AdvisorNet Financial Inc Sells 222 Shares of McDonald’s Co. (NYSE:MCD)

AdvisorNet Financial Inc cut its stake in McDonald’s Co. (NYSE:MCD) by 5.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,749 shares of the fast-food giant’s stock after selling 222 shares during the period. AdvisorNet Financial Inc’s holdings in McDonald’s were worth $1,087,000 as of its most recent filing with the Securities and Exchange Commission.

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

McDonald’s Stock Down 0.8 %

Shares of NYSE:MCD opened at $281.40 on Wednesday. The firm has a market cap of $201.66 billion, a price-to-earnings ratio of 24.71, a PEG ratio of 3.95 and a beta of 0.73. McDonald’s Co. has a 12 month low of $243.53 and a 12 month high of $317.90. The company’s fifty day simple moving average is $293.43 and its 200 day simple moving average is $286.83.

McDonald’s (NYSE:MCD) last released its quarterly earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.18 by $0.05. The firm had revenue of $6.87 billion for the quarter, compared to the consensus estimate of $6.82 billion. McDonald’s had a negative return on equity of 175.42% and a net margin of 31.79%. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter last year, the business posted $3.19 EPS. Research analysts expect that McDonald’s Co. will post 11.75 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on MCD shares. KeyCorp upped their target price on shares of McDonald’s from $305.00 to $330.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Loop Capital restated a “buy” rating and issued a $342.00 price objective on shares of McDonald’s in a report on Friday, January 3rd. Barclays lifted their target price on shares of McDonald’s from $300.00 to $325.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. Morgan Stanley upped their target price on shares of McDonald’s from $296.00 to $340.00 and gave the company an “overweight” rating in a research report on Tuesday, October 15th. Finally, Wells Fargo & Company raised their price target on McDonald’s from $285.00 to $350.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Ten analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $321.39.

Insider Activity at McDonald’s

In other news, insider Joseph M. Erlinger sold 1,099 shares of McDonald’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $292.38, for a total value of $321,325.62. Following the sale, the insider now directly owns 10,385 shares in the company, valued at $3,036,366.30. This trade represents a 9.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Marion K. Gross sold 1,499 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $290.95, for a total transaction of $436,134.05. Following the completion of the sale, the executive vice president now directly owns 1,560 shares in the company, valued at approximately $453,882. This represents a 49.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 9,704 shares of company stock valued at $2,829,428. 0.23% of the stock is owned by insiders.

About McDonald’s

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.