Wendell David Associates Inc. Sells 1,040 Shares of McDonald’s Co. (NYSE:MCD)

Wendell David Associates Inc. lessened its holdings in shares of McDonald’s Co. (NYSE:MCD) by 1.4% during the 4th quarter, HoldingsChannel reports. The firm owned 75,715 shares of the fast-food giant’s stock after selling 1,040 shares during the period. McDonald’s comprises approximately 2.2% of Wendell David Associates Inc.’s holdings, making the stock its 13th largest holding. Wendell David Associates Inc.’s holdings in McDonald’s were worth $21,949,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Legacy Investment Solutions LLC acquired a new position in shares of McDonald’s during the third quarter worth about $25,000. RPg Family Wealth Advisory LLC acquired a new position in McDonald’s during the 3rd quarter worth approximately $31,000. Hara Capital LLC bought a new position in shares of McDonald’s during the 3rd quarter worth approximately $44,000. Peterson Financial Group Inc. bought a new position in shares of McDonald’s during the 3rd quarter worth approximately $58,000. Finally, FSA Wealth Management LLC acquired a new stake in shares of McDonald’s in the third quarter valued at approximately $72,000. 70.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at McDonald’s

In other McDonald’s news, EVP Marion K. Gross sold 1,499 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $294.51, for a total transaction of $441,470.49. Following the sale, the executive vice president now directly owns 1,560 shares of the company’s stock, valued at $459,435.60. The trade was a 49.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Joseph M. Erlinger sold 1,099 shares of the firm’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $291.10, for a total transaction of $319,918.90. Following the transaction, the insider now directly owns 8,187 shares of the company’s stock, valued at $2,383,235.70. The trade was a 11.84 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 8,605 shares of company stock worth $2,508,102. Insiders own 0.23% of the company’s stock.

McDonald’s Trading Down 0.5 %

MCD opened at $281.30 on Thursday. The company has a market cap of $201.58 billion, a P/E ratio of 24.70, a PEG ratio of 3.68 and a beta of 0.73. The company’s 50 day moving average is $291.81 and its 200-day moving average is $287.95. McDonald’s Co. has a 1-year low of $243.53 and a 1-year high of $317.90.

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

Wall Street Analyst Weigh In

A number of research firms have recently commented on MCD. Guggenheim downgraded shares of McDonald’s from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $290.00 to $285.00 in a research note on Wednesday, October 23rd. Barclays increased their price target on McDonald’s from $300.00 to $325.00 and gave the company an “overweight” rating in a research report on Tuesday, October 22nd. Argus raised McDonald’s from a “hold” rating to a “buy” rating in a research report on Tuesday, October 8th. Wedbush reissued an “outperform” rating and issued a $295.00 price objective on shares of McDonald’s in a report on Wednesday, October 23rd. Finally, KeyCorp boosted their target price on shares of McDonald’s from $305.00 to $330.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. 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, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $321.22.

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.