McDonald’s Corporation $MCD Shares Sold by OneAscent Financial Services LLC

OneAscent Financial Services LLC lowered its holdings in McDonald’s Corporation (NYSE:MCDFree Report) by 47.9% in the 3rd quarter, Holdings Channel.com reports. The fund owned 2,047 shares of the fast-food giant’s stock after selling 1,883 shares during the quarter. OneAscent Financial Services LLC’s holdings in McDonald’s were worth $622,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. WealthShield Partners LLC lifted its holdings in shares of McDonald’s by 66.7% during the 3rd quarter. WealthShield Partners LLC now owns 16,029 shares of the fast-food giant’s stock valued at $4,871,000 after acquiring an additional 6,413 shares in the last quarter. Lorne Steinberg Wealth Management Inc. raised its position in McDonald’s by 665.9% in the third quarter. Lorne Steinberg Wealth Management Inc. now owns 9,551 shares of the fast-food giant’s stock valued at $2,902,000 after purchasing an additional 8,304 shares during the period. Exchange Bank lifted its stake in shares of McDonald’s by 17.6% during the third quarter. Exchange Bank now owns 2,611 shares of the fast-food giant’s stock worth $793,000 after purchasing an additional 390 shares in the last quarter. Commerzbank Aktiengesellschaft FI boosted its position in shares of McDonald’s by 2.5% in the third quarter. Commerzbank Aktiengesellschaft FI now owns 373,483 shares of the fast-food giant’s stock worth $113,498,000 after buying an additional 8,999 shares during the period. Finally, BLB&B Advisors LLC boosted its position in shares of McDonald’s by 1.0% in the third quarter. BLB&B Advisors LLC now owns 39,488 shares of the fast-food giant’s stock worth $12,000,000 after buying an additional 406 shares during the period. Hedge funds and other institutional investors own 70.29% of the company’s stock.

McDonald’s Stock Performance

Shares of MCD stock opened at $312.75 on Tuesday. McDonald’s Corporation has a one year low of $283.47 and a one year high of $326.32. The company’s 50-day simple moving average is $309.03 and its 200-day simple moving average is $306.12. The stock has a market capitalization of $222.72 billion, a price-to-earnings ratio of 26.68, a PEG ratio of 3.07 and a beta of 0.53.

McDonald’s (NYSE:MCDGet Free Report) last posted its quarterly earnings results on Wednesday, November 5th. The fast-food giant reported $3.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.11). McDonald’s had a negative return on equity of 280.89% and a net margin of 32.04%.The business had revenue of $7.08 billion during the quarter, compared to the consensus estimate of $7.10 billion. During the same quarter in the previous year, the business posted $3.23 earnings per share. The company’s quarterly revenue was up 3.0% compared to the same quarter last year. As a group, research analysts forecast that McDonald’s Corporation will post 12.25 EPS for the current year.

Insider Buying and Selling

In other McDonald’s news, EVP Manuel Jm Steijaert sold 13,134 shares of McDonald’s stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $300.42, for a total value of $3,945,716.28. Following the completion of the transaction, the executive vice president directly owned 4,606 shares in the company, valued at $1,383,734.52. The trade was a 74.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Joseph M. Erlinger sold 3,195 shares of the stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $305.82, for a total value of $977,094.90. Following the sale, the insider owned 6,088 shares in the company, valued at $1,861,832.16. The trade was a 34.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 45,142 shares of company stock valued at $13,841,169. 0.25% of the stock is currently owned by insiders.

McDonald’s News Roundup

Here are the key news stories impacting McDonald’s this week:

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on MCD shares. KeyCorp boosted their price target on McDonald’s from $335.00 to $340.00 and gave the stock an “overweight” rating in a research report on Friday, January 9th. Truist Financial lifted their price objective on shares of McDonald’s from $350.00 to $356.00 and gave the company a “buy” rating in a research note on Thursday, January 8th. Wells Fargo & Company upped their target price on shares of McDonald’s from $340.00 to $345.00 and gave the company an “overweight” rating in a research note on Thursday, November 6th. Sanford C. Bernstein reaffirmed an “overweight” rating and set a $372.00 price target on shares of McDonald’s in a report on Wednesday, January 7th. Finally, Guggenheim boosted their price objective on shares of McDonald’s from $295.00 to $310.00 and gave the stock a “neutral” rating in a report on Wednesday, November 19th. Thirteen investment analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, McDonald’s currently has an average rating of “Hold” and an average price target of $328.88.

Check Out Our Latest Analysis on MCD

McDonald’s Profile

(Free Report)

McDonald’s Corporation (NYSE: MCD) is a global quick-service restaurant company best known for its hamburgers, French fries and breakfast offerings. The company develops, operates and franchises a system of restaurants that sell a range of food and beverage items, including signature products such as the Big Mac, Quarter Pounder, Chicken McNuggets, McCafé coffee beverages and a variety of salads, desserts and seasonal menu items. McDonald’s serves customers through company-operated restaurants and franchised locations, and it supports sales via dine-in, drive-thru, digital ordering platforms and third-party delivery partnerships.

Founded in 1940 by brothers Richard and Maurice McDonald as a single San Bernardino, California restaurant, the business was transformed into a franchising model after Ray Kroc joined in the mid-1950s and led the brand’s national and international expansion.

Further Reading

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Institutional Ownership by Quarter for McDonald's (NYSE:MCD)

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