Picton Mahoney Asset Management Takes $3.63 Million Position in McDonald’s Co. (NYSE:MCD)

Picton Mahoney Asset Management purchased a new stake in McDonald’s Co. (NYSE:MCD) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 12,235 shares of the fast-food giant’s stock, valued at approximately $3,628,000.

Several other hedge funds have also made changes to their positions in the company. Signature Resources Capital Management LLC acquired a new position in shares of McDonald’s in the 4th quarter worth approximately $31,000. Blue Bell Private Wealth Management LLC lifted its holdings in shares of McDonald’s by 51.9% in the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 123 shares of the fast-food giant’s stock worth $32,000 after acquiring an additional 42 shares during the last quarter. Spartan Planning & Wealth Management acquired a new position in shares of McDonald’s in the 3rd quarter worth approximately $33,000. Keener Financial Planning LLC acquired a new position in shares of McDonald’s in the 4th quarter worth approximately $39,000. Finally, Bear Mountain Capital Inc. acquired a new position in shares of McDonald’s in the 4th quarter worth approximately $43,000. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Insider Activity

In other news, insider Joseph M. Erlinger sold 1,098 shares of McDonald’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $276.64, for a total value of $303,750.72. Following the transaction, the insider now owns 16,977 shares of the company’s stock, valued at $4,696,517.28. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, insider Joseph M. Erlinger sold 1,098 shares of the business’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $276.64, for a total transaction of $303,750.72. Following the transaction, the insider now owns 16,977 shares of the company’s stock, valued at $4,696,517.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Joseph M. Erlinger sold 1,099 shares of the business’s stock in a transaction 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 directly owns 18,075 shares in the company, 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

MCD traded up $1.04 during midday trading on Wednesday, hitting $268.54. 3,258,983 shares of the company’s stock traded hands, compared to its average volume of 3,309,299. The company has a market cap of $193.62 billion, a PE ratio of 22.80, a price-to-earnings-growth ratio of 3.01 and a beta of 0.71. The stock’s fifty day simple moving average is $278.43 and its 200-day simple moving average is $282.90. McDonald’s Co. has a one year low of $245.73 and a one year high of $302.39.

McDonald’s (NYSE:MCD) last released its quarterly 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). McDonald’s had a net margin of 33.36% and a negative return on equity of 180.54%. The firm had revenue of $6.17 billion during the quarter, compared to the consensus estimate of $6.16 billion. During the same period in the prior year, the business earned $2.63 EPS. The company’s revenue for the quarter was up 4.6% compared to the same quarter last year. On average, research analysts expect that McDonald’s Co. will post 12.18 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on MCD shares. Royal Bank of Canada reduced their target price on shares of McDonald’s from $340.00 to $335.00 and set an “outperform” rating on the stock in a report on Tuesday, February 6th. Robert W. Baird reduced their target price on shares of McDonald’s from $305.00 to $300.00 and set an “outperform” rating on the stock in a report on Wednesday, May 1st. UBS Group reduced their target price on shares of McDonald’s from $340.00 to $335.00 and set a “buy” rating on the stock in a report on Friday, April 5th. JPMorgan Chase & Co. reduced their target price on shares of McDonald’s from $300.00 to $290.00 and set an “overweight” rating on the stock in a report on Wednesday, May 1st. Finally, Bank of America raised their price objective on shares of McDonald’s from $291.00 to $341.00 and gave the company a “neutral” rating in a report on Monday, January 29th. Nine equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to MarketBeat.com, McDonald’s has an average rating of “Moderate Buy” and an average price target of $317.74.

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.