Audent Global Asset Management LLC Trims Holdings in McDonald’s Corporation $MCD

Audent Global Asset Management LLC reduced its holdings in shares of McDonald’s Corporation (NYSE:MCD) by 79.8% during the 3rd quarter, HoldingsChannel reports. The firm 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 filing with the SEC.

A number of other institutional investors also recently bought and sold shares of MCD. Federated Hermes Inc. lifted its position in McDonald’s by 84.1% in the second quarter. Federated Hermes Inc. now owns 141,775 shares of the fast-food giant’s stock valued at $41,422,000 after purchasing an additional 64,757 shares during the period. Global X Japan Co. Ltd. raised its stake in shares of McDonald’s by 236.7% during the 3rd quarter. Global X Japan Co. Ltd. now owns 6,502 shares of the fast-food giant’s stock worth $1,976,000 after buying an additional 4,571 shares in the last quarter. Welch Group LLC lifted its holdings in shares of McDonald’s by 1.1% in the 2nd quarter. Welch Group LLC now owns 206,004 shares of the fast-food giant’s stock valued at $60,188,000 after buying an additional 2,180 shares during the period. D.A. Davidson & CO. boosted its stake in shares of McDonald’s by 2.7% in the third quarter. D.A. Davidson & CO. now owns 143,492 shares of the fast-food giant’s stock valued at $43,606,000 after buying an additional 3,774 shares in the last quarter. Finally, Choreo LLC grew its holdings in McDonald’s by 1.7% during the second quarter. Choreo LLC now owns 58,515 shares of the fast-food giant’s stock worth $17,096,000 after acquiring an additional 954 shares during the period. 70.29% of the stock is currently owned by institutional investors and hedge funds.

McDonald’s Stock Performance

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

McDonald’s (NYSE:MCD) last released its quarterly earnings results on Wednesday, November 5th. The fast-food giant reported $3.22 earnings per share for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.11). McDonald’s had a negative return on equity of 280.89% and a net margin of 32.04%.The company had revenue of $7.08 billion during the quarter, compared to analyst estimates of $7.10 billion. During the same period last year, the firm earned $3.23 earnings per share. The business’s revenue was up 3.0% compared to the same quarter last year. On average, research analysts predict that McDonald’s Corporation will post 12.25 earnings per share for the current year.

Wall Street Analyst Weigh In

MCD has been the subject of a number of recent analyst reports. Robert W. Baird raised their target price on McDonald’s from $322.00 to $325.00 and gave the company a “neutral” rating in a report on Thursday, November 6th. Morgan Stanley set a $335.00 price objective on shares of McDonald’s in a research note on Friday, October 17th. Weiss Ratings reissued a “buy (b-)” rating on shares of McDonald’s in a report on Wednesday. BMO Capital Markets reaffirmed an “outperform” rating on shares of McDonald’s in a report on Thursday, November 6th. Finally, TD Cowen reiterated a “hold” rating on shares of McDonald’s in a research report on Thursday, January 8th. Thirteen analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, McDonald’s currently has an average rating of “Hold” and an average price target of $328.88.

Insider Activity

In other news, CFO Ian Frederick Borden sold 17,134 shares of McDonald’s stock in a transaction dated 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 in the company, valued at $8,169,430. The trade was a 39.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Joseph M. Erlinger sold 3,195 shares of the company’s stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $305.82, for a total transaction of $977,094.90. Following the transaction, the insider directly owned 6,088 shares in the company, valued at $1,861,832.16. The trade was a 34.42% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 45,142 shares of company stock worth $13,841,169. Company insiders own 0.25% of the company’s stock.

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.