Jan. 27--Investment firm BlackRock has revealed a 6.5 percent stake in McDonald's, slightly lower than it had a year ago, according to a filing with the Securities and Exchange Commission late Tuesday.
New York-based BlackRock said it now owns nearly 60 million shares in the world's largest burger chain, which is based in Oak Brook. As of Dec. 31, 2014, they owned more than 67 million shares, or 6.9 percent. The SEC requires companies to declare their holdings of 5 percent or more.
McDonald's reported better-than-expected fourth-quarter earnings on Monday, and sales that far exceeded Wall Street's expectations, driving the stock to an all-time high of $121.90. But executives estimated it will take six more months for the U.S. business to fully recover sales and customer traffic it lost before its new CEO Steve Easterbrook came onboard in May of last year, indicating the stock has more room to grow.
Several Wall Street analysts hold "buy" ratings on the stock.
BlackRock has investments in dozens of large companies, from Macy's to Intercontinental Hotels to Glenview's Mead Johnson Nutrition. Earlier this week, it revealed an increased stake in Apple, going to 5.7 percent from 3.9 percent in the third quarter.
sbomkamp@tribpub.com
