Orrstown Financial Services Inc. Sells 957 Shares of McDonald's Co. (NYSE:MCD)

Orrstown Financial Services Inc. trimmed its position in McDonald's Co. (NYSE:MCD - Free Report) by 23.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,101 shares of the fast-food giant's stock after selling 957 shares during the period. Orrstown Financial Services Inc.'s holdings in McDonald's were worth $899,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of MCD. Legacy Investment Solutions LLC acquired a new stake in shares of McDonald's in the third quarter valued at approximately $25,000. RPg Family Wealth Advisory LLC acquired a new stake in McDonald's in the 3rd quarter valued at $31,000. Hara Capital LLC acquired a new stake in McDonald's in the 3rd quarter valued at $44,000. Peterson Financial Group Inc. acquired a new position in shares of McDonald's during the 3rd quarter worth about $58,000. Finally, FSA Wealth Management LLC bought a new position in shares of McDonald's in the 3rd quarter valued at about $72,000. Institutional investors own 70.29% of the company's stock.

McDonald's Trading Down 0.5 %

McDonald's stock traded down $1.49 during trading hours on Friday, hitting $288.83. 2,556,402 shares of the stock traded hands, compared to its average volume of 2,785,411. McDonald's Co. has a one year low of $243.53 and a one year high of $317.90. The firm's 50-day moving average price is $291.12 and its two-hundred day moving average price is $289.51. The company has a market cap of $206.98 billion, a PE ratio of 25.36, a PEG ratio of 3.85 and a beta of 0.73.

McDonald's (NYSE:MCD - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share for the quarter, beating the consensus estimate of $3.18 by $0.05. The company had revenue of $6.87 billion for the quarter, compared to analyst estimates of $6.82 billion. McDonald's had a negative return on equity of 175.42% and a net margin of 31.79%. The firm's revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the company posted $3.19 earnings per share. On average, sell-side analysts expect that McDonald's Co. will post 11.68 earnings per share for the current fiscal year.

Insider Transactions at McDonald's

In related news, insider Joseph M. Erlinger sold 300 shares of the company's stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $280.75, for a total value of $84,225.00. Following the transaction, the insider now directly owns 7,887 shares of the company's stock, valued at approximately $2,214,275.25. This represents a 3.66 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Desiree Ralls-Morrison sold 3,409 shares of the stock in a transaction on Monday, December 30th. The shares were sold at an average price of $290.15, for a total value 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. This trade represents a 26.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,406 shares of company stock valued at $2,150,857 in the last ninety days. 0.23% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on MCD shares. BMO Capital Markets upped their price objective on McDonald's from $315.00 to $335.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 30th. Baird R W cut shares of McDonald's from a "strong-buy" rating to a "hold" rating in a report on Wednesday, October 23rd. Robert W. Baird cut McDonald's from an "outperform" rating to a "neutral" rating and reduced their price target for the stock from $320.00 to $290.00 in a report on Wednesday, October 23rd. Guggenheim lowered McDonald's from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $290.00 to $285.00 in a research note on Wednesday, October 23rd. Finally, Truist Financial reduced their target price on McDonald's from $350.00 to $342.00 and set a "buy" rating for the company in a research note on Wednesday, October 30th. Ten research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $320.87.

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.