Sumitomo Life Insurance Co. Has $2.83 Million Stock Holdings in McDonald’s Co. (NYSE:MCD)

Sumitomo Life Insurance Co. trimmed its position in McDonald’s Co. (NYSE:MCD) by 11.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 9,766 shares of the fast-food giant’s stock after selling 1,277 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in McDonald’s were worth $2,831,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the company. Twelve Points Wealth Management LLC lifted its position in shares of McDonald’s by 23.1% in the fourth quarter. Twelve Points Wealth Management LLC now owns 3,549 shares of the fast-food giant’s stock valued at $1,029,000 after buying an additional 667 shares during the last quarter. Gateway Wealth Partners LLC raised its stake in McDonald’s by 17.4% in the 4th quarter. Gateway Wealth Partners LLC now owns 1,556 shares of the fast-food giant’s stock valued at $451,000 after acquiring an additional 231 shares during the period. Capital Investment Counsel LLC acquired a new stake in McDonald’s during the 4th quarter valued at $374,000. Mayflower Financial Advisors LLC boosted its position in McDonald’s by 9.6% during the fourth quarter. Mayflower Financial Advisors LLC now owns 4,989 shares of the fast-food giant’s stock worth $1,446,000 after purchasing an additional 436 shares during the period. Finally, Genesee Capital Advisors LLC increased its holdings in shares of McDonald’s by 6.6% in the fourth quarter. Genesee Capital Advisors LLC now owns 3,783 shares of the fast-food giant’s stock valued at $1,097,000 after purchasing an additional 234 shares during the last quarter. 70.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at McDonald’s

In related news, insider Joseph M. Erlinger sold 300 shares of the stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $280.75, for a total value of $84,225.00. Following the completion of the sale, the insider now directly owns 7,887 shares in the company, valued at $2,214,275.25. This represents a 3.66 % 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 Marion K. Gross sold 1,499 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $294.51, for a total value of $441,470.49. Following the completion of the sale, the executive vice president now owns 1,560 shares in the company, valued at $459,435.60. This trade represents a 49.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 8,905 shares of company stock worth $2,592,327. 0.23% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on MCD shares. Citigroup raised their target price on shares of McDonald’s from $334.00 to $336.00 and gave the stock a “buy” rating in a research note on Tuesday. BMO Capital Markets boosted their price objective on McDonald’s from $315.00 to $335.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Evercore ISI increased their target price on McDonald’s from $320.00 to $340.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 15th. Morgan Stanley reduced their price target on McDonald’s from $340.00 to $336.00 and set an “overweight” rating for the company in a research note on Tuesday, January 21st. Finally, Argus upgraded McDonald’s from a “hold” rating to a “buy” rating in a research report on Tuesday, October 8th. Ten equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $320.87.

McDonald’s Price Performance

MCD stock opened at $291.48 on Wednesday. The stock has a market cap of $208.88 billion, a price-to-earnings ratio of 25.59, a P/E/G ratio of 3.66 and a beta of 0.73. The company has a 50 day simple moving average of $291.11 and a 200 day simple moving average of $288.97. McDonald’s Co. has a 1 year low of $243.53 and a 1 year high of $317.90.

McDonald’s (NYSE:MCD) last announced its quarterly earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.18 by $0.05. The company had revenue of $6.87 billion during the quarter, compared to the consensus estimate of $6.82 billion. McDonald’s had a net margin of 31.79% and a negative return on equity of 175.42%. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the prior year, the business earned $3.19 earnings per share. On average, equities research analysts anticipate that McDonald’s Co. will post 11.72 EPS for the current fiscal year.

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.