OFC Financial Planning LLC Acquires New Position in McDonald’s Co. (NYSE:MCD)

OFC Financial Planning LLC bought a new position in shares of McDonald’s Co. (NYSE:MCD) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,650 shares of the fast-food giant’s stock, valued at approximately $478,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of MCD. Kennebec Savings Bank acquired a new stake in McDonald’s in the third quarter valued at $1,394,000. Charles Schwab Investment Management Inc. raised its position in shares of McDonald’s by 0.9% during the 3rd 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 purchasing an additional 49,106 shares during the last quarter. U.S. Capital Wealth Advisors LLC grew its holdings in McDonald’s by 6.5% during 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 buying an additional 2,997 shares during the last quarter. PFW Advisors LLC acquired a new position in shares of McDonald’s in the fourth quarter worth $2,471,000. Finally, Weiss Asset Management LP purchased a new stake in shares of McDonald’s in the third quarter valued at $16,870,000. 70.29% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Joseph M. Erlinger sold 1,099 shares of McDonald’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $292.50, for a total value of $321,457.50. Following the sale, the insider now directly owns 9,286 shares in the company, valued at $2,716,155. This trade represents a 10.58 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Desiree Ralls-Morrison sold 3,409 shares of the company’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $290.15, for a total transaction of $989,121.35. Following the completion of the transaction, the executive vice president now owns 9,675 shares of the company’s stock, valued at approximately $2,807,201.25. This trade represents a 26.05 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,406 shares of company stock valued at $2,150,857. Company insiders own 0.23% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Truist Financial decreased their price target on shares of McDonald’s from $350.00 to $342.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. Morgan Stanley lowered their target price on shares of McDonald’s from $340.00 to $336.00 and set an “overweight” rating for the company in a research note on Tuesday, January 21st. Baird R W downgraded McDonald’s from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Bank of America raised their price objective on McDonald’s from $321.00 to $324.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Finally, KeyCorp decreased their price target on McDonald’s from $330.00 to $320.00 and set an “overweight” rating on the stock in a research note on Friday, January 24th. Ten investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $320.87.

McDonald’s Stock Performance

Shares of MCD stock opened at $288.83 on Friday. The stock has a market capitalization of $206.98 billion, a price-to-earnings ratio of 25.36, a PEG ratio of 3.85 and a beta of 0.73. McDonald’s Co. has a one year low of $243.53 and a one year high of $317.90. The company’s 50-day simple moving average is $291.12 and its 200-day simple moving average is $289.51.

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 company had revenue of $6.87 billion during the quarter, compared to analyst estimates of $6.82 billion. During the same quarter last year, the firm earned $3.19 EPS. The business’s revenue was up 2.7% on a year-over-year basis. As a group, research analysts forecast that McDonald’s Co. will post 11.68 EPS for the current 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.