AustralianSuper Pty Ltd Purchases 51,629 Shares of McDonald’s Corporation $MCD

AustralianSuper Pty Ltd lifted its position in shares of McDonald’s Corporation (NYSE:MCD) by 1,509.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 55,050 shares of the fast-food giant’s stock after acquiring an additional 51,629 shares during the quarter. AustralianSuper Pty Ltd’s holdings in McDonald’s were worth $16,729,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Evergreen Private Wealth LLC increased its stake in shares of McDonald’s by 162.5% in the third quarter. Evergreen Private Wealth LLC now owns 84 shares of the fast-food giant’s stock worth $26,000 after purchasing an additional 52 shares in the last quarter. Decker Retirement Planning Inc. boosted its holdings in McDonald’s by 142.9% in the 2nd quarter. Decker Retirement Planning Inc. now owns 85 shares of the fast-food giant’s stock worth $25,000 after buying an additional 50 shares during the period. Legacy Investment Solutions LLC purchased a new position in McDonald’s in the 2nd quarter valued at approximately $25,000. GFG Capital LLC bought a new stake in McDonald’s during the 2nd quarter valued at $29,000. Finally, Financial Gravity Companies Inc. purchased a new stake in shares of McDonald’s during the second quarter worth $29,000. 70.29% of the stock is currently owned by institutional investors.

Insider Activity at McDonald’s

In other McDonald’s news, CFO Ian Frederick Borden sold 17,134 shares of the firm’s stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $310.00, for a total transaction of $5,311,540.00. Following the sale, the chief financial officer owned 26,353 shares in the company, valued at $8,169,430. This trade represents a 39.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Manuel Jm Steijaert sold 6,567 shares of the company’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $305.50, for a total value of $2,006,218.50. Following the completion of the transaction, the executive vice president owned 4,606 shares of the company’s stock, valued at $1,407,133. The trade was a 58.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 45,142 shares of company stock worth $13,841,169. Corporate insiders own 0.25% of the company’s stock.

McDonald’s Trading Up 0.8%

Shares of MCD opened at $315.17 on Friday. McDonald’s Corporation has a 12-month low of $283.47 and a 12-month high of $326.32. The company has a market cap of $224.44 billion, a PE ratio of 26.89, a price-to-earnings-growth ratio of 3.16 and a beta of 0.53. The stock has a 50-day moving average price of $309.64 and a 200-day moving average price of $306.32.

McDonald’s (NYSE:MCD) last announced its 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 net margin of 32.04% and a negative return on equity of 280.89%. The company had revenue of $7.08 billion during the quarter, compared to analysts’ expectations of $7.10 billion. During the same period in the prior year, the business earned $3.23 earnings per share. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. As a group, analysts predict that McDonald’s Corporation will post 12.25 earnings per share for the current year.

Analyst Upgrades and Downgrades

MCD has been the subject of several recent research reports. Oppenheimer upgraded McDonald’s from a “market perform” rating to an “outperform” rating and set a $355.00 price target for the company in a research report on Tuesday, January 6th. BTIG Research restated a “neutral” rating on shares of McDonald’s in a research note on Friday, October 24th. Truist Financial lifted their target price on McDonald’s from $350.00 to $356.00 and gave the company a “buy” rating in a report on Thursday, January 8th. Robert W. Baird increased their price target on shares of McDonald’s from $322.00 to $325.00 and gave the stock a “neutral” rating in a report on Thursday, November 6th. Finally, KeyCorp raised their price objective on shares of McDonald’s from $335.00 to $340.00 and gave the company an “overweight” rating in a research report on Friday, January 9th. Thirteen equities research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, McDonald’s has an average rating of “Hold” and a consensus price target of $328.88.

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.