New England Asset Management Inc. Sells 1,300 Shares of McDonald’s Co. (NYSE:MCD)

New England Asset Management Inc. lowered its stake in McDonald’s Co. (NYSE:MCD) by 11.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,032 shares of the fast-food giant’s stock after selling 1,300 shares during the quarter. New England Asset Management Inc.’s holdings in McDonald’s were worth $2,908,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in MCD. Norges Bank purchased a new stake in shares of McDonald’s in the 4th quarter valued at about $2,725,190,000. Raymond James Financial Inc. purchased a new stake in shares of McDonald’s in the 4th quarter valued at about $703,074,000. Castlekeep Investment Advisors LLC purchased a new stake in shares of McDonald’s in the 4th quarter valued at about $350,935,000. Northern Trust Corp raised its holdings in shares of McDonald’s by 11.2% in the 4th quarter. Northern Trust Corp now owns 8,867,193 shares of the fast-food giant’s stock valued at $2,570,511,000 after acquiring an additional 895,896 shares in the last quarter. Finally, Franklin Resources Inc. raised its holdings in shares of McDonald’s by 24.4% in the 4th quarter. Franklin Resources Inc. now owns 4,054,387 shares of the fast-food giant’s stock valued at $1,175,326,000 after acquiring an additional 794,536 shares in the last quarter. Institutional investors own 70.29% of the company’s stock.

McDonald’s Price Performance

Shares of McDonald’s stock opened at $311.97 on Tuesday. The stock has a market capitalization of $223.08 billion, a P/E ratio of 27.39, a price-to-earnings-growth ratio of 3.10 and a beta of 0.57. McDonald’s Co. has a one year low of $243.53 and a one year high of $326.32. The business’s 50 day simple moving average is $310.18 and its two-hundred day simple moving average is $300.25.

McDonald’s (NYSE:MCD) last posted its earnings results on Thursday, May 1st. The fast-food giant reported $2.67 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.67. McDonald’s had a negative return on equity of 181.63% and a net margin of 31.73%. The firm had revenue of $5.96 billion for the quarter, compared to analysts’ expectations of $6.17 billion. During the same period in the previous year, the firm earned $2.70 earnings per share. The business’s revenue was down 3.5% compared to the same quarter last year. Sell-side analysts expect that McDonald’s Co. will post 12.25 earnings per share for the current fiscal year.

Insider Activity

In related news, CMO Edith Morgan Flatley sold 3,200 shares of McDonald’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $300.76, for a total transaction of $962,432.00. Following the sale, the chief marketing officer now directly owns 9,858 shares in the company, valued at $2,964,892.08. The trade was a 24.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Joseph M. Erlinger sold 939 shares of McDonald’s stock in a transaction that occurred on Wednesday, April 23rd. The shares were sold at an average price of $318.50, for a total value of $299,071.50. Following the sale, the insider now owns 12,100 shares in the company, valued at $3,853,850. This represents a 7.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 17,636 shares of company stock valued at $5,420,722. Company insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

MCD has been the topic of several recent analyst reports. Wedbush raised their price target on McDonald’s from $320.00 to $330.00 and gave the company an “outperform” rating in a report on Tuesday, February 11th. Truist Financial set a $350.00 price target on McDonald’s in a report on Friday, May 2nd. Morgan Stanley decreased their price objective on McDonald’s from $340.00 to $335.00 and set an “overweight” rating on the stock in a report on Monday, March 17th. BTIG Research reissued a “neutral” rating on shares of McDonald’s in a report on Tuesday, April 22nd. Finally, Barclays raised their price objective on McDonald’s from $347.00 to $355.00 and gave the company an “overweight” rating in a report on Friday, May 2nd. Eleven research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $325.91.

McDonald’s Company Profile

McDonald’s Corp. engages in the operation and franchising of restaurants. It operates through the following segments: U.S., International Operated Markets, and International Developmental Licensed Markets and Corporate. The U.S. segment focuses its operations on the United States. The International Operated Markets segment consists of operations and the franchising of restaurants in Australia, Canada, France, Germany, Italy, the Netherlands, Spain, and the U.K.