Harel Insurance Investments & Financial Services Ltd. Reduces Stake in McDonald’s Co. (NYSE:MCD)

Harel Insurance Investments & Financial Services Ltd. lessened its stake in shares of McDonald’s Co. (NYSE:MCD) by 29.7% in the fourth quarter, Holdings Channel reports. The institutional investor owned 237 shares of the fast-food giant’s stock after selling 100 shares during the quarter. Harel Insurance Investments & Financial Services Ltd.’s holdings in McDonald’s were worth $68,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Steigerwald Gordon & Koch Inc. increased its holdings in McDonald’s by 2.4% during the 3rd quarter. Steigerwald Gordon & Koch Inc. now owns 1,422 shares of the fast-food giant’s stock worth $433,000 after acquiring an additional 33 shares during the period. Riversedge Advisors LLC boosted its stake in McDonald’s by 2.0% during the third quarter. Riversedge Advisors LLC now owns 1,686 shares of the fast-food giant’s stock valued at $513,000 after buying an additional 33 shares during the period. Proquility Private Wealth Partners LLC grew its position in McDonald’s by 1.0% during the third quarter. Proquility Private Wealth Partners LLC now owns 3,472 shares of the fast-food giant’s stock worth $1,057,000 after buying an additional 35 shares in the last quarter. Clear Creek Financial Management LLC increased its stake in McDonald’s by 2.8% in the 3rd quarter. Clear Creek Financial Management LLC now owns 1,300 shares of the fast-food giant’s stock worth $396,000 after acquiring an additional 35 shares during the last quarter. Finally, GDS Wealth Management raised its holdings in shares of McDonald’s by 1.4% in the 3rd quarter. GDS Wealth Management now owns 2,504 shares of the fast-food giant’s stock valued at $762,000 after acquiring an additional 35 shares in the last quarter. 70.29% of the stock is currently owned by institutional investors.

McDonald’s Stock Performance

NYSE MCD opened at $285.37 on Friday. The stock has a market cap of $204.50 billion, a P/E ratio of 25.05, a price-to-earnings-growth ratio of 3.66 and a beta of 0.73. The stock has a 50 day simple moving average of $291.07 and a two-hundred day simple moving average of $288.14. McDonald’s Co. has a fifty-two week low of $243.53 and a fifty-two week high of $317.90.

McDonald’s (NYSE:MCD) last issued 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 business had revenue of $6.87 billion for the quarter, compared to the consensus estimate of $6.82 billion. During the same period in the previous year, the firm earned $3.19 EPS. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. Sell-side analysts predict that McDonald’s Co. will post 11.72 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on MCD shares. Truist Financial cut their price objective on McDonald’s from $350.00 to $342.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. Baird R W lowered shares of McDonald’s from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Wells Fargo & Company lifted their price objective on shares of McDonald’s from $285.00 to $350.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Morgan Stanley reduced their target price on McDonald’s from $340.00 to $336.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 21st. Finally, Wedbush reiterated an “outperform” rating and issued a $295.00 price objective 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 given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $320.78.

Insider Activity at McDonald’s

In related news, EVP Desiree Ralls-Morrison sold 3,409 shares of McDonald’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $290.15, for a total transaction of $989,121.35. Following the sale, the executive vice president now directly owns 9,675 shares in the company, valued at $2,807,201.25. The trade was a 26.05 % decrease in their ownership of the stock. The transaction 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 the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $294.51, for a total value of $441,470.49. Following the completion of the transaction, the executive vice president now owns 1,560 shares of the company’s stock, valued at approximately $459,435.60. This trade represents a 49.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 8,905 shares of company stock worth $2,592,327 over the last 90 days. 0.23% of the stock is owned by company insiders.

McDonald’s 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.