Ashton Thomas Private Wealth LLC Purchases 4,108 Shares of McDonald’s Corporation $MCD

Ashton Thomas Private Wealth LLC grew its position in McDonald’s Corporation (NYSE:MCDFree Report) by 24.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 21,183 shares of the fast-food giant’s stock after buying an additional 4,108 shares during the quarter. Ashton Thomas Private Wealth LLC’s holdings in McDonald’s were worth $6,437,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new position in McDonald’s during the 2nd quarter valued at about $2,780,712,000. Laurel Wealth Advisors LLC boosted its stake in shares of McDonald’s by 29,382.3% during the second quarter. Laurel Wealth Advisors LLC now owns 5,737,548 shares of the fast-food giant’s stock valued at $1,676,339,000 after purchasing an additional 5,718,087 shares in the last quarter. Soundwatch Capital LLC bought a new position in shares of McDonald’s during the second quarter valued at approximately $1,412,069,000. Viking Global Investors LP increased its holdings in McDonald’s by 171.7% during the second quarter. Viking Global Investors LP now owns 3,125,432 shares of the fast-food giant’s stock valued at $913,157,000 after buying an additional 1,974,998 shares during the period. Finally, Amundi raised its stake in McDonald’s by 96.0% in the second quarter. Amundi now owns 4,032,676 shares of the fast-food giant’s stock worth $1,188,147,000 after buying an additional 1,974,751 shares in the last quarter. Hedge funds and other institutional investors own 70.29% of the company’s stock.

McDonald’s Stock Performance

Shares of NYSE MCD opened at $323.28 on Thursday. McDonald’s Corporation has a fifty-two week low of $283.47 and a fifty-two week high of $326.95. The company has a market cap of $230.22 billion, a PE ratio of 27.58, a P/E/G ratio of 3.23 and a beta of 0.52. The business has a 50-day simple moving average of $310.43 and a two-hundred day simple moving average of $306.92.

McDonald’s (NYSE:MCDGet Free Report) last announced its quarterly earnings data on Wednesday, November 5th. The fast-food giant reported $3.22 EPS for the quarter, missing the consensus estimate of $3.33 by ($0.11). The company had revenue of $7.08 billion during the quarter, compared to analysts’ expectations of $7.10 billion. McDonald’s had a net margin of 32.04% and a negative return on equity of 280.89%. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period in the previous year, the business earned $3.23 earnings per share. On average, sell-side analysts predict that McDonald’s Corporation will post 12.25 earnings per share for the current fiscal year.

Insider Activity at McDonald’s

In related news, CFO Ian Frederick Borden sold 17,134 shares of the company’s stock in a transaction on Friday, November 21st. The stock was sold at an average price of $310.00, for a total value of $5,311,540.00. Following the transaction, the chief financial officer directly owned 26,353 shares of the company’s stock, valued at $8,169,430. This represents a 39.40% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Manuel Jm Steijaert sold 6,567 shares of the firm’s stock in a transaction on Monday, December 1st. The stock was sold at an average price of $305.50, for a total value of $2,006,218.50. Following the completion of the transaction, the executive vice president owned 4,606 shares of the company’s stock, valued at $1,407,133. This trade represents a 58.78% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 32,008 shares of company stock worth $9,895,452. 0.25% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts have issued reports on MCD shares. Mizuho raised McDonald’s to a “hold” rating in a research report on Tuesday, October 28th. BMO Capital Markets restated an “outperform” rating on shares of McDonald’s in a research note on Thursday, November 6th. Royal Bank Of Canada started coverage on McDonald’s in a research report on Wednesday, October 8th. They set a “sector perform” rating and a $320.00 price objective on the stock. Guggenheim boosted their target price on shares of McDonald’s from $310.00 to $325.00 and gave the stock a “neutral” rating in a report on Tuesday. Finally, Oppenheimer upgraded shares of McDonald’s from a “market perform” rating to an “outperform” rating and set a $355.00 price target on the stock in a report on Tuesday, January 6th. Fifteen equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, McDonald’s currently has an average rating of “Hold” and an average price target of $331.37.

View Our Latest Stock Report on McDonald’s

McDonald’s News Summary

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About McDonald’s

(Free Report)

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.

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Institutional Ownership by Quarter for McDonald's (NYSE:MCD)

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