Money Concepts Capital Corp Sells 296 Shares of McDonald’s Co. (NYSE:MCD)

Money Concepts Capital Corp reduced its stake in McDonald’s Co. (NYSE:MCD) by 1.3% during the 4th quarter, Holdings Channel reports. The fund owned 21,694 shares of the fast-food giant’s stock after selling 296 shares during the period. Money Concepts Capital Corp’s holdings in McDonald’s were worth $6,289,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of McDonald’s by 16.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 79,588 shares of the fast-food giant’s stock worth $21,744,000 after purchasing an additional 11,177 shares during the period. Virginia Wealth Management Group Inc. grew its holdings in McDonald’s by 0.6% in the 4th quarter. Virginia Wealth Management Group Inc. now owns 13,799 shares of the fast-food giant’s stock valued at $4,000,000 after buying an additional 86 shares in the last quarter. Jericho Financial LLP bought a new position in McDonald’s during the 4th quarter worth $3,767,000. Weaver Capital Management LLC lifted its holdings in shares of McDonald’s by 20.5% during the fourth quarter. Weaver Capital Management LLC now owns 9,707 shares of the fast-food giant’s stock worth $2,814,000 after buying an additional 1,653 shares in the last quarter. Finally, Osprey Private Wealth LLC boosted its position in shares of McDonald’s by 3.5% in the fourth quarter. Osprey Private Wealth LLC now owns 8,785 shares of the fast-food giant’s stock valued at $2,547,000 after acquiring an additional 300 shares during the period. 70.29% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other McDonald’s news, EVP Marion K. Gross sold 1,499 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $290.95, for a total transaction of $436,134.05. Following the completion of the sale, the executive vice president now owns 1,560 shares of the company’s stock, valued at approximately $453,882. This represents a 49.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Joseph M. Erlinger sold 300 shares of the business’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 completion of the transaction, the insider now owns 7,887 shares in the company, valued at $2,214,275.25. This trade represents a 3.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,406 shares of company stock valued at $2,150,857 in the last ninety days. 0.23% of the stock is currently owned by insiders.

Analyst Ratings Changes

MCD has been the topic of a number of recent research reports. 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. Loop Capital reaffirmed a “buy” rating and set a $342.00 target price on shares of McDonald’s in a report on Friday, January 3rd. Wells Fargo & Company increased their price target on McDonald’s from $285.00 to $350.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. KeyCorp lowered their price objective 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. Finally, Barclays increased their target price on McDonald’s from $300.00 to $325.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. Eleven analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus 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 business has a 50 day moving average of $290.88 and a 200-day moving average of $290.38. The company 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 1 year low of $243.53 and a 1 year high of $317.90.

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.