Independent Wealth Network Inc. Boosts Stake in McDonald’s Co. (NYSE:MCD)

Independent Wealth Network Inc. increased its position in shares of McDonald’s Co. (NYSE:MCD) by 5.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 736 shares of the fast-food giant’s stock after buying an additional 36 shares during the quarter. Independent Wealth Network Inc.’s holdings in McDonald’s were worth $213,000 as of its most recent SEC filing.

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

McDonald’s Stock Up 1.1 %

Shares of NYSE:MCD opened at $284.49 on Friday. The business has a 50 day moving average price of $291.49 and a 200 day moving average price of $287.90. The company has a market cap of $203.87 billion, a price-to-earnings ratio of 24.98, a PEG ratio of 3.68 and a beta of 0.73. McDonald’s Co. has a twelve month low of $243.53 and a twelve month high of $317.90.

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

Insider Buying and Selling at McDonald’s

In other news, EVP Desiree Ralls-Morrison sold 3,409 shares of McDonald’s 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 transaction, the executive vice president now directly owns 9,675 shares of the company’s stock, valued at $2,807,201.25. This trade represents a 26.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Marion K. Gross sold 1,499 shares of McDonald’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 transaction, the executive vice president now owns 1,560 shares in the company, valued at $459,435.60. This trade represents a 49.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 8,605 shares of company stock worth $2,508,102. 0.23% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. 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. UBS Group lifted their price objective on shares of McDonald’s from $305.00 to $345.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Barclays boosted their price objective on shares of McDonald’s from $300.00 to $325.00 and gave the company an “overweight” rating in a research note on Tuesday, October 22nd. Truist Financial reduced their target price on shares of McDonald’s from $350.00 to $342.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. Finally, Citigroup raised shares of McDonald’s from a “neutral” rating to a “buy” rating and increased their price target for the stock from $311.00 to $334.00 in a report on Friday, January 10th. Ten research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat, McDonald’s has a consensus rating of “Moderate Buy” and a consensus price target of $321.22.

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.