Johnson & White Wealth Management LLC bought a new stake in McDonald’s Co. (NYSE:MCD – Free Report) during the 4th quarter, HoldingsChannel reports. The fund bought 2,292 shares of the fast-food giant’s stock, valued at approximately $670,000.
Other institutional investors have also recently made changes to their positions in the company. Legacy Investment Solutions LLC purchased a new stake in shares of McDonald’s during the third quarter valued at $25,000. RPg Family Wealth Advisory LLC bought a new position in McDonald’s in the 3rd quarter worth about $31,000. Hara Capital LLC purchased a new position in shares of McDonald’s during the third quarter worth approximately $44,000. Peterson Financial Group Inc. bought a new stake in shares of McDonald’s during the third quarter valued at approximately $58,000. Finally, FSA Wealth Management LLC bought a new stake in shares of McDonald’s during the third quarter valued at approximately $72,000. Institutional investors own 70.29% of the company’s stock.
McDonald’s Trading Up 0.3 %
MCD stock opened at $283.20 on Tuesday. The company’s 50 day moving average is $293.75 and its two-hundred day moving average is $286.65. McDonald’s Co. has a twelve month low of $243.53 and a twelve month high of $317.90. The stock has a market cap of $202.95 billion, a P/E ratio of 24.86, a PEG ratio of 3.95 and a beta of 0.73.
Analyst Upgrades and Downgrades
A number of equities research analysts have weighed in on the company. Truist Financial decreased their target price on McDonald’s from $350.00 to $342.00 and set a “buy” rating for the company in a research report on Wednesday, October 30th. Wedbush reissued an “outperform” rating and issued a $295.00 price target on shares of McDonald’s in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. lifted their target price on shares of McDonald’s from $270.00 to $290.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. KeyCorp upped their target price on McDonald’s from $305.00 to $330.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Finally, Morgan Stanley increased their price objective on McDonald’s from $296.00 to $340.00 and gave the company an “overweight” rating in a report on Tuesday, October 15th. Ten investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $321.39.
Read Our Latest Research Report on McDonald’s
Insider Activity at McDonald’s
In other news, insider Joseph M. Erlinger sold 1,099 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at $3,036,366.30. This represents a 9.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Marion K. Gross sold 1,499 shares of the company’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $294.51, for a total transaction of $441,470.49. Following the transaction, the executive vice president now owns 1,560 shares in the company, valued at $459,435.60. The trade was a 49.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 9,704 shares of company stock worth $2,829,428 over the last 90 days. Company insiders own 0.23% of the company’s stock.
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.
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