Trueblood Wealth Management LLC Trims Stake in McDonald’s Co. (NYSE:MCD)

Trueblood Wealth Management LLC lowered its holdings in McDonald’s Co. (NYSE:MCD) by 18.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,196 shares of the fast-food giant’s stock after selling 1,198 shares during the quarter. McDonald’s accounts for 0.7% of Trueblood Wealth Management LLC’s holdings, making the stock its 29th largest holding. Trueblood Wealth Management LLC’s holdings in McDonald’s were worth $1,506,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. American Century Companies Inc. grew its stake in shares of McDonald’s by 1.9% in the second quarter. American Century Companies Inc. now owns 48,190 shares of the fast-food giant’s stock valued at $12,281,000 after buying an additional 915 shares in the last quarter. Thrivent Financial for Lutherans grew its stake in shares of McDonald’s by 10.1% in the second quarter. Thrivent Financial for Lutherans now owns 195,638 shares of the fast-food giant’s stock valued at $49,856,000 after buying an additional 17,995 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its stake in shares of McDonald’s by 10.4% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 68,939 shares of the fast-food giant’s stock valued at $17,568,000 after buying an additional 6,506 shares in the last quarter. ProShare Advisors LLC grew its stake in shares of McDonald’s by 12.0% in the second quarter. ProShare Advisors LLC now owns 845,870 shares of the fast-food giant’s stock valued at $215,562,000 after buying an additional 90,349 shares in the last quarter. Finally, Holderness Investments Co. grew its stake in shares of McDonald’s by 0.4% in the second quarter. Holderness Investments Co. now owns 12,595 shares of the fast-food giant’s stock valued at $3,210,000 after buying an additional 45 shares in the last quarter. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on MCD. Baird R W cut McDonald’s from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Evercore ISI boosted their target price on McDonald’s from $320.00 to $340.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 15th. Loop Capital reissued a “buy” rating and set a $342.00 target price on shares of McDonald’s in a research note on Friday, January 3rd. Barclays boosted their target price on McDonald’s from $300.00 to $325.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 22nd. Finally, Wells Fargo & Company boosted 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. Ten analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $321.39.

Insider Buying and Selling at McDonald’s

In other news, EVP Marion K. Gross sold 1,499 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $290.95, for a total transaction of $436,134.05. Following the completion of the transaction, the executive vice president now directly owns 1,560 shares of the company’s stock, valued at approximately $453,882. This represents a 49.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Desiree Ralls-Morrison sold 3,409 shares of the stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $290.15, for a total value of $989,121.35. Following the transaction, the executive vice president now directly owns 9,675 shares of the company’s stock, valued at approximately $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 sold a total of 9,704 shares of company stock valued at $2,829,428 in the last ninety days. Insiders own 0.23% of the company’s stock.

McDonald’s Stock Performance

McDonald’s stock opened at $280.90 on Monday. McDonald’s Co. has a fifty-two week low of $243.53 and a fifty-two week high of $317.90. The company has a market capitalization of $201.30 billion, a P/E ratio of 24.66, a PEG ratio of 3.67 and a beta of 0.73. The stock has a 50-day simple moving average of $292.54 and a 200-day simple moving average of $287.24.

McDonald’s (NYSE:MCD) last posted its 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 business had revenue of $6.87 billion during the quarter, compared to the consensus estimate of $6.82 billion. McDonald’s had a negative return on equity of 175.42% and a net margin of 31.79%. The business’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the business earned $3.19 EPS. As a group, analysts forecast that McDonald’s Co. will post 11.73 earnings per share for the current year.

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.