Banyan Capital Management Inc. Invests $775,000 in McDonald’s Corporation $MCD

Banyan Capital Management Inc. purchased a new stake in McDonald’s Corporation (NYSE:MCD) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 2,549 shares of the fast-food giant’s stock, valued at approximately $775,000. McDonald’s accounts for approximately 0.4% of Banyan Capital Management Inc.’s holdings, making the stock its 20th largest holding.

Several other hedge funds have also recently added to or reduced their stakes in MCD. Federated Hermes Inc. increased its holdings in shares of McDonald’s by 84.1% in the 2nd quarter. Federated Hermes Inc. now owns 141,775 shares of the fast-food giant’s stock valued at $41,422,000 after acquiring an additional 64,757 shares during the last quarter. Global X Japan Co. Ltd. raised its holdings in shares of McDonald’s by 236.7% during the third quarter. Global X Japan Co. Ltd. now owns 6,502 shares of the fast-food giant’s stock worth $1,976,000 after purchasing an additional 4,571 shares during the period. Welch Group LLC lifted its holdings in McDonald’s by 1.1% in the second quarter. Welch Group LLC now owns 206,004 shares of the fast-food giant’s stock worth $60,188,000 after acquiring an additional 2,180 shares during the last quarter. D.A. Davidson & CO. lifted its holdings in McDonald’s by 2.7% in the third quarter. D.A. Davidson & CO. now owns 143,492 shares of the fast-food giant’s stock worth $43,606,000 after acquiring an additional 3,774 shares during the last quarter. Finally, Choreo LLC boosted its stake in McDonald’s by 1.7% in the second quarter. Choreo LLC now owns 58,515 shares of the fast-food giant’s stock valued at $17,096,000 after acquiring an additional 954 shares during the period. Institutional investors and hedge funds own 70.29% of the company’s stock.

McDonald’s Trading Up 0.8%

Shares of NYSE:MCD opened at $315.17 on Friday. The firm has a market cap of $224.44 billion, a price-to-earnings ratio of 26.89, a P/E/G ratio of 3.16 and a beta of 0.53. McDonald’s Corporation has a 1 year low of $283.47 and a 1 year high of $326.32. The business has a fifty day simple moving average of $309.64 and a 200 day simple moving average of $306.32.

McDonald’s (NYSE:MCD) last issued its quarterly earnings data on Wednesday, November 5th. The fast-food giant reported $3.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.11). McDonald’s had a negative return on equity of 280.89% and a net margin of 32.04%.The business had revenue of $7.08 billion during the quarter, compared to the consensus estimate of $7.10 billion. During the same quarter in the prior year, the company posted $3.23 earnings per share. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. On average, sell-side analysts forecast that McDonald’s Corporation will post 12.25 EPS for the current year.

Analysts Set New Price Targets

MCD has been the topic of a number of recent research reports. Truist Financial raised their target price on McDonald’s from $350.00 to $356.00 and gave the company a “buy” rating in a research note on Thursday, January 8th. Guggenheim raised their price target on shares of McDonald’s from $295.00 to $310.00 and gave the company a “neutral” rating in a research note on Wednesday, November 19th. Robert W. Baird lifted their target price on McDonald’s from $322.00 to $325.00 and gave the company a “neutral” rating in a research note on Thursday, November 6th. Oppenheimer raised McDonald’s from a “market perform” rating to an “outperform” rating and set a $355.00 price target for the company in a research note on Tuesday, January 6th. Finally, Morgan Stanley set a $335.00 price objective on shares of McDonald’s in a report on Friday, October 17th. Thirteen analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, McDonald’s presently has an average rating of “Hold” and an average target price of $328.88.

Insider Activity at McDonald’s

In other McDonald’s news, insider Joseph M. Erlinger sold 3,195 shares of the company’s stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $305.82, for a total value of $977,094.90. Following the completion of the transaction, the insider owned 6,088 shares of the company’s stock, valued at $1,861,832.16. This represents a 34.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Manuel Jm Steijaert sold 13,134 shares of the firm’s stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $300.42, for a total transaction of $3,945,716.28. Following the transaction, the executive vice president directly owned 4,606 shares of the company’s stock, valued at $1,383,734.52. The trade was a 74.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 45,142 shares of company stock worth $13,841,169 over the last ninety days. Corporate insiders own 0.25% of the company’s stock.

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.