McDonald’s Corporation $MCD Shares Sold by Audent Global Asset Management LLC

Audent Global Asset Management LLC trimmed its position in shares of McDonald’s Corporation (NYSE:MCD) by 79.8% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,067 shares of the fast-food giant’s stock after selling 4,212 shares during the period. Audent Global Asset Management LLC’s holdings in McDonald’s were worth $324,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Tyche Wealth Partners LLC raised its holdings in shares of McDonald’s by 3.4% in the 3rd quarter. Tyche Wealth Partners LLC now owns 10,085 shares of the fast-food giant’s stock valued at $3,065,000 after buying an additional 330 shares during the period. Howard Capital Management Inc. grew its position in McDonald’s by 1.3% in the 3rd quarter. Howard Capital Management Inc. now owns 5,525 shares of the fast-food giant’s stock valued at $1,679,000 after acquiring an additional 72 shares in the last quarter. Berman McAleer LLC purchased a new stake in McDonald’s during the third quarter worth about $304,000. National Pension Service boosted its stake in shares of McDonald’s by 2.5% in the third quarter. National Pension Service now owns 1,533,015 shares of the fast-food giant’s stock valued at $465,868,000 after purchasing an additional 37,744 shares during the period. Finally, Hoge Financial Services LLC boosted its stake in shares of McDonald’s by 4.4% in the third quarter. Hoge Financial Services LLC now owns 1,947 shares of the fast-food giant’s stock valued at $592,000 after purchasing an additional 82 shares during the period. 70.29% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Guggenheim increased their target price on shares of McDonald’s from $295.00 to $310.00 and gave the stock a “neutral” rating in a report on Wednesday, November 19th. Mizuho raised McDonald’s to a “hold” rating in a research report on Tuesday, October 28th. KeyCorp increased their price objective on McDonald’s from $335.00 to $340.00 and gave the company an “overweight” rating in a research note on Friday, January 9th. TD Cowen reissued a “hold” rating on shares of McDonald’s in a research note on Thursday, January 8th. Finally, Wells Fargo & Company upped their price target on McDonald’s from $340.00 to $345.00 and gave the stock an “overweight” rating in a report on Thursday, November 6th. Thirteen research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, McDonald’s has an average rating of “Hold” and a consensus price target of $328.88.

Insider Activity at McDonald’s

In related news, insider Joseph M. Erlinger sold 3,195 shares of the stock in a transaction on Friday, November 14th. The shares were sold at an average price of $305.82, for a total value of $977,094.90. Following the transaction, the insider directly owned 6,088 shares of the company’s stock, valued at $1,861,832.16. This trade represents a 34.42% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Ian Frederick Borden sold 17,134 shares of the business’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $310.00, for a total transaction of $5,311,540.00. Following the completion of the sale, the chief financial officer directly owned 26,353 shares of the company’s stock, valued at approximately $8,169,430. This trade represents a 39.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 45,142 shares of company stock worth $13,841,169. Corporate insiders own 0.25% of the company’s stock.

McDonald’s Stock Performance

NYSE:MCD opened at $314.86 on Friday. McDonald’s Corporation has a 1 year low of $283.47 and a 1 year high of $326.32. The stock has a market cap of $224.23 billion, a P/E ratio of 26.87, a P/E/G ratio of 3.19 and a beta of 0.53. The stock has a 50-day simple moving average of $309.76 and a 200-day simple moving average of $306.41.

McDonald’s (NYSE:MCD) last posted its 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). The business had revenue of $7.08 billion for the quarter, compared to analysts’ expectations of $7.10 billion. McDonald’s had a negative return on equity of 280.89% and a net margin of 32.04%.McDonald’s’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.23 EPS. On average, equities research analysts predict that McDonald’s Corporation will post 12.25 EPS for the current year.

McDonald’s Profile

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.