Chesley Taft & Associates LLC Sells 70 Shares of McDonald’s Co. (NYSE:MCD)

Chesley Taft & Associates LLC cut its holdings in McDonald’s Co. (NYSE:MCD) by 0.2% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 28,916 shares of the fast-food giant’s stock after selling 70 shares during the quarter. Chesley Taft & Associates LLC’s holdings in McDonald’s were worth $8,382,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Kennebec Savings Bank acquired a new stake in McDonald’s during the 3rd quarter valued at approximately $1,394,000. Charles Schwab Investment Management Inc. lifted its holdings in McDonald’s by 0.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,564,359 shares of the fast-food giant’s stock valued at $1,694,403,000 after acquiring an additional 49,106 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in McDonald’s by 58.9% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 138,102 shares of the fast-food giant’s stock worth $35,194,000 after purchasing an additional 51,210 shares in the last quarter. U.S. Capital Wealth Advisors LLC increased its holdings in shares of McDonald’s by 6.5% during the 3rd quarter. U.S. Capital Wealth Advisors LLC now owns 49,186 shares of the fast-food giant’s stock valued at $14,978,000 after purchasing an additional 2,997 shares in the last quarter. Finally, Weiss Asset Management LP purchased a new position in shares of McDonald’s during the 3rd quarter valued at approximately $16,870,000. Hedge funds and other institutional investors own 70.29% of the company’s stock.

McDonald’s Stock Performance

Shares of McDonald’s stock opened at $280.90 on Tuesday. The business has a 50-day simple moving average of $292.12 and a 200-day simple moving average of $287.72. McDonald’s Co. has a one year low of $243.53 and a one year high of $317.90. The company has a market cap of $201.30 billion, a PE ratio of 24.66, a P/E/G ratio of 3.65 and a beta of 0.73.

McDonald’s (NYSE:MCD) last posted its quarterly earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 EPS for the quarter, topping 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 company had revenue of $6.87 billion during the quarter, compared to analysts’ expectations of $6.82 billion. During the same quarter in the previous year, the business posted $3.19 EPS. The firm’s revenue was up 2.7% on a year-over-year basis. On average, sell-side analysts predict that McDonald’s Co. will post 11.73 earnings per share for the current fiscal year.

Insider Buying and Selling

In other McDonald’s news, EVP Marion K. Gross sold 1,499 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $290.95, for a total transaction of $436,134.05. Following the sale, the executive vice president now owns 1,560 shares of the company’s stock, valued at approximately $453,882. This trade represents a 49.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Desiree Ralls-Morrison sold 3,409 shares of the company’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $290.15, for a total transaction of $989,121.35. Following the completion of the transaction, the executive vice president now owns 9,675 shares of the company’s stock, valued at approximately $2,807,201.25. The trade was a 26.05 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 9,704 shares of company stock worth $2,829,428. Corporate insiders own 0.23% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Guggenheim lowered shares of McDonald’s from a “buy” rating to a “neutral” rating and dropped their price target for the company from $290.00 to $285.00 in a research report on Wednesday, October 23rd. 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. The Goldman Sachs Group increased their price target on McDonald’s from $284.00 to $325.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 24th. Barclays boosted their price objective on McDonald’s from $300.00 to $325.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 22nd. Finally, Evercore ISI boosted their price target on shares of McDonald’s from $320.00 to $340.00 and gave the company an “outperform” rating in a research report on Tuesday, October 15th. Ten equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat.com, McDonald’s currently has an average rating of “Moderate Buy” and a consensus target price of $321.22.

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.