Wealth Enhancement Advisory Services LLC Grows Stake in McDonald's Co. (NYSE:MCD)

Wealth Enhancement Advisory Services LLC increased its holdings in McDonald's Co. (NYSE:MCD - Free Report) by 31.4% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 480,355 shares of the fast-food giant's stock after buying an additional 114,692 shares during the period. Wealth Enhancement Advisory Services LLC owned 0.07% of McDonald's worth $146,272,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in MCD. Legacy Investment Solutions LLC purchased a new stake in McDonald's during the third quarter valued at about $25,000. RPg Family Wealth Advisory LLC purchased a new position in shares of McDonald's in the third quarter worth about $31,000. Hara Capital LLC purchased a new position in shares of McDonald's in the third quarter worth about $44,000. Peterson Financial Group Inc. purchased a new position in shares of McDonald's in the third quarter worth about $58,000. Finally, FSA Wealth Management LLC purchased a new position in shares of McDonald's in the third quarter worth about $72,000. Hedge funds and other institutional investors own 70.29% of the company's stock.

McDonald's Price Performance

Shares of NYSE:MCD traded down $4.68 during midday trading on Friday, hitting $282.22. The company had a trading volume of 3,945,010 shares, compared to its average volume of 3,047,635. The company has a market cap of $202.24 billion, a price-to-earnings ratio of 24.78, 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 has a fifty day moving average of $293.94 and a two-hundred day moving average of $286.07.

McDonald's (NYSE:MCD - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The fast-food giant reported $3.23 EPS for the quarter, topping the consensus estimate of $3.18 by $0.05. The firm had revenue of $6.87 billion during 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%. McDonald's's revenue was up 2.7% on a year-over-year basis. During the same period in the prior 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.

Insider Buying and Selling

In related news, CMO Edith Morgan Flatley sold 2,346 shares of the stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $310.00, for a total value of $727,260.00. Following the sale, the chief marketing officer now directly owns 2,905 shares of the company's stock, valued at $900,550. This represents a 44.68 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Desiree Ralls-Morrison sold 3,409 shares of the stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $290.15, for a total transaction of $989,121.35. Following the completion of 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. In the last quarter, insiders sold 12,050 shares of company stock valued at $3,556,688. Company insiders own 0.23% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on MCD. JPMorgan Chase & Co. lifted their price objective on McDonald's from $270.00 to $290.00 and gave the stock an "overweight" rating in a report on Monday, September 16th. Wells Fargo & Company raised their target price on McDonald's from $285.00 to $350.00 and gave the stock an "overweight" rating in a research note on Monday, October 21st. Baird R W cut McDonald's from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, October 23rd. Morgan Stanley raised their target price on McDonald's from $296.00 to $340.00 and gave the stock an "overweight" rating in a research note on Tuesday, October 15th. Finally, Truist Financial cut their target price on McDonald's from $350.00 to $342.00 and set a "buy" rating on the stock 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. According to data from MarketBeat, McDonald's presently has an average rating of "Moderate Buy" and a consensus target price of $321.39.

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.