McDonald’s Co. (NYSE:MCD) Shares Purchased by Eastern Bank

Eastern Bank raised its stake in shares of McDonald’s Co. (NYSE:MCD) by 0.2% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 102,634 shares of the fast-food giant’s stock after buying an additional 242 shares during the period. Eastern Bank’s holdings in McDonald’s were worth $29,753,000 at the end of the most recent reporting period.

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

Insider Buying and Selling

In related news, insider Joseph M. Erlinger sold 1,099 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $292.50, for a total transaction of $321,457.50. Following the sale, the insider now owns 9,286 shares of the company’s stock, valued at $2,716,155. The trade was a 10.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Marion K. Gross sold 1,499 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $290.95, for a total value of $436,134.05. Following the sale, the executive vice president now directly owns 1,560 shares in the company, valued at approximately $453,882. The trade was a 49.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 9,704 shares of company stock worth $2,829,428. Corporate insiders own 0.23% of the company’s stock.

Analyst Ratings Changes

MCD has been the topic of several analyst reports. Citigroup upgraded McDonald’s from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $311.00 to $334.00 in a report on Friday. TD Cowen reaffirmed a “hold” rating and issued a $300.00 target price on shares of McDonald’s in a research report on Tuesday, October 29th. UBS Group increased their target price on McDonald’s from $305.00 to $345.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Morgan Stanley increased their target price on McDonald’s from $296.00 to $340.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 15th. Finally, Baird R W lowered McDonald’s from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. Ten analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat, McDonald’s presently has a consensus rating of “Moderate Buy” and an average target price of $321.39.

McDonald’s Price Performance

NYSE:MCD traded up $0.92 during mid-day trading on Monday, reaching $283.23. The stock had a trading volume of 1,662,094 shares, compared to its average volume of 2,833,083. The company has a market capitalization of $202.97 billion, a price-to-earnings ratio of 24.87, a price-to-earnings-growth ratio of 3.95 and a beta of 0.73. McDonald’s Co. has a 1-year low of $243.53 and a 1-year high of $317.90. The stock’s 50 day simple moving average is $293.94 and its two-hundred day simple moving average is $286.47.

McDonald’s (NYSE:MCD) last posted its quarterly earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 EPS for the quarter, topping analysts’ consensus estimates of $3.18 by $0.05. The business had revenue of $6.87 billion during the quarter, compared to the consensus estimate of $6.82 billion. McDonald’s had a negative return on equity of 175.42% and a net margin of 31.79%. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period last year, the firm earned $3.19 earnings per share. Sell-side analysts anticipate that McDonald’s Co. will post 11.75 EPS for the current fiscal year.

McDonald’s Company Profile

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.