Simplicity Wealth LLC Sells 6,395 Shares of McDonald’s Corporation $MCD

Simplicity Wealth LLC lessened its stake in shares of McDonald’s Corporation (NYSE:MCD) by 38.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 10,140 shares of the fast-food giant’s stock after selling 6,395 shares during the period. Simplicity Wealth LLC’s holdings in McDonald’s were worth $3,082,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Evergreen Private Wealth LLC lifted its stake in shares of McDonald’s by 162.5% during the 3rd quarter. Evergreen Private Wealth LLC now owns 84 shares of the fast-food giant’s stock valued at $26,000 after buying an additional 52 shares in the last quarter. Decker Retirement Planning Inc. raised its holdings in McDonald’s by 142.9% during the second quarter. Decker Retirement Planning Inc. now owns 85 shares of the fast-food giant’s stock valued at $25,000 after acquiring an additional 50 shares during the period. Legacy Investment Solutions LLC purchased a new position in shares of McDonald’s in the second quarter valued at about $25,000. GFG Capital LLC bought a new position in shares of McDonald’s in the second quarter worth about $29,000. Finally, Financial Gravity Companies Inc. purchased a new stake in shares of McDonald’s during the second quarter worth about $29,000. Institutional investors own 70.29% of the company’s stock.

McDonald’s Price Performance

Shares of NYSE:MCD opened at $305.64 on Thursday. The firm has a market capitalization of $217.66 billion, a PE ratio of 26.08, a price-to-earnings-growth ratio of 3.01 and a beta of 0.53. The business has a 50 day simple moving average of $308.84 and a two-hundred day simple moving average of $305.72. McDonald’s Corporation has a 1 year low of $280.40 and a 1 year high of $326.32.

McDonald’s (NYSE:MCD) last posted its quarterly earnings results on Wednesday, November 5th. The fast-food giant reported $3.22 EPS for the quarter, missing the consensus estimate of $3.33 by ($0.11). McDonald’s had a negative return on equity of 280.89% and a net margin of 32.04%.The company had revenue of $7.08 billion during the quarter, compared to analysts’ expectations of $7.10 billion. During the same period in the prior year, the business earned $3.23 EPS. The company’s quarterly revenue was up 3.0% on a year-over-year basis. Equities research analysts expect that McDonald’s Corporation will post 12.25 EPS for the current fiscal year.

Insider Buying and Selling at McDonald’s

In other McDonald’s news, EVP Manuel Jm Steijaert sold 13,134 shares of the firm’s stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $300.42, for a total value of $3,945,716.28. Following the completion of the sale, the executive vice president directly owned 4,606 shares in the company, valued at $1,383,734.52. This trade represents a 74.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Ian Frederick Borden sold 17,134 shares of the company’s stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $310.00, for a total value of $5,311,540.00. Following the transaction, the chief financial officer directly owned 26,353 shares in the company, valued at $8,169,430. This represents a 39.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 45,142 shares of company stock worth $13,841,169. 0.25% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on MCD shares. Oppenheimer raised shares of McDonald’s from a “market perform” rating to an “outperform” rating and set a $355.00 price objective for the company in a report on Tuesday, January 6th. Wells Fargo & Company upped their target price on shares of McDonald’s from $340.00 to $345.00 and gave the stock an “overweight” rating in a research report on Thursday, November 6th. Robert W. Baird raised their target price on shares of McDonald’s from $322.00 to $325.00 and gave the company a “neutral” rating in a research note on Thursday, November 6th. Truist Financial boosted their price target on shares of McDonald’s from $350.00 to $356.00 and gave the stock a “buy” rating in a research note on Thursday, January 8th. Finally, Morgan Stanley set a $335.00 price objective on McDonald’s in a research report on Friday, October 17th. Thirteen investment analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, McDonald’s has a consensus rating of “Hold” and an average price target of $328.88.

McDonald’s Profile

McDonald’s Corporation (NYSE: MCD) is a global quick-service restaurant company best known for its hamburgers, French fries and breakfast offerings. The company develops, operates and franchises a system of restaurants that sell a range of food and beverage items, including signature products such as the Big Mac, Quarter Pounder, Chicken McNuggets, McCafé coffee beverages and a variety of salads, desserts and seasonal menu items. McDonald’s serves customers through company-operated restaurants and franchised locations, and it supports sales via dine-in, drive-thru, digital ordering platforms and third-party delivery partnerships.

Founded in 1940 by brothers Richard and Maurice McDonald as a single San Bernardino, California restaurant, the business was transformed into a franchising model after Ray Kroc joined in the mid-1950s and led the brand’s national and international expansion.