Burgundy Asset Management Ltd. Grows Position in McDonald’s Co. (NYSE:MCD)

Burgundy Asset Management Ltd. increased its holdings in McDonald’s Co. (NYSE:MCD – Get Rating) by 11.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 49,563 shares of the fast-food giant’s stock after acquiring an additional 5,000 shares during the quarter. Burgundy Asset Management Ltd.’s holdings in McDonald’s were worth $13,286,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Norwood Financial Corp purchased a new stake in McDonald’s in the fourth quarter worth about $27,000. Delos Wealth Advisors LLC bought a new position in McDonald’s in the third quarter worth about $30,000. Future Financial Wealth Managment LLC bought a new position in McDonald’s in the fourth quarter worth about $33,000. Horan Securities Inc. bought a new position in McDonald’s in the fourth quarter worth about $45,000. Finally, Fortis Advisors LLC bought a new position in McDonald’s in the third quarter worth about $48,000. 68.44% of the stock is owned by institutional investors.

NYSE MCD traded up $0.85 during mid-day trading on Friday, reaching $245.04. 3,254,811 shares of the stock were exchanged, compared to its average volume of 2,617,787. The business’s 50 day moving average is $244.64 and its 200-day moving average is $251.72. McDonald’s Co. has a 1 year low of $217.68 and a 1 year high of $271.15. The company has a market capitalization of $181.22 billion, a P/E ratio of 25.88, a P/E/G ratio of 3.10 and a beta of 0.57.

McDonald’s (NYSE:MCD – Get Rating) last announced its quarterly earnings results on Thursday, April 28th. The fast-food giant reported $2.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.18 by $0.10. McDonald’s had a net margin of 29.93% and a negative return on equity of 131.20%. The firm had revenue of $5.67 billion for the quarter, compared to the consensus estimate of $5.57 billion. During the same period in the prior year, the firm posted $1.92 earnings per share. The firm’s quarterly revenue was up 10.6% compared to the same quarter last year. Equities analysts forecast that McDonald’s Co. will post 9.83 EPS for the current year.

A number of equities analysts have commented on MCD shares. Robert W. Baird boosted their target price on shares of McDonald’s from $268.00 to $293.00 in a report on Tuesday, January 25th. The Goldman Sachs Group boosted their target price on shares of McDonald’s from $284.00 to $287.00 in a report on Wednesday, January 19th. Wedbush reiterated an “outperform” rating on shares of McDonald’s in a report on Friday, January 28th. KeyCorp boosted their target price on shares of McDonald’s from $275.00 to $285.00 and gave the stock an “overweight” rating in a report on Wednesday, January 26th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on shares of McDonald’s from $268.00 to $265.00 in a report on Friday, April 29th. Seven research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $281.81.

In related news, Director Catherine M. Engelbert acquired 1,000 shares of the firm’s stock in a transaction on Monday, February 28th. The shares were acquired at an average cost of $244.18 per share, with a total value of $244,180.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Joseph M. Erlinger sold 5,892 shares of the stock in a transaction on Wednesday, May 4th. The shares were sold at an average price of $249.23, for a total transaction of $1,468,463.16. Following the transaction, the insider now directly owns 8,187 shares in the company, valued at $2,040,446.01. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company’s stock.

About McDonald’s (Get Rating)

McDonald's Corporation operates and franchises McDonald's restaurants in the United States and internationally. Its restaurants offer hamburgers and cheeseburgers, chicken sandwiches and nuggets, wraps, fries, salads, oatmeal, shakes, desserts, sundaes, soft serve cones, bakery items, soft drinks, coffee, and beverages and other beverages, as well as breakfast menu, including biscuit and bagel sandwiches, breakfast burritos, hotcakes, and other sandwiches.

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