Confluence Wealth Services Inc. Buys Shares of 12,345 McDonald’s Co. (NYSE:MCD)

Confluence Wealth Services Inc. bought a new position in shares of McDonald’s Co. (NYSE:MCDGet Rating) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 12,345 shares of the fast-food giant’s stock, valued at approximately $3,309,000. McDonald’s makes up approximately 1.1% of Confluence Wealth Services Inc.’s investment portfolio, making the stock its 12th biggest position.

A number of other large investors have also recently modified their holdings of MCD. Blue Square Asset Management LLC lifted its stake in shares of McDonald’s by 0.8% during the 4th quarter. Blue Square Asset Management LLC now owns 4,743 shares of the fast-food giant’s stock valued at $1,271,000 after buying an additional 39 shares in the last quarter. Red Wave Investments LLC increased its position in shares of McDonald’s by 4.2% during the fourth quarter. Red Wave Investments LLC now owns 984 shares of the fast-food giant’s stock valued at $264,000 after acquiring an additional 40 shares during the last quarter. Vista Wealth Management Group LLC lifted its position in shares of McDonald’s by 3.3% during the 4th quarter. Vista Wealth Management Group LLC now owns 1,285 shares of the fast-food giant’s stock worth $344,000 after buying an additional 41 shares during the last quarter. Fragasso Group Inc. increased its stake in McDonald’s by 1.2% in the 4th quarter. Fragasso Group Inc. now owns 3,479 shares of the fast-food giant’s stock valued at $933,000 after buying an additional 41 shares during the period. Finally, AdvisorNet Financial Inc lifted its holdings in McDonald’s by 0.6% in the 4th quarter. AdvisorNet Financial Inc now owns 7,236 shares of the fast-food giant’s stock valued at $1,940,000 after purchasing an additional 41 shares in the last quarter. 68.44% of the stock is owned by institutional investors.

A number of equities analysts recently weighed in on the company. Barclays lifted their price target on McDonald’s from $300.00 to $305.00 and gave the stock an “overweight” rating in a research note on Friday, January 28th. Piper Sandler dropped their target price on McDonald’s from $282.00 to $250.00 and set an “overweight” rating on the stock in a research report on Monday, March 28th. Robert W. Baird boosted their price objective on shares of McDonald’s from $268.00 to $293.00 in a research report on Tuesday, January 25th. BTIG Research cut their price target on shares of McDonald’s from $295.00 to $280.00 and set a “buy” rating on the stock in a research report on Tuesday, April 19th. Finally, Citigroup increased their price objective on shares of McDonald’s from $270.00 to $273.00 in a research note on Friday, April 29th. Seven investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $281.81.

In other news, insider Joseph M. Erlinger sold 5,892 shares of the firm’s stock in a transaction dated Wednesday, May 4th. The shares were sold at an average price of $249.23, for a total value of $1,468,463.16. Following the completion of the sale, the insider now owns 8,187 shares in the company, valued at approximately $2,040,446.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Catherine M. Engelbert purchased 1,000 shares of McDonald’s stock in a transaction dated Monday, February 28th. The stock was acquired at an average price of $244.18 per share, with a total value of $244,180.00. The disclosure for this purchase can be found here. Corporate insiders own 0.18% of the company’s stock.

NYSE MCD traded down $0.24 on Thursday, reaching $244.19. The company had a trading volume of 2,857,995 shares, compared to its average volume of 3,229,620. The business has a 50 day moving average of $244.23 and a two-hundred day moving average of $251.66. The firm has a market cap of $180.59 billion, a price-to-earnings ratio of 25.79, a P/E/G ratio of 3.18 and a beta of 0.57. McDonald’s Co. has a fifty-two week low of $217.68 and a fifty-two week high of $271.15.

McDonald’s (NYSE:MCDGet Rating) last released its quarterly earnings results on Thursday, April 28th. The fast-food giant reported $2.28 EPS for the quarter, beating analysts’ consensus estimates of $2.18 by $0.10. The firm had revenue of $5.67 billion during the quarter, compared to analyst estimates of $5.57 billion. McDonald’s had a net margin of 29.93% and a negative return on equity of 131.20%. The business’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same period in the previous year, the business earned $1.92 EPS. On average, equities research analysts forecast that McDonald’s Co. will post 9.83 EPS for the current year.

McDonald’s Profile (Get Rating)

McDonald's Corporation operates and franchises McDonald's restaurants in the United States and internationally. Its restaurants offer hamburgers and cheeseburgers, chicken sandwiches and nuggets, wraps, fries, salads, oatmeal, shakes, desserts, sundaes, soft serve cones, bakery items, soft drinks, coffee, and beverages and other beverages, as well as breakfast menu, including biscuit and bagel sandwiches, breakfast burritos, hotcakes, and other sandwiches.

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Institutional Ownership by Quarter for McDonald's (NYSE:MCD)

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