Sovereign Financial Group Inc. Purchases 146 Shares of McDonald’s Co. (NYSE:MCD)

Sovereign Financial Group Inc. grew its holdings in shares of McDonald’s Co. (NYSE:MCD) by 6.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,403 shares of the fast-food giant’s stock after buying an additional 146 shares during the period. Sovereign Financial Group Inc.’s holdings in McDonald’s were worth $713,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Signature Resources Capital Management LLC bought a new position in McDonald’s in the 4th quarter valued at approximately $31,000. Blue Bell Private Wealth Management LLC lifted its position in McDonald’s by 51.9% during the third quarter. Blue Bell Private Wealth Management LLC now owns 123 shares of the fast-food giant’s stock valued at $32,000 after purchasing an additional 42 shares during the period. Spartan Planning & Wealth Management purchased a new stake in McDonald’s in the third quarter worth approximately $33,000. Keener Financial Planning LLC bought a new stake in McDonald’s in the 4th quarter worth approximately $39,000. Finally, Bear Mountain Capital Inc. bought a new position in shares of McDonald’s during the 4th quarter valued at $43,000. 70.29% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Joseph M. Erlinger sold 1,099 shares of the company’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $284.38, for a total value of $312,533.62. Following the completion of the sale, the insider now directly owns 18,075 shares of the company’s stock, valued at $5,140,168.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, insider Joseph M. Erlinger sold 1,098 shares of the firm’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $276.64, for a total value of $303,750.72. Following the sale, the insider now directly owns 16,977 shares in the company, valued at approximately $4,696,517.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Joseph M. Erlinger sold 1,099 shares of the business’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $284.38, for a total transaction of $312,533.62. Following the transaction, the insider now owns 18,075 shares of the company’s stock, valued at approximately $5,140,168.50. The disclosure for this sale can be found here. Insiders own 0.23% of the company’s stock.

McDonald’s Price Performance

Shares of NYSE:MCD traded up $0.99 on Wednesday, hitting $268.49. 3,245,668 shares of the company’s stock were exchanged, compared to its average volume of 3,309,152. The stock has a market capitalization of $193.58 billion, a price-to-earnings ratio of 22.74, a price-to-earnings-growth ratio of 3.01 and a beta of 0.71. McDonald’s Co. has a 12 month low of $245.73 and a 12 month high of $302.39. The business’s 50 day simple moving average is $278.43 and its two-hundred day simple moving average is $282.90.

McDonald’s (NYSE:MCD) last issued its earnings results on Tuesday, April 30th. The fast-food giant reported $2.70 EPS for the quarter, missing analysts’ consensus estimates of $2.71 by ($0.01). The company had revenue of $6.17 billion for the quarter, compared to analysts’ expectations of $6.16 billion. McDonald’s had a negative return on equity of 180.54% and a net margin of 33.36%. The business’s revenue was up 4.6% compared to the same quarter last year. During the same period last year, the business posted $2.63 earnings per share. Equities analysts forecast that McDonald’s Co. will post 12.18 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Erste Group Bank reissued a “hold” rating on shares of McDonald’s in a research report on Wednesday, April 3rd. Evercore ISI reiterated an “outperform” rating and issued a $330.00 price target on shares of McDonald’s in a research report on Wednesday, March 27th. Stephens reissued an “overweight” rating and set a $320.00 price objective on shares of McDonald’s in a research report on Monday, February 5th. Guggenheim decreased their target price on McDonald’s from $325.00 to $315.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. Finally, Stifel Nicolaus cut their price target on McDonald’s from $315.00 to $300.00 and set a “hold” rating for the company in a report on Thursday, April 11th. Nine research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to MarketBeat, McDonald’s presently has an average rating of “Moderate Buy” and an average price target of $317.74.

About McDonald’s

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.