Bar Harbor Wealth Management Sells 489 Shares of McDonald’s Co. (NYSE:MCD)

Bar Harbor Wealth Management trimmed its position in McDonald’s Co. (NYSE:MCD) by 2.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,031 shares of the fast-food giant’s stock after selling 489 shares during the quarter. Bar Harbor Wealth Management’s holdings in McDonald’s were worth $4,937,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. Kennebec Savings Bank bought a new position in shares of McDonald’s in the 3rd quarter worth $1,394,000. Charles Schwab Investment Management Inc. boosted its holdings in 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 worth $1,694,403,000 after buying an additional 49,106 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in shares of McDonald’s by 58.9% during 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 during the period. U.S. Capital Wealth Advisors LLC increased its stake in shares of 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 valued at $14,978,000 after acquiring an additional 2,997 shares during the last quarter. Finally, Weiss Asset Management LP bought a new position in McDonald’s during the 3rd quarter worth approximately $16,870,000. 70.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other McDonald’s news, EVP Desiree Ralls-Morrison sold 3,409 shares of the business’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $290.15, for a total transaction of $989,121.35. Following the sale, the executive vice president now owns 9,675 shares of the company’s stock, valued at $2,807,201.25. The trade was a 26.05 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Joseph M. Erlinger sold 1,099 shares of the firm’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $292.38, for a total value of $321,325.62. Following the completion of the transaction, the insider now directly owns 10,385 shares of the company’s stock, valued at $3,036,366.30. The trade was a 9.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 9,704 shares of company stock valued at $2,829,428. 0.23% of the stock is owned by insiders.

Wall Street Analyst Weigh In

MCD has been the subject of several recent analyst reports. Argus raised shares of McDonald’s from a “hold” rating to a “buy” rating in a research note on Tuesday, October 8th. UBS Group raised their price objective on McDonald’s from $305.00 to $345.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Guggenheim downgraded McDonald’s from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $290.00 to $285.00 in a report on Wednesday, October 23rd. Evercore ISI raised their price target on McDonald’s from $320.00 to $340.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 15th. Finally, Truist Financial dropped their price target on McDonald’s from $350.00 to $342.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. Ten investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat, McDonald’s presently has an average rating of “Moderate Buy” and an average target price of $321.39.

McDonald’s Trading Up 0.3 %

NYSE MCD traded up $0.89 during trading hours on Monday, hitting $283.20. 1,951,626 shares of the company’s stock were exchanged, compared to its average volume of 2,845,870. The stock has a 50-day simple moving average of $293.94 and a 200 day simple moving average of $286.47. The firm has a market cap of $202.95 billion, a price-to-earnings ratio of 24.86, a PEG ratio of 3.95 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 posted its earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $6.82 billion. During the same quarter in the prior year, the business posted $3.19 EPS. The business’s revenue was up 2.7% compared to the same quarter last year. On average, sell-side analysts anticipate that McDonald’s Co. will post 11.75 earnings per share for the current fiscal year.

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.