Crossmark Global Holdings Inc. Cuts Stock Position in McDonald’s Co. (NYSE:MCD)

Crossmark Global Holdings Inc. decreased its stake in shares of McDonald’s Co. (NYSE:MCD) by 4.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 105,808 shares of the fast-food giant’s stock after selling 4,830 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in McDonald’s were worth $30,673,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in MCD. Kennebec Savings Bank bought a new position in McDonald’s in the 3rd quarter valued at approximately $1,394,000. Charles Schwab Investment Management Inc. boosted its position in shares of McDonald’s by 0.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 5,564,359 shares of the fast-food giant’s stock valued at $1,694,403,000 after buying an additional 49,106 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in McDonald’s by 58.9% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 138,102 shares of the fast-food giant’s stock worth $35,194,000 after buying an additional 51,210 shares in the last quarter. U.S. Capital Wealth Advisors LLC raised its position in McDonald’s by 6.5% in the 3rd quarter. U.S. Capital Wealth Advisors LLC now owns 49,186 shares of the fast-food giant’s stock worth $14,978,000 after buying an additional 2,997 shares during the last quarter. Finally, Weiss Asset Management LP purchased a new stake in shares of McDonald’s during the 3rd quarter valued at about $16,870,000. 70.29% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Wedbush restated an “outperform” rating and set a $295.00 price objective on shares of McDonald’s in a research report on Wednesday, October 23rd. The Goldman Sachs Group increased their price objective on shares of McDonald’s from $284.00 to $325.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 24th. UBS Group increased their price target on McDonald’s from $305.00 to $345.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Truist Financial decreased their price objective 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. Finally, Bank of America lifted their price target on shares of McDonald’s from $321.00 to $324.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Ten equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $321.39.

Insider Activity

In other news, insider Joseph M. Erlinger sold 1,099 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $292.50, for a total transaction of $321,457.50. Following the sale, the insider now owns 9,286 shares of the company’s stock, valued at $2,716,155. The trade was a 10.58 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Marion K. Gross sold 1,499 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $294.51, for a total value of $441,470.49. Following the completion of the sale, the executive vice president now directly owns 1,560 shares in the company, valued at $459,435.60. This trade represents a 49.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 9,704 shares of company stock valued at $2,829,428. Company insiders own 0.23% of the company’s stock.

McDonald’s Stock Performance

MCD opened at $280.90 on Tuesday. McDonald’s Co. has a one year low of $243.53 and a one year high of $317.90. The company has a market cap of $201.30 billion, a P/E ratio of 24.66, a PEG ratio of 3.65 and a beta of 0.73. The business’s 50-day simple moving average is $292.54 and its 200-day simple moving average is $287.50.

McDonald’s (NYSE:MCD) last announced its earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 EPS for the quarter, beating analysts’ consensus estimates of $3.18 by $0.05. The business had revenue of $6.87 billion during the quarter, compared to analysts’ expectations of $6.82 billion. McDonald’s had a net margin of 31.79% and a negative return on equity of 175.42%. The business’s revenue was up 2.7% compared to the same quarter last year. During the same period in the prior year, the company earned $3.19 earnings per share. As a group, analysts predict that McDonald’s Co. will post 11.73 earnings per share for the current fiscal year.

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.