Atticus Wealth Management LLC Trims Stock Holdings in McDonald’s Co. (NYSE:MCD)

Atticus Wealth Management LLC decreased its position in McDonald’s Co. (NYSE:MCD) by 19.9% during the fourth quarter, HoldingsChannel.com reports. The firm owned 2,375 shares of the fast-food giant’s stock after selling 589 shares during the quarter. Atticus Wealth Management LLC’s holdings in McDonald’s were worth $689,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of MCD. Steigerwald Gordon & Koch Inc. grew its holdings in McDonald’s by 2.4% during the third quarter. Steigerwald Gordon & Koch Inc. now owns 1,422 shares of the fast-food giant’s stock worth $433,000 after acquiring an additional 33 shares during the period. Riversedge Advisors LLC lifted its holdings in shares of McDonald’s by 2.0% in the third quarter. Riversedge Advisors LLC now owns 1,686 shares of the fast-food giant’s stock valued at $513,000 after purchasing an additional 33 shares in the last quarter. Proquility Private Wealth Partners LLC boosted its position in McDonald’s by 1.0% during the 3rd quarter. Proquility Private Wealth Partners LLC now owns 3,472 shares of the fast-food giant’s stock worth $1,057,000 after acquiring an additional 35 shares during the period. Clear Creek Financial Management LLC grew its position in McDonald’s by 2.8% during the third quarter. Clear Creek Financial Management LLC now owns 1,300 shares of the fast-food giant’s stock valued at $396,000 after purchasing an additional 35 shares in the last quarter. Finally, GDS Wealth Management raised its holdings in shares of McDonald’s by 1.4% during the third quarter. GDS Wealth Management now owns 2,504 shares of the fast-food giant’s stock worth $762,000 after acquiring an additional 35 shares in the last quarter. 70.29% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have commented on MCD. BMO Capital Markets boosted their target price on shares of McDonald’s from $315.00 to $335.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Argus raised McDonald’s from a “hold” rating to a “buy” rating in a research report on Tuesday, October 8th. 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 note on Tuesday, January 21st. Wedbush reissued an “outperform” rating and set a $295.00 target price on shares of McDonald’s in a research report on Wednesday, October 23rd. Finally, Truist Financial decreased their target price on McDonald’s from $350.00 to $342.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. Ten research 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 has a consensus rating of “Moderate Buy” and an average price target of $320.78.

McDonald’s Stock Performance

Shares of NYSE:MCD opened at $285.37 on Monday. The company has a 50 day moving average price of $291.07 and a two-hundred day moving average price of $288.43. The company has a market capitalization of $204.50 billion, a PE ratio of 25.05, a PEG ratio of 3.66 and a beta of 0.73. McDonald’s Co. has a 52 week low of $243.53 and a 52 week high of $317.90.

McDonald’s (NYSE:MCD) last issued 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. McDonald’s had a negative return on equity of 175.42% and a net margin of 31.79%. The business had revenue of $6.87 billion for the quarter, compared to the consensus estimate of $6.82 billion. During the same quarter last year, the business posted $3.19 EPS. The firm’s revenue was up 2.7% compared to the same quarter last year. On average, sell-side analysts forecast that McDonald’s Co. will post 11.72 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Desiree Ralls-Morrison sold 3,409 shares of the stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $290.15, for a total transaction of $989,121.35. Following the sale, the executive vice president now 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Joseph M. Erlinger sold 300 shares of the stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $280.75, for a total value of $84,225.00. Following the sale, the insider now directly owns 7,887 shares in the company, valued at approximately $2,214,275.25. This trade represents a 3.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 8,905 shares of company stock worth $2,592,327. 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.