Destiny Wealth Partners LLC Sells 46 Shares of McDonald’s Co. (NYSE:MCD)

Destiny Wealth Partners LLC lowered its stake in McDonald’s Co. (NYSE:MCD) by 3.3% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,353 shares of the fast-food giant’s stock after selling 46 shares during the quarter. Destiny Wealth Partners LLC’s holdings in McDonald’s were worth $392,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Concord Wealth Partners raised its holdings in McDonald’s by 0.9% in the 4th quarter. Concord Wealth Partners now owns 8,525 shares of the fast-food giant’s stock worth $2,471,000 after acquiring an additional 79 shares during the period. Chicago Partners Investment Group LLC grew its position in shares of McDonald’s by 2.7% in the fourth quarter. Chicago Partners Investment Group LLC now owns 18,910 shares of the fast-food giant’s stock valued at $5,425,000 after purchasing an additional 496 shares during the last quarter. Waldron Private Wealth LLC increased its stake in shares of McDonald’s by 3.9% in the fourth quarter. Waldron Private Wealth LLC now owns 12,482 shares of the fast-food giant’s stock worth $3,618,000 after purchasing an additional 466 shares during the period. Everett Harris & Co. CA lifted its position in shares of McDonald’s by 1.1% during the 4th quarter. Everett Harris & Co. CA now owns 406,013 shares of the fast-food giant’s stock worth $117,699,000 after purchasing an additional 4,302 shares during the last quarter. Finally, Heck Capital Advisors LLC bought a new stake in McDonald’s during the 4th quarter valued at approximately $892,000. Institutional investors own 70.29% of the company’s stock.

Insider Transactions at McDonald’s

In related news, EVP Marion K. Gross sold 1,499 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $290.95, for a total value of $436,134.05. Following the transaction, the executive vice president now owns 1,560 shares in the company, valued at $453,882. This trade represents a 49.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Joseph M. Erlinger sold 300 shares of McDonald’s 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 sale, the insider now owns 7,887 shares of the company’s stock, 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. Over the last three months, insiders have sold 7,406 shares of company stock worth $2,150,857. Corporate insiders own 0.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on MCD. Citigroup lifted their price target on McDonald’s from $334.00 to $336.00 and gave the stock a “buy” rating in a research report on Tuesday. Wedbush reiterated an “outperform” rating and set a $295.00 target price on shares of McDonald’s in a research note on Wednesday, October 23rd. UBS Group raised their price target on shares of McDonald’s from $305.00 to $345.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. TD Cowen reaffirmed a “hold” rating and set a $300.00 price objective on shares of McDonald’s in a research report on Tuesday, October 29th. Finally, Guggenheim downgraded McDonald’s from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $290.00 to $285.00 in a research report on Wednesday, October 23rd. Ten analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat, McDonald’s presently has a consensus rating of “Moderate Buy” and a consensus price target of $320.87.

McDonald’s Stock Performance

McDonald’s stock opened at $288.83 on Friday. McDonald’s Co. has a 52 week low of $243.53 and a 52 week high of $317.90. The firm has a market cap of $206.98 billion, a P/E ratio of 25.36, a P/E/G ratio of 3.85 and a beta of 0.73. The business’s fifty day moving average is $291.12 and its two-hundred day moving average is $289.51.

McDonald’s (NYSE:MCD) last issued its quarterly 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. The business had revenue of $6.87 billion for the quarter, compared to the consensus estimate of $6.82 billion. McDonald’s had a net margin of 31.79% and a negative return on equity of 175.42%. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.19 EPS. On average, equities research analysts predict that McDonald’s Co. will post 11.68 earnings per share for the current 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.