McDonald’s Co. (NYSE:MCD) Shares Sold by Confluence Wealth Services Inc.

Confluence Wealth Services Inc. trimmed its position in McDonald’s Co. (NYSE:MCD) by 1.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 10,319 shares of the fast-food giant’s stock after selling 185 shares during the period. Confluence Wealth Services Inc.’s holdings in McDonald’s were worth $2,935,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in MCD. Legacy Investment Solutions LLC purchased a new position in McDonald’s in the 3rd quarter valued at $25,000. RPg Family Wealth Advisory LLC purchased a new position in shares of McDonald’s in the third quarter worth about $31,000. Hara Capital LLC purchased a new position in shares of McDonald’s in the third quarter worth about $44,000. Financial Life Planners acquired a new position in McDonald’s during the fourth quarter worth about $49,000. Finally, Peterson Financial Group Inc. purchased a new stake in McDonald’s during the 3rd quarter valued at about $58,000. Institutional investors and hedge funds own 70.29% of the company’s stock.

McDonald’s Stock Performance

Shares of MCD opened at $290.00 on Wednesday. The stock has a 50-day simple moving average of $290.88 and a 200-day simple moving average of $290.38. McDonald’s Co. has a 1 year low of $243.53 and a 1 year high of $317.90. The stock has a market capitalization of $207.82 billion, a PE ratio of 25.46, a PEG ratio of 3.83 and a beta of 0.74.

Insider Buying and Selling

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 value of $436,134.05. Following the transaction, the executive vice president now directly owns 1,560 shares in the company, valued at $453,882. This represents a 49.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Joseph M. Erlinger sold 1,099 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $292.50, for a total transaction of $321,457.50. Following the completion of the transaction, the insider now owns 9,286 shares of the company’s stock, valued at approximately $2,716,155. The trade was a 10.58 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,406 shares of company stock worth $2,150,857 over the last 90 days. 0.23% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on MCD shares. Robert W. Baird cut McDonald’s from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $320.00 to $290.00 in a report on Wednesday, October 23rd. Citigroup raised their target price on McDonald’s from $334.00 to $336.00 and gave the stock a “buy” rating in a research note on Tuesday, January 28th. Wells Fargo & Company boosted their price target on shares of McDonald’s from $285.00 to $350.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. Piper Sandler reduced their target price on shares of McDonald’s from $297.00 to $290.00 and set a “neutral” rating on the stock in a research note on Tuesday. Finally, TD Cowen reissued a “hold” rating and issued a $300.00 price target on shares of McDonald’s in a research note on Tuesday, October 29th. Eleven analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $319.58.

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.