McDonald’s Co. (NYSE:MCD) Shares Sold by Core Wealth Management Inc.

Core Wealth Management Inc. reduced its position in shares of McDonald’s Co. (NYSE:MCD) by 3.8% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 3,098 shares of the fast-food giant’s stock after selling 121 shares during the quarter. McDonald’s makes up 0.4% of Core Wealth Management Inc.’s investment portfolio, making the stock its 10th largest holding. Core Wealth Management Inc.’s holdings in McDonald’s were worth $898,000 at the end of the most recent quarter.

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

Insider Buying and Selling

In related news, EVP Marion K. Gross sold 1,499 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $290.95, for a total value of $436,134.05. Following the sale, the executive vice president now owns 1,560 shares of the company’s stock, valued at $453,882. The trade was a 49.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Joseph M. Erlinger sold 1,099 shares of the stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $291.10, for a total value of $319,918.90. Following the completion of the sale, the insider now directly owns 8,187 shares of the company’s stock, valued at approximately $2,383,235.70. The trade was a 11.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,406 shares of company stock worth $2,150,857 in the last three months. 0.23% of the stock is owned by corporate insiders.

McDonald’s Price Performance

Shares of NYSE:MCD opened at $290.19 on Friday. The company’s 50 day simple moving average is $291.11 and its 200 day simple moving average is $289.24. The stock has a market capitalization of $207.96 billion, a price-to-earnings ratio of 25.48, a price-to-earnings-growth ratio of 3.85 and a beta of 0.73. McDonald’s Co. has a 1 year low of $243.53 and a 1 year high of $317.90.

McDonald’s (NYSE:MCD) last issued its earnings results 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 firm had revenue of $6.87 billion during the quarter, compared to the consensus estimate of $6.82 billion. During the same quarter in the previous year, the firm earned $3.19 earnings per share. The business’s quarterly revenue was up 2.7% on a year-over-year basis. As a group, analysts anticipate that McDonald’s Co. will post 11.68 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on MCD. UBS Group lifted their price objective on McDonald’s from $305.00 to $345.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Argus upgraded McDonald’s from a “hold” rating to a “buy” rating in a research report on Tuesday, October 8th. Bank of America increased their price objective on McDonald’s from $321.00 to $324.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Wells Fargo & Company upped their target price on shares of McDonald’s from $285.00 to $350.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Finally, BMO Capital Markets lifted their price target on shares of McDonald’s from $315.00 to $335.00 and gave the company an “outperform” rating in a report 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 data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $320.87.

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.