949 Shares in McDonald’s Co. (NYSE:MCD) Bought by Hartford Funds Management Co LLC

Hartford Funds Management Co LLC purchased a new stake in McDonald’s Co. (NYSE:MCD – Get Rating) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 949 shares of the fast-food giant’s stock, valued at approximately $219,000. McDonald’s makes up approximately 0.0% of Hartford Funds Management Co LLC’s investment portfolio, making the stock its 27th largest holding.

A number of other hedge funds also recently bought and sold shares of MCD. West Financial Advisors LLC lifted its holdings in McDonald’s by 520.0% during the 3rd quarter. West Financial Advisors LLC now owns 124 shares of the fast-food giant’s stock worth $29,000 after buying an additional 104 shares during the last quarter. WD Rutherford LLC purchased a new stake in McDonald’s during the third quarter worth approximately $36,000. Disciplined Equity Management Inc. acquired a new position in McDonald’s in the second quarter valued at approximately $39,000. Cowa LLC acquired a new stake in McDonald’s during the third quarter worth approximately $39,000. Finally, McClarren Financial Advisors Inc. purchased a new stake in shares of McDonald’s during the 3rd quarter worth approximately $43,000. Institutional investors and hedge funds own 66.86% of the company’s stock.

McDonald’s Stock Performance

MCD traded up $0.75 on Wednesday, hitting $270.31. 521,202 shares of the company were exchanged, compared to its average volume of 2,426,163. The business’s fifty day moving average is $269.69 and its 200 day moving average is $260.95. McDonald’s Co. has a fifty-two week low of $217.68 and a fifty-two week high of $281.67. The firm has a market capitalization of $197.98 billion, a P/E ratio of 33.95, a price-to-earnings-growth ratio of 3.14 and a beta of 0.63.

McDonald’s (NYSE:MCD – Get Rating) last issued its quarterly earnings data on Thursday, October 27th. The fast-food giant reported $2.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.57 by $0.11. The firm had revenue of $5.87 billion during the quarter, compared to analysts’ expectations of $5.70 billion. McDonald’s had a negative return on equity of 123.40% and a net margin of 25.42%. McDonald’s’s revenue was down 5.3% on a year-over-year basis. During the same period in the previous year, the firm posted $2.76 earnings per share. Analysts forecast that McDonald’s Co. will post 9.93 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. JPMorgan Chase & Co. lifted their price target on shares of McDonald’s from $250.00 to $262.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 18th. Citigroup lifted their target price on McDonald’s from $265.00 to $270.00 and gave the stock a “neutral” rating in a research report on Thursday, December 1st. Barclays upped their target price on McDonald’s from $295.00 to $310.00 and gave the company an “overweight” rating in a research report on Thursday, January 5th. Royal Bank of Canada boosted their price objective on McDonald’s from $275.00 to $295.00 and gave the company an “outperform” rating in a research note on Friday, October 28th. Finally, Truist Financial raised their target price on shares of McDonald’s from $276.00 to $300.00 and gave the stock a “buy” rating in a research report on Friday, October 28th. Five investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $289.19.

McDonald’s Company Profile

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McDonald’s Corp. engages in the operation and franchising of restaurants. It operates through the following segments: U.S., International Operated Markets, and International Developmental Licensed Markets and Corporate. The U.S. segment focuses its operations on the United States. The International Operated Markets segment consists of operations and the franchising of restaurants in Australia, Canada, France, Germany, Italy, the Netherlands, Russia, Spain, and the U.K.