Confluence Wealth Services Inc. Lowers Stock Position in McDonald’s Co. (NYSE:MCD)

Confluence Wealth Services Inc. trimmed its holdings in McDonald’s Co. (NYSE:MCD) by 1.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 10,319 shares of the fast-food giant’s stock after selling 185 shares during the period. Confluence Wealth Services Inc.’s holdings in McDonald’s were worth $2,935,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Legacy Investment Solutions LLC purchased a new stake in shares of McDonald’s in the third quarter valued at about $25,000. RPg Family Wealth Advisory LLC acquired a new position in McDonald’s in the 3rd quarter valued at about $31,000. Hara Capital LLC purchased a new stake in McDonald’s during the 3rd quarter valued at approximately $44,000. Financial Life Planners acquired a new stake in McDonald’s during the 4th quarter worth approximately $49,000. Finally, Peterson Financial Group Inc. purchased a new position in shares of McDonald’s in the 3rd quarter valued at approximately $58,000. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on MCD shares. Morgan Stanley cut their price target on McDonald’s from $340.00 to $336.00 and set an “overweight” rating for the company in a research note on Tuesday, January 21st. Piper Sandler reduced their target price on shares of McDonald’s from $297.00 to $290.00 and set a “neutral” rating for the company in a research note on Tuesday. Wells Fargo & Company raised their price objective on shares of McDonald’s from $285.00 to $350.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. KeyCorp dropped their target price on McDonald’s from $330.00 to $320.00 and set an “overweight” rating on the stock in a research report on Friday, January 24th. Finally, Loop Capital reissued a “buy” rating and issued a $342.00 price target on shares of McDonald’s in a report on Friday, January 3rd. Eleven equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $319.58.

McDonald’s Price Performance

McDonald’s stock opened at $290.00 on Wednesday. The firm’s 50-day moving average is $290.88 and its two-hundred day moving average is $290.38. The stock has a market capitalization of $207.82 billion, a P/E ratio of 25.46, a P/E/G ratio of 3.83 and a beta of 0.74. McDonald’s Co. has a 12-month low of $243.53 and a 12-month high of $317.90.

Insiders Place Their Bets

In related news, EVP Desiree Ralls-Morrison sold 3,409 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $290.15, for a total value of $989,121.35. Following the completion of the sale, the executive vice president now directly owns 9,675 shares in the company, valued at approximately $2,807,201.25. The trade was a 26.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Joseph M. Erlinger sold 300 shares of the stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $280.75, for a total transaction of $84,225.00. Following the transaction, the insider now directly owns 7,887 shares in the company, valued at approximately $2,214,275.25. This represents a 3.66 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 7,406 shares of company stock valued at $2,150,857. Company insiders own 0.23% of the company’s stock.

McDonald’s 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.