Simplicity Wealth LLC Decreases Stake in McDonald’s Corporation $MCD

Simplicity Wealth LLC cut its holdings in shares of McDonald’s Corporation (NYSE:MCD) by 38.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,140 shares of the fast-food giant’s stock after selling 6,395 shares during the quarter. Simplicity Wealth LLC’s holdings in McDonald’s were worth $3,082,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of the business. Decker Retirement Planning Inc. grew its stake in McDonald’s by 142.9% in the 2nd quarter. Decker Retirement Planning Inc. now owns 85 shares of the fast-food giant’s stock valued at $25,000 after buying an additional 50 shares in the last quarter. Legacy Investment Solutions LLC bought a new position in shares of McDonald’s in the second quarter worth $25,000. Evergreen Private Wealth LLC grew its position in shares of McDonald’s by 162.5% in the third quarter. Evergreen Private Wealth LLC now owns 84 shares of the fast-food giant’s stock valued at $26,000 after purchasing an additional 52 shares in the last quarter. GFG Capital LLC bought a new stake in shares of McDonald’s during the 2nd quarter valued at $29,000. Finally, Financial Gravity Companies Inc. bought a new stake in shares of McDonald’s during the 2nd quarter valued at $29,000. Hedge funds and other institutional investors own 70.29% of the company’s stock.

McDonald’s Stock Up 0.9%

Shares of MCD opened at $305.64 on Thursday. The stock has a market capitalization of $217.66 billion, a P/E ratio of 26.08, a PEG ratio of 3.01 and a beta of 0.53. McDonald’s Corporation has a twelve month low of $280.40 and a twelve month high of $326.32. The firm has a fifty day simple moving average of $308.84 and a two-hundred day simple moving average of $305.72.

McDonald’s (NYSE:MCD) last released its quarterly earnings data on Wednesday, November 5th. The fast-food giant reported $3.22 earnings per share for the quarter, missing the consensus estimate of $3.33 by ($0.11). The business had revenue of $7.08 billion during the quarter, compared to analysts’ expectations of $7.10 billion. McDonald’s had a negative return on equity of 280.89% and a net margin of 32.04%.The company’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter last year, the business posted $3.23 EPS. Sell-side analysts expect that McDonald’s Corporation will post 12.25 EPS for the current fiscal year.

Insider Transactions at McDonald’s

In related news, EVP Manuel Jm Steijaert sold 13,134 shares of McDonald’s stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $300.42, for a total transaction of $3,945,716.28. Following the completion of the transaction, the executive vice president directly owned 4,606 shares of the company’s stock, valued at $1,383,734.52. This trade represents a 74.04% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Joseph M. Erlinger sold 3,195 shares of the business’s stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $305.82, for a total value of $977,094.90. Following the completion of the sale, the insider directly owned 6,088 shares in the company, valued at approximately $1,861,832.16. This represents a 34.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 45,142 shares of company stock worth $13,841,169. Corporate insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on MCD. BTIG Research reaffirmed a “neutral” rating on shares of McDonald’s in a report on Friday, October 24th. Wells Fargo & Company upped their target price on shares of McDonald’s from $340.00 to $345.00 and gave the stock an “overweight” rating in a report on Thursday, November 6th. TD Cowen reiterated a “hold” rating on shares of McDonald’s in a research note on Thursday, January 8th. Barclays boosted their price target on shares of McDonald’s from $358.00 to $372.00 and gave the company an “overweight” rating in a research report on Wednesday, January 7th. Finally, Citigroup dropped their price target on McDonald’s from $381.00 to $375.00 and set a “buy” rating for the company in a research report on Tuesday, October 21st. Thirteen investment analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $328.88.

McDonald’s Profile

McDonald’s Corporation (NYSE: MCD) is a global quick-service restaurant company best known for its hamburgers, French fries and breakfast offerings. The company develops, operates and franchises a system of restaurants that sell a range of food and beverage items, including signature products such as the Big Mac, Quarter Pounder, Chicken McNuggets, McCafé coffee beverages and a variety of salads, desserts and seasonal menu items. McDonald’s serves customers through company-operated restaurants and franchised locations, and it supports sales via dine-in, drive-thru, digital ordering platforms and third-party delivery partnerships.

Founded in 1940 by brothers Richard and Maurice McDonald as a single San Bernardino, California restaurant, the business was transformed into a franchising model after Ray Kroc joined in the mid-1950s and led the brand’s national and international expansion.