Verity Asset Management Inc. Cuts Stock Holdings in McDonald’s Co. (NYSE:MCD)

Verity Asset Management Inc. cut its stake in shares of McDonald’s Co. (NYSE:MCD) by 45.0% in the 4th quarter, Holdings Channel reports. The institutional investor owned 2,557 shares of the fast-food giant’s stock after selling 2,091 shares during the quarter. Verity Asset Management Inc.’s holdings in McDonald’s were worth $733,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in MCD. Legacy Investment Solutions LLC acquired a new stake in McDonald’s during the third quarter worth about $25,000. RPg Family Wealth Advisory LLC acquired a new position in shares of McDonald’s in the 3rd quarter valued at about $31,000. Hara Capital LLC purchased a new stake in shares of McDonald’s during the 3rd quarter worth about $44,000. Financial Life Planners acquired a new stake in McDonald’s during the 4th quarter worth approximately $49,000. Finally, Peterson Financial Group Inc. purchased a new position in McDonald’s in the third quarter valued at approximately $58,000. 70.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have issued reports on MCD. Wells Fargo & Company boosted their price objective on shares of McDonald’s from $285.00 to $350.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. Citigroup upped their price target on shares of McDonald’s from $334.00 to $336.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th. Morgan Stanley cut their price objective on McDonald’s from $340.00 to $336.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 21st. Loop Capital restated a “buy” rating and set a $342.00 price objective on shares of McDonald’s in a research note on Friday, January 3rd. Finally, Truist Financial lowered their target price 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 research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $320.87.

Insiders Place Their Bets

In other McDonald’s news, EVP Marion K. Gross sold 1,499 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $290.95, for a total value of $436,134.05. Following the sale, the executive vice president now directly owns 1,560 shares of the company’s stock, valued at $453,882. This trade represents a 49.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Joseph M. Erlinger sold 300 shares of the business’s stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $280.75, for a total transaction of $84,225.00. Following the transaction, the insider now directly owns 7,887 shares of the company’s stock, valued at approximately $2,214,275.25. This trade represents a 3.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,406 shares of company stock valued at $2,150,857 over the last quarter. Insiders own 0.23% of the company’s stock.

McDonald’s Stock Performance

NYSE MCD opened at $290.25 on Tuesday. McDonald’s Co. has a one year low of $243.53 and a one year high of $317.90. The company has a 50-day simple moving average of $291.12 and a 200-day simple moving average of $289.94. The firm has a market capitalization of $208.00 billion, a PE ratio of 25.48, a price-to-earnings-growth ratio of 3.83 and a beta of 0.74.

McDonald’s 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.