Wesbanco Bank Inc. Sells 705 Shares of McDonald’s Co. (NYSE:MCD)

Wesbanco Bank Inc. decreased its holdings in McDonald’s Co. (NYSE:MCD) by 2.1% during the 4th quarter, HoldingsChannel.com reports. The firm owned 32,316 shares of the fast-food giant’s stock after selling 705 shares during the period. Wesbanco Bank Inc.’s holdings in McDonald’s were worth $9,368,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of MCD. Legacy Investment Solutions LLC bought a new stake in McDonald’s during the third quarter valued at $25,000. RPg Family Wealth Advisory LLC bought a new stake in McDonald’s during the third quarter valued at $31,000. Hara Capital LLC bought a new stake in McDonald’s during the third quarter valued at $44,000. Peterson Financial Group Inc. bought a new stake in McDonald’s during the third quarter valued at $58,000. Finally, FSA Wealth Management LLC bought a new stake in McDonald’s during the third quarter valued at $72,000. Institutional investors own 70.29% of the company’s stock.

McDonald’s Trading Down 0.5 %

MCD opened at $281.30 on Thursday. The company has a 50 day moving average of $291.81 and a 200 day moving average of $287.95. The company has a market cap of $201.58 billion, a PE ratio of 24.70, a price-to-earnings-growth ratio of 3.68 and a beta of 0.73. McDonald’s Co. has a 12 month low of $243.53 and a 12 month high of $317.90.

McDonald’s (NYSE:MCD) last released its quarterly earnings data 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. The company had revenue of $6.87 billion during the quarter, compared to the consensus estimate of $6.82 billion. McDonald’s had a net margin of 31.79% and a negative return on equity of 175.42%. McDonald’s’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period last year, the firm earned $3.19 EPS. Research analysts forecast that McDonald’s Co. will post 11.73 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have commented on MCD. Robert W. Baird cut shares of McDonald’s from an “outperform” rating to a “neutral” rating and cut their price target for the company from $320.00 to $290.00 in a research report on Wednesday, October 23rd. Truist Financial cut their price target on shares of McDonald’s from $350.00 to $342.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. Evercore ISI upped their price objective on shares of McDonald’s from $320.00 to $340.00 and gave the company an “outperform” rating in a report on Tuesday, October 15th. Barclays upped their price objective on shares of McDonald’s from $300.00 to $325.00 and gave the company an “overweight” rating in a report on Tuesday, October 22nd. Finally, UBS Group upped their price objective on shares of McDonald’s from $305.00 to $345.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Ten analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $321.22.

Insider Buying and Selling

In other McDonald’s news, insider Joseph M. Erlinger sold 1,099 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $292.50, for a total value of $321,457.50. Following the completion of the transaction, the insider now directly owns 9,286 shares of the company’s stock, valued at $2,716,155. This trade represents a 10.58 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Desiree Ralls-Morrison sold 3,409 shares of the firm’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 directly 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 8,605 shares of company stock valued at $2,508,102. Company insiders own 0.23% of the company’s stock.

About McDonald’s

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.