Kelly Financial Services LLC Sells 94 Shares of McDonald’s Co. (NYSE:MCD)

Kelly Financial Services LLC lessened its stake in shares of McDonald’s Co. (NYSE:MCD) by 7.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,151 shares of the fast-food giant’s stock after selling 94 shares during the period. Kelly Financial Services LLC’s holdings in McDonald’s were worth $334,000 at the end of the most recent reporting period.

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

Insider Transactions at McDonald’s

In other news, insider Joseph M. Erlinger sold 1,099 shares of the company’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $292.38, for a total transaction of $321,325.62. Following the transaction, the insider now directly owns 10,385 shares of the company’s stock, valued at $3,036,366.30. This represents a 9.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Marion K. Gross sold 1,499 shares of McDonald’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $294.51, for a total transaction of $441,470.49. Following the completion of the sale, the executive vice president now directly owns 1,560 shares of the company’s stock, valued at approximately $459,435.60. The trade was a 49.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 9,704 shares of company stock valued at $2,829,428 in the last 90 days. 0.23% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

MCD has been the topic of a number of recent analyst reports. KeyCorp lifted their price objective on shares of McDonald’s from $305.00 to $330.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Baird R W lowered McDonald’s from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Robert W. Baird downgraded McDonald’s from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $320.00 to $290.00 in a research report on Wednesday, October 23rd. Morgan Stanley lifted their target price on McDonald’s from $296.00 to $340.00 and gave the company an “overweight” rating in a research report on Tuesday, October 15th. Finally, Wedbush reissued an “outperform” rating and issued a $295.00 target price on shares of McDonald’s in a report on Wednesday, October 23rd. Ten research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $321.39.

McDonald’s Trading Up 0.4 %

MCD stock opened at $280.90 on Friday. McDonald’s Co. has a 1-year low of $243.53 and a 1-year high of $317.90. The stock has a 50-day moving average price of $292.54 and a 200-day moving average price of $286.97. The firm has a market cap of $201.30 billion, a PE ratio of 24.66, a price-to-earnings-growth ratio of 3.67 and a beta of 0.73.

McDonald’s (NYSE:MCD) last posted its quarterly earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.18 by $0.05. McDonald’s had a negative return on equity of 175.42% and a net margin of 31.79%. The firm had revenue of $6.87 billion for the quarter, compared to analysts’ expectations of $6.82 billion. During the same period in the prior year, the business earned $3.19 EPS. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. On average, analysts forecast that McDonald’s Co. will post 11.73 earnings per share for the current 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.