Ibex Wealth Advisors Sells 10,252 Shares of McDonald’s Co. (NYSE:MCD)

Ibex Wealth Advisors cut its holdings in McDonald’s Co. (NYSE:MCD) by 79.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,628 shares of the fast-food giant’s stock after selling 10,252 shares during the period. Ibex Wealth Advisors’ holdings in McDonald’s were worth $762,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Legacy Investment Solutions LLC purchased a new stake in McDonald’s during the 3rd quarter valued at $25,000. RPg Family Wealth Advisory LLC bought a new position in shares of McDonald’s during the third quarter valued at about $31,000. Hara Capital LLC purchased a new stake in shares of McDonald’s during the third quarter worth about $44,000. Peterson Financial Group Inc. bought a new stake in shares of McDonald’s in the third quarter worth about $58,000. Finally, FSA Wealth Management LLC purchased a new position in McDonald’s during the 3rd quarter valued at about $72,000. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on MCD shares. Guggenheim cut McDonald’s from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $290.00 to $285.00 in a report on Wednesday, October 23rd. Evercore ISI raised their price target on McDonald’s from $320.00 to $340.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 15th. Bank of America upped their price objective on shares of McDonald’s from $321.00 to $324.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Truist Financial cut their target price on shares of McDonald’s from $350.00 to $342.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. Finally, Morgan Stanley decreased their price target on shares of McDonald’s from $340.00 to $336.00 and set an “overweight” rating for the company in a research note on Tuesday, January 21st. Ten equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $320.87.

Insider Activity

In other McDonald’s news, insider Joseph M. Erlinger sold 300 shares of the stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $280.75, for a total value of $84,225.00. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Marion K. Gross sold 1,499 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $294.51, for a total value of $441,470.49. Following the sale, the executive vice president now owns 1,560 shares of the company’s stock, valued at approximately $459,435.60. This represents a 49.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 8,905 shares of company stock valued at $2,592,327 in the last ninety days. 0.23% of the stock is currently owned by company insiders.

McDonald’s Stock Down 0.3 %

Shares of NYSE MCD opened at $290.41 on Thursday. The firm’s 50-day moving average price is $291.12 and its 200-day moving average price is $289.23. McDonald’s Co. has a 52-week low of $243.53 and a 52-week high of $317.90. The company has a market cap of $208.11 billion, a PE ratio of 25.50, a PEG ratio of 3.66 and a beta of 0.73.

McDonald’s (NYSE:MCD) last issued its 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 company had revenue of $6.87 billion for the quarter, compared to analysts’ expectations 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 last year, the company posted $3.19 earnings per share. As a group, equities research analysts anticipate that McDonald’s Co. will post 11.72 EPS for the current fiscal year.

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.