Cresset Asset Management LLC Has $40.75 Million Stock Holdings in McDonald's Co. (NYSE:MCD)

Cresset Asset Management LLC reduced its position in McDonald's Co. (NYSE:MCD - Free Report) by 27.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 140,569 shares of the fast-food giant's stock after selling 52,962 shares during the quarter. Cresset Asset Management LLC's holdings in McDonald's were worth $40,750,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Boltwood Capital Management boosted its position in shares of McDonald's by 1.9% during the 4th quarter. Boltwood Capital Management now owns 1,882 shares of the fast-food giant's stock valued at $546,000 after acquiring an additional 35 shares during the last quarter. Pettee Investors Inc. grew its holdings in shares of McDonald's by 0.7% during the 4th quarter. Pettee Investors Inc. now owns 5,401 shares of the fast-food giant's stock worth $1,566,000 after purchasing an additional 35 shares during the period. Covestor Ltd boosted its stake in McDonald's by 4.1% during the fourth quarter. Covestor Ltd now owns 899 shares of the fast-food giant's stock worth $261,000 after buying an additional 35 shares during the period. Independent Wealth Network Inc. raised its stake in shares of McDonald's by 5.1% in the 4th quarter. Independent Wealth Network Inc. now owns 736 shares of the fast-food giant's stock valued at $213,000 after acquiring an additional 36 shares during the period. Finally, Blue Barn Wealth LLC lifted its holdings in shares of McDonald's by 4.3% in the 4th quarter. Blue Barn Wealth LLC now owns 871 shares of the fast-food giant's stock worth $252,000 after acquiring an additional 36 shares during the last quarter. 70.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on MCD shares. BMO Capital Markets reaffirmed an "outperform" rating and set a $345.00 target price (up from $340.00) on shares of McDonald's in a research note on Monday. Citigroup boosted their price objective on shares of McDonald's from $353.00 to $364.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. JPMorgan Chase & Co. lifted their price target on shares of McDonald's from $280.00 to $300.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 11th. Bank of America raised their price objective on McDonald's from $312.00 to $316.00 and gave the stock a "neutral" rating in a report on Tuesday, February 11th. Finally, Wedbush upped their target price on McDonald's from $320.00 to $330.00 and gave the company an "outperform" rating in a research report on Tuesday, February 11th. Eleven equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $325.91.

McDonald's Stock Down 0.3 %

MCD stock traded down $0.98 during trading on Friday, hitting $312.51. 97,708 shares of the company's stock traded hands, compared to its average volume of 3,553,639. The stock has a market capitalization of $223.47 billion, a price-to-earnings ratio of 27.44, a price-to-earnings-growth ratio of 3.10 and a beta of 0.57. McDonald's Co. has a 52 week low of $243.53 and a 52 week high of $326.32. The stock has a fifty day moving average price of $309.93 and a two-hundred day moving average price of $300.12.

McDonald's (NYSE:MCD - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The fast-food giant reported $2.67 earnings per share for the quarter, meeting the consensus estimate of $2.67. McDonald's had a net margin of 31.73% and a negative return on equity of 181.63%. The company had revenue of $5.96 billion during the quarter, compared to analyst estimates of $6.17 billion. During the same quarter last year, the firm posted $2.70 EPS. The business's revenue for the quarter was down 3.5% on a year-over-year basis. As a group, equities research analysts expect that McDonald's Co. will post 12.25 EPS for the current fiscal year.

Insider Buying and Selling at McDonald's

In other McDonald's news, insider Joseph M. Erlinger sold 939 shares of the firm's stock in a transaction dated Wednesday, April 23rd. The stock was sold at an average price of $318.50, for a total transaction of $299,071.50. Following the completion of the sale, the insider now directly owns 12,100 shares in the company, valued at approximately $3,853,850. This trade represents a 7.20 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Christopher J. Kempczinski sold 10,500 shares of the stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $310.05, for a total transaction of $3,255,525.00. Following the completion of the sale, the chief executive officer now directly owns 32,756 shares of the company's stock, valued at $10,155,997.80. This trade represents a 24.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 28,136 shares of company stock valued at $8,676,247. Corporate insiders own 0.25% of the company's stock.

About McDonald's

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.