McDonald’s Co. (NYSE:MCD) Shares Sold by Cranbrook Wealth Management LLC

Cranbrook Wealth Management LLC trimmed its position in shares of McDonald’s Co. (NYSE:MCD) by 15.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,195 shares of the fast-food giant’s stock after selling 221 shares during the period. Cranbrook Wealth Management LLC’s holdings in McDonald’s were worth $346,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC acquired a new stake in shares of McDonald’s during the third quarter worth about $25,000. RPg Family Wealth Advisory LLC purchased a new position in McDonald’s during the 3rd quarter worth approximately $31,000. Hara Capital LLC acquired a new position in McDonald’s during the third quarter worth approximately $44,000. Peterson Financial Group Inc. purchased a new stake in McDonald’s in the third quarter valued at approximately $58,000. Finally, FSA Wealth Management LLC acquired a new stake in shares of McDonald’s in the third quarter valued at approximately $72,000. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on MCD. Argus raised shares of McDonald’s from a “hold” rating to a “buy” rating in a research report on Tuesday, October 8th. UBS Group boosted their price target on McDonald’s from $305.00 to $345.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Citigroup raised McDonald’s from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $311.00 to $334.00 in a research report on Friday, January 10th. Evercore ISI boosted their target price on McDonald’s from $320.00 to $340.00 and gave the company an “outperform” rating in a report on Tuesday, October 15th. Finally, Truist Financial cut their price target on McDonald’s from $350.00 to $342.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. Ten equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $321.39.

McDonald’s Stock Up 0.4 %

McDonald’s stock opened at $280.90 on Friday. The firm’s 50-day simple moving average is $292.90 and its 200 day simple moving average is $286.75. McDonald’s Co. has a 52 week low of $243.53 and a 52 week high of $317.90. The firm has a market capitalization of $201.30 billion, a PE ratio of 24.66, a P/E/G ratio of 3.67 and a beta of 0.73.

McDonald’s (NYSE:MCD) last released its quarterly earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 EPS for the quarter, beating the consensus estimate of $3.18 by $0.05. McDonald’s had a net margin of 31.79% and a negative return on equity of 175.42%. The business had revenue of $6.87 billion for the quarter, compared to analyst estimates of $6.82 billion. During the same period in the prior year, the business earned $3.19 earnings per share. The company’s quarterly revenue was up 2.7% on a year-over-year basis. On average, research analysts expect that McDonald’s Co. will post 11.73 EPS for the current fiscal year.

Insider Buying and Selling at McDonald’s

In related news, EVP Marion K. Gross sold 1,499 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $294.51, for a total transaction of $441,470.49. Following the sale, the executive vice president now owns 1,560 shares in the company, valued at approximately $459,435.60. This trade represents a 49.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Joseph M. Erlinger sold 1,099 shares of the business’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $292.38, for a total value of $321,325.62. Following the completion of the transaction, the insider now owns 10,385 shares of the company’s stock, valued at $3,036,366.30. This trade represents a 9.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 9,704 shares of company stock worth $2,829,428. 0.23% of the stock is owned by insiders.

McDonald’s Company Profile

McDonald's Corporation operates and franchises restaurants under the McDonald's brand in the United States and internationally. It offers food and beverages, including hamburgers and cheeseburgers, various chicken sandwiches, fries, shakes, desserts, sundaes, cookies, pies, soft drinks, coffee, and other beverages; and full or limited breakfast, as well as sells various other products during limited-time promotions.