Baker Tilly Wealth Management LLC Sells 378 Shares of McDonald’s Co. (NYSE:MCD)

Baker Tilly Wealth Management LLC decreased its holdings in shares of McDonald’s Co. (NYSE:MCD) by 26.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,072 shares of the fast-food giant’s stock after selling 378 shares during the quarter. Baker Tilly Wealth Management LLC’s holdings in McDonald’s were worth $311,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Fortitude Family Office LLC grew its position in shares of McDonald’s by 39.4% during the 4th quarter. Fortitude Family Office LLC now owns 4,214 shares of the fast-food giant’s stock worth $1,222,000 after buying an additional 1,190 shares in the last quarter. First Hawaiian Bank lifted its stake in McDonald’s by 1.7% in the fourth quarter. First Hawaiian Bank now owns 11,191 shares of the fast-food giant’s stock worth $3,244,000 after acquiring an additional 184 shares during the period. Douglas Lane & Associates LLC grew its holdings in McDonald’s by 23.4% during the 4th quarter. Douglas Lane & Associates LLC now owns 2,359 shares of the fast-food giant’s stock worth $684,000 after acquiring an additional 447 shares in the last quarter. InvesTrust bought a new stake in shares of McDonald’s in the 4th quarter valued at about $8,015,000. Finally, Innova Wealth Partners purchased a new stake in shares of McDonald’s in the 4th quarter worth approximately $242,000. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Desiree Ralls-Morrison sold 3,409 shares of the 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 directly owns 9,675 shares of the company’s stock, valued at approximately $2,807,201.25. This represents a 26.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Marion K. Gross sold 1,499 shares of the firm’s stock in a transaction 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 sale, the executive vice president now owns 1,560 shares in the company, valued at approximately $453,882. This represents a 49.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 12,050 shares of company stock valued at $3,556,688 over the last ninety days. Company insiders own 0.23% of the company’s stock.

McDonald’s Price Performance

MCD stock opened at $282.22 on Friday. The company has a market capitalization of $202.24 billion, a P/E ratio of 24.78, a price-to-earnings-growth ratio of 3.95 and a beta of 0.73. McDonald’s Co. has a 12 month low of $243.53 and a 12 month high of $317.90. The firm’s fifty day simple moving average is $293.94 and its 200-day simple moving average is $286.07.

McDonald’s (NYSE:MCD) last posted its quarterly earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 EPS for the quarter, beating the consensus estimate of $3.18 by $0.05. The company had revenue of $6.87 billion for the quarter, compared to analyst estimates 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 revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the company earned $3.19 earnings per share. As a group, sell-side analysts forecast that McDonald’s Co. will post 11.75 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on MCD shares. BMO Capital Markets upped their target price on McDonald’s from $315.00 to $335.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Loop Capital reaffirmed a “buy” rating and set a $342.00 price objective on shares of McDonald’s in a research report on Friday, January 3rd. JPMorgan Chase & Co. lifted their target price on McDonald’s from $270.00 to $290.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Truist Financial decreased their price target on shares of McDonald’s from $350.00 to $342.00 and set a “buy” rating for the company in a research report on Wednesday, October 30th. Finally, KeyCorp boosted their price objective on shares of McDonald’s from $305.00 to $330.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Ten investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat.com, McDonald’s has a consensus rating of “Moderate Buy” and an average price target of $321.39.

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.