Resonant Capital Advisors LLC Sells 144 Shares of McDonald’s Co. (NYSE:MCD)

Resonant Capital Advisors LLC reduced its stake in shares of McDonald’s Co. (NYSE:MCD) by 1.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,589 shares of the fast-food giant’s stock after selling 144 shares during the quarter. Resonant Capital Advisors LLC’s holdings in McDonald’s were worth $3,360,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Legacy Investment Solutions LLC bought a new position in McDonald’s in the third quarter valued at approximately $25,000. RPg Family Wealth Advisory LLC bought a new position in McDonald’s in the third quarter valued at approximately $31,000. Hara Capital LLC bought a new position in McDonald’s in the third quarter valued at approximately $44,000. Peterson Financial Group Inc. bought a new position in McDonald’s in the third quarter valued at approximately $58,000. Finally, FSA Wealth Management LLC acquired a new stake in McDonald’s in the third quarter worth $72,000. 70.29% of the stock is owned by institutional investors.

Analyst Ratings Changes

MCD has been the topic of several analyst reports. Wedbush reiterated an “outperform” rating and issued a $295.00 target price on shares of McDonald’s in a report on Wednesday, October 23rd. BMO Capital Markets increased their target price on shares of McDonald’s from $315.00 to $335.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Truist Financial cut their target price on shares of McDonald’s from $350.00 to $342.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Morgan Stanley cut their target price on shares of McDonald’s from $340.00 to $336.00 and set an “overweight” rating on the stock in a report on Tuesday, January 21st. Finally, Barclays increased their target price on shares of McDonald’s from $300.00 to $325.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. Ten research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat, McDonald’s presently has a consensus rating of “Moderate Buy” and an average price target of $320.87.

McDonald’s Stock Performance

Shares of MCD stock opened at $288.83 on Monday. The company has a market capitalization of $206.98 billion, a price-to-earnings ratio of 25.36, a PEG ratio of 3.83 and a beta of 0.74. The company has a 50-day simple moving average of $291.12 and a 200 day simple moving average of $289.94. McDonald’s Co. has a 52 week low of $243.53 and a 52 week high of $317.90.

Insider Buying and Selling

In other McDonald’s news, insider Joseph M. Erlinger sold 1,099 shares of McDonald’s stock in a transaction dated 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 sale, the insider now owns 9,286 shares in the company, valued at $2,716,155. The trade was a 10.58 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Desiree Ralls-Morrison sold 3,409 shares of the business’s stock in a transaction that occurred 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 $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 90 days, insiders sold 7,406 shares of company stock valued at $2,150,857. Company insiders own 0.23% of the company’s stock.

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.