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

New England Asset Management Inc. cut its stake in McDonald's Co. (NYSE:MCD - Free Report) by 11.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,032 shares of the fast-food giant's stock after selling 1,300 shares during the period. New England Asset Management Inc.'s holdings in McDonald's were worth $2,908,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Atala Financial Inc bought a new stake in McDonald's in the fourth quarter valued at approximately $26,000. Comprehensive Financial Planning Inc. PA bought a new stake in McDonald's in the fourth quarter valued at approximately $27,000. Collier Financial bought a new stake in McDonald's in the fourth quarter valued at approximately $29,000. Fairway Wealth LLC boosted its holdings in shares of McDonald's by 110.0% during the 4th quarter. Fairway Wealth LLC now owns 105 shares of the fast-food giant's stock worth $30,000 after buying an additional 55 shares in the last quarter. Finally, GKV Capital Management Co. Inc. bought a new position in shares of McDonald's during the 4th quarter worth approximately $30,000. 70.29% of the stock is currently owned by institutional investors.

Insider Transactions at McDonald's

In other news, EVP Tiffanie L. Boyd sold 1,000 shares of the stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $309.27, for a total transaction of $309,270.00. Following the completion of the transaction, the executive vice president now owns 5,564 shares in the company, valued at approximately $1,720,778.28. This represents a 15.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Joseph M. Erlinger sold 939 shares of the stock in a transaction on Wednesday, April 23rd. The stock was sold at an average price of $318.50, for a total value of $299,071.50. Following the transaction, the insider now owns 12,100 shares of the company's stock, valued at $3,853,850. The trade was a 7.20% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 17,636 shares of company stock worth $5,420,722. 0.25% of the stock is owned by company insiders.

McDonald's Price Performance

Shares of McDonald's stock opened at $311.97 on Tuesday. McDonald's Co. has a 1 year low of $243.53 and a 1 year high of $326.32. The firm has a market cap of $223.08 billion, a PE ratio of 27.39, a P/E/G ratio of 3.10 and a beta of 0.57. The stock has a fifty day moving average price of $310.18 and a 200-day moving average price of $300.25.

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

Analysts Set New Price Targets

MCD has been the topic of a number of research analyst reports. Citigroup increased their price target on McDonald's from $353.00 to $364.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. TD Securities restated a "hold" rating and set a $300.00 price target on shares of McDonald's in a report on Monday, February 10th. Wedbush increased their price target on McDonald's from $320.00 to $330.00 and gave the stock an "outperform" rating in a report on Tuesday, February 11th. Piper Sandler increased their price target on McDonald's from $292.00 to $314.00 and gave the stock a "neutral" rating in a report on Friday, May 2nd. Finally, Truist Financial set a $350.00 price target on McDonald's in a report on Friday, May 2nd. Eleven research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, McDonald's presently has a consensus rating of "Moderate Buy" and an average price target of $325.91.

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.

Want to see what other hedge funds are holding MCD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for McDonald's Co. (NYSE:MCD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.