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

Eastern Bank increased its stake in shares of McDonald’s Co. (NYSE:MCD) by 0.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 102,634 shares of the fast-food giant’s stock after purchasing an additional 242 shares during the quarter. Eastern Bank’s holdings in McDonald’s were worth $29,753,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Geode Capital Management LLC grew its stake in McDonald’s by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 15,916,980 shares of the fast-food giant’s stock worth $4,833,510,000 after purchasing an additional 220,365 shares in the last quarter. Wellington Management Group LLP grew its stake in McDonald’s by 0.9% during the 3rd quarter. Wellington Management Group LLP now owns 15,082,894 shares of the fast-food giant’s stock worth $4,592,892,000 after purchasing an additional 128,800 shares in the last quarter. Legal & General Group Plc grew its stake in McDonald’s by 3.2% during the 2nd quarter. Legal & General Group Plc now owns 6,149,080 shares of the fast-food giant’s stock worth $1,567,030,000 after purchasing an additional 188,888 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in McDonald’s by 0.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,564,359 shares of the fast-food giant’s stock worth $1,694,403,000 after purchasing an additional 49,106 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its stake in McDonald’s by 8.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 4,761,625 shares of the fast-food giant’s stock worth $1,216,677,000 after purchasing an additional 354,196 shares in the last quarter. 70.29% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Citigroup raised McDonald’s from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $311.00 to $334.00 in a research report on Friday. The Goldman Sachs Group upped their price objective on McDonald’s from $284.00 to $325.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 24th. Wells Fargo & Company upped their price objective on McDonald’s from $285.00 to $350.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. UBS Group upped their price objective on McDonald’s from $305.00 to $345.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Finally, KeyCorp upped their price objective on McDonald’s from $305.00 to $330.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Ten analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $321.39.

McDonald’s Price Performance

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

McDonald’s (NYSE:MCD) last issued its earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share (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% on a year-over-year basis. During the same period in the prior year, the business posted $3.19 EPS. As a group, analysts predict that McDonald’s Co. will post 11.75 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Marion K. Gross sold 1,499 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $294.51, for a total value of $441,470.49. Following the sale, the executive vice president now owns 1,560 shares in the company, valued at $459,435.60. This represents a 49.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Desiree Ralls-Morrison sold 3,409 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $290.15, for a total value of $989,121.35. Following the completion of the sale, the executive vice president now owns 9,675 shares in the company, valued at approximately $2,807,201.25. This represents a 26.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,704 shares of company stock worth $2,829,428 in the last quarter. Company insiders own 0.23% of the company’s stock.

McDonald’s 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.