partnerships.

Founded in 1940 by brothers Richard and Maurice McDonald as a single San Bernardino, California restaurant, the business was transformed into a franchising model after Ray Kroc joined in the mid-1950s and led the brand’s national and international expansion.