Bar Harbor Wealth Management Sells 489 Shares of McDonald’s Co. (NYSE:MCD)

Bar Harbor Wealth Management reduced its stake in McDonald’s Co. (NYSE:MCD) by 2.8% during the fourth quarter, HoldingsChannel reports. The firm owned 17,031 shares of the fast-food giant’s stock after selling 489 shares during the period. Bar Harbor Wealth Management’s holdings in McDonald’s were worth $4,937,000 at the end of the most recent reporting period.

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

Insider Buying and Selling at McDonald’s

In related news, EVP Desiree Ralls-Morrison sold 3,409 shares of the company’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $290.15, for a total value of $989,121.35. Following the completion of the sale, the executive vice president now directly owns 9,675 shares of the company’s stock, valued at $2,807,201.25. This represents a 26.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Joseph M. Erlinger sold 1,099 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $292.38, for a total transaction of $321,325.62. Following the transaction, the insider now directly owns 10,385 shares in the company, valued at $3,036,366.30. This trade represents a 9.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 9,704 shares of company stock valued at $2,829,428 in the last three months. Company insiders own 0.23% of the company’s stock.

McDonald’s Price Performance

Shares of NYSE:MCD traded up $0.89 during trading hours on Monday, hitting $283.20. 1,951,626 shares of the company’s stock traded hands, compared to its average volume of 2,845,870. The firm has a market capitalization of $202.95 billion, a P/E ratio of 24.86, a price-to-earnings-growth ratio of 3.95 and a beta of 0.73. The business has a fifty day moving average price of $293.94 and a 200-day moving average price of $286.47. McDonald’s Co. has a 1 year low of $243.53 and a 1 year high of $317.90.

McDonald’s (NYSE:MCD) last released its earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share for the quarter, topping analysts’ consensus estimates of $3.18 by $0.05. The business had revenue of $6.87 billion for the quarter, compared to analyst estimates of $6.82 billion. McDonald’s had a negative return on equity of 175.42% and a net margin of 31.79%. The business’s revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the firm posted $3.19 earnings per share. As a group, equities analysts predict that McDonald’s Co. will post 11.75 earnings per share for the current year.

Analyst Ratings Changes

MCD has been the subject of a number of research reports. Evercore ISI increased their price target on shares of McDonald’s from $320.00 to $340.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 15th. Baird R W downgraded McDonald’s from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Truist Financial lowered their price target on McDonald’s from $350.00 to $342.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. JPMorgan Chase & Co. increased their price target on shares of McDonald’s from $270.00 to $290.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Finally, Morgan Stanley raised their target price on McDonald’s from $296.00 to $340.00 and gave the stock an “overweight” rating in a report on Tuesday, October 15th. Ten investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $321.39.

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.