Blodgett Wealth Advisors LLC Cuts Position in McDonald’s Co. (NYSE:MCD)

Blodgett Wealth Advisors LLC decreased its position in McDonald’s Co. (NYSE:MCD) by 1.8% during the 4th quarter, Holdings Channel reports. The firm owned 2,783 shares of the fast-food giant’s stock after selling 50 shares during the quarter. McDonald’s comprises about 0.6% of Blodgett Wealth Advisors LLC’s holdings, making the stock its 25th biggest position. Blodgett Wealth Advisors LLC’s holdings in McDonald’s were worth $807,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of MCD. Legacy Investment Solutions LLC acquired a new position in McDonald’s during the 3rd quarter worth approximately $25,000. RPg Family Wealth Advisory LLC acquired a new position in shares of McDonald’s in the 3rd quarter valued at approximately $31,000. Hara Capital LLC bought a new stake in shares of McDonald’s in the 3rd quarter valued at approximately $44,000. Financial Life Planners bought a new stake in shares of McDonald’s in the 4th quarter valued at approximately $49,000. Finally, Peterson Financial Group Inc. bought a new stake in shares of McDonald’s in the 3rd quarter valued at approximately $58,000. Institutional investors and hedge funds own 70.29% of the company’s stock.

McDonald’s Stock Performance

Shares of NYSE MCD opened at $290.25 on Tuesday. The stock has a market cap of $208.00 billion, a PE ratio of 25.48, a PEG ratio of 3.83 and a beta of 0.73. The business has a fifty day moving average of $291.12 and a two-hundred day moving average of $289.94. McDonald’s Co. has a 52-week low of $243.53 and a 52-week high of $317.90.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on MCD. UBS Group upped their price objective on McDonald’s from $305.00 to $345.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Barclays upped their price objective on McDonald’s from $300.00 to $325.00 and gave the company an “overweight” rating in a report on Tuesday, October 22nd. Evercore ISI upped their target price on McDonald’s from $320.00 to $340.00 and gave the company an “outperform” rating in a report on Tuesday, October 15th. Wedbush reaffirmed an “outperform” rating and set a $295.00 target price on shares of McDonald’s in a report on Wednesday, October 23rd. Finally, Argus raised McDonald’s from a “hold” rating to a “buy” rating in a report on Tuesday, October 8th. Ten equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat.com, McDonald’s presently has an average rating of “Moderate Buy” and an average price target of $320.87.

Insider Activity at McDonald’s

In related news, insider Joseph M. Erlinger sold 300 shares of McDonald’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $280.75, for a total value of $84,225.00. Following the completion of the sale, the insider now directly owns 7,887 shares in the company, valued at $2,214,275.25. This trade represents a 3.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Marion K. Gross sold 1,499 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $290.95, for a total value of $436,134.05. Following the transaction, the executive vice president now owns 1,560 shares of the company’s stock, valued at $453,882. The trade was a 49.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,406 shares of company stock valued at $2,150,857 over the last ninety days. 0.23% of the stock is owned by insiders.

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.