Innova Wealth Partners Acquires Shares of 834 McDonald’s Co. (NYSE:MCD)

Innova Wealth Partners bought a new position in shares of McDonald’s Co. (NYSE:MCD) during the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 834 shares of the fast-food giant’s stock, valued at approximately $242,000.

A number of other institutional investors have also recently modified their holdings of MCD. Legacy Investment Solutions LLC purchased a new stake in shares of McDonald’s during the third quarter worth about $25,000. RPg Family Wealth Advisory LLC acquired a new stake in McDonald’s in the 3rd quarter worth about $31,000. Hara Capital LLC purchased a new stake in McDonald’s during the 3rd quarter worth approximately $44,000. Peterson Financial Group Inc. acquired a new position in shares of McDonald’s during the third quarter valued at approximately $58,000. Finally, FSA Wealth Management LLC purchased a new position in shares of McDonald’s in the third quarter valued at approximately $72,000. 70.29% of the stock is currently owned by institutional investors and hedge funds.

McDonald’s Stock Performance

McDonald’s stock opened at $289.38 on Wednesday. The company has a market capitalization of $207.38 billion, a PE ratio of 25.41, a price-to-earnings-growth ratio of 3.95 and a beta of 0.73. McDonald’s Co. has a fifty-two week low of $243.53 and a fifty-two week high of $317.90. The firm has a 50 day moving average price of $294.40 and a 200 day moving average price of $285.90.

McDonald’s (NYSE:MCD) last issued its quarterly earnings data on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share for the quarter, beating analysts’ consensus estimates of $3.18 by $0.05. McDonald’s had a negative return on equity of 175.42% and a net margin of 31.79%. The business had revenue of $6.87 billion during the quarter, compared to analysts’ expectations of $6.82 billion. During the same period in the previous year, the firm posted $3.19 earnings per share. The company’s revenue was up 2.7% on a year-over-year basis. As a group, equities research analysts forecast that McDonald’s Co. will post 11.75 earnings per share for the current year.

Insiders Place Their Bets

In other McDonald’s news, EVP Desiree Ralls-Morrison sold 3,409 shares of the business’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $290.15, for a total value of $989,121.35. Following the completion of the transaction, the executive vice president now owns 9,675 shares in the company, valued at $2,807,201.25. The trade was a 26.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Marion K. Gross sold 1,499 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $290.95, for a total value of $436,134.05. Following the completion of the sale, the executive vice president now owns 1,560 shares in the company, valued at approximately $453,882. The trade was a 49.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 12,050 shares of company stock worth $3,556,688 over the last three months. Company insiders own 0.23% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on MCD. UBS Group boosted their price target on McDonald’s from $305.00 to $345.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Argus upgraded shares of McDonald’s from a “hold” rating to a “buy” rating in a research report on Tuesday, October 8th. KeyCorp boosted their price target on shares of McDonald’s from $305.00 to $330.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Baird R W downgraded shares of McDonald’s from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Finally, TD Cowen restated a “hold” rating and set a $300.00 target price on shares of McDonald’s in a report on Tuesday, October 29th. Eleven investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, McDonald’s presently has a consensus rating of “Moderate Buy” and a consensus price target of $320.65.

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.