Corbenic Partners LLC Takes $13.59 Million Position in Mcdonald’s Corp (NYSE:MCD)

Corbenic Partners LLC bought a new position in Mcdonald’s Corp (NYSE:MCD) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 68,785 shares of the fast-food giant’s stock, valued at approximately $13,593,000. Mcdonald’s comprises about 9.9% of Corbenic Partners LLC’s investment portfolio, making the stock its 3rd biggest position.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Massmutual Trust Co. FSB ADV raised its stake in Mcdonald’s by 1.3% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 70,802 shares of the fast-food giant’s stock worth $14,703,000 after buying an additional 892 shares during the period. EP Wealth Advisors LLC grew its position in Mcdonald’s by 10.4% during the third quarter. EP Wealth Advisors LLC now owns 8,500 shares of the fast-food giant’s stock valued at $1,825,000 after buying an additional 801 shares during the period. Ropes Wealth Advisors LLC grew its position in Mcdonald’s by 9.9% during the third quarter. Ropes Wealth Advisors LLC now owns 24,962 shares of the fast-food giant’s stock valued at $5,360,000 after buying an additional 2,247 shares during the period. Stillwater Investment Management LLC grew its position in Mcdonald’s by 0.6% during the fourth quarter. Stillwater Investment Management LLC now owns 18,280 shares of the fast-food giant’s stock valued at $3,612,000 after buying an additional 114 shares during the period. Finally, Atalanta Sosnoff Capital LLC grew its position in Mcdonald’s by 40.4% during the third quarter. Atalanta Sosnoff Capital LLC now owns 233,145 shares of the fast-food giant’s stock valued at $50,058,000 after buying an additional 67,094 shares during the period. 67.23% of the stock is currently owned by institutional investors.

NYSE MCD traded up $0.66 during mid-day trading on Tuesday, hitting $207.17. The company’s stock had a trading volume of 753,525 shares, compared to its average volume of 3,090,839. Mcdonald’s Corp has a 52-week low of $173.41 and a 52-week high of $221.93. The stock’s fifty day simple moving average is $197.94 and its two-hundred day simple moving average is $206.32. The firm has a market capitalization of $156.09 billion, a P/E ratio of 26.22, a price-to-earnings-growth ratio of 2.90 and a beta of 0.45.

Mcdonald’s (NYSE:MCD) last posted its quarterly earnings results on Tuesday, October 22nd. The fast-food giant reported $2.11 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.21 by ($0.10). Mcdonald’s had a net margin of 28.09% and a negative return on equity of 85.71%. The business had revenue of $5.43 billion during the quarter, compared to analysts’ expectations of $5.47 billion. During the same quarter in the previous year, the business posted $2.10 EPS. The company’s quarterly revenue was up 1.1% on a year-over-year basis. As a group, research analysts anticipate that Mcdonald’s Corp will post 7.84 earnings per share for the current year.

Several analysts recently commented on the stock. Morgan Stanley raised their price target on shares of Mcdonald’s from $214.00 to $230.00 and gave the company an “overweight” rating in a research report on Thursday, December 19th. Robert W. Baird decreased their target price on shares of Mcdonald’s from $230.00 to $225.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 22nd. MKM Partners decreased their target price on shares of Mcdonald’s from $240.00 to $225.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Credit Suisse Group decreased their target price on shares of Mcdonald’s from $236.00 to $230.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Finally, UBS Group decreased their target price on shares of Mcdonald’s from $218.00 to $212.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 23rd. Eight research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $223.54.

In other Mcdonald’s news, Director John W. Rogers, Jr. purchased 1,000 shares of the business’s stock in a transaction dated Thursday, November 14th. The stock was bought at an average cost of $194.12 per share, for a total transaction of $194,120.00. Following the completion of the acquisition, the director now directly owns 88,500 shares in the company, valued at $17,179,620. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director John J. Mulligan bought 1,300 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was purchased at an average price of $193.46 per share, with a total value of $251,498.00. Following the completion of the purchase, the director now directly owns 2,900 shares of the company’s stock, valued at approximately $561,034. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 7,380 shares of company stock valued at $1,430,223. Corporate insiders own 0.25% of the company’s stock.

Mcdonald’s Company Profile

McDonald's Corporation operates and franchises McDonald's restaurants in the United States and internationally. Its restaurants offer various food products, soft drinks, coffee, and other beverages, as well as breakfast menu. As of December 31, 2018, the company operated 37,855 restaurants, including 35,085 franchised restaurants comprising 21,685 franchised to conventional franchisees, 7,225 licensed to developmental licensees, and 6,175 licensed to foreign affiliates; and 2,770 company-operated restaurants.

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Institutional Ownership by Quarter for Mcdonald`s (NYSE:MCD)

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