Silverlake Wealth Management LLC Sells 644 Shares of McDonald’s Co. (NYSE:MCD)

Silverlake Wealth Management LLC trimmed its stake in shares of McDonald’s Co. (NYSE:MCD) by 22.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,189 shares of the fast-food giant’s stock after selling 644 shares during the quarter. Silverlake Wealth Management LLC’s holdings in McDonald’s were worth $635,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Legacy Investment Solutions LLC purchased a new position in shares of McDonald’s in the 3rd quarter worth about $25,000. RPg Family Wealth Advisory LLC bought a new position in McDonald’s during the 3rd quarter valued at approximately $31,000. Hara Capital LLC purchased a new position in shares of McDonald’s in the 3rd quarter worth $44,000. Financial Life Planners purchased a new position in McDonald’s during the fourth quarter valued at $49,000. Finally, Peterson Financial Group Inc. bought a new stake in McDonald’s during the third quarter valued at about $58,000. 70.29% of the stock is currently owned by institutional investors.

McDonald’s Stock Performance

MCD opened at $290.00 on Wednesday. McDonald’s Co. has a twelve month low of $243.53 and a twelve month high of $317.90. The firm’s 50-day simple moving average is $291.00 and its 200-day simple moving average is $290.15. The firm has a market cap of $207.82 billion, a price-to-earnings ratio of 25.46, a PEG ratio of 3.83 and a beta of 0.74.

Insider Activity at McDonald’s

In other McDonald’s news, EVP Desiree Ralls-Morrison sold 3,409 shares of the firm’s stock in a transaction on 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 owns 9,675 shares of the company’s stock, valued at $2,807,201.25. This trade represents a 26.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Marion K. Gross sold 1,499 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $290.95, for a total value 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 trade represents a 49.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,406 shares of company stock worth $2,150,857 in the last ninety days. Company insiders own 0.23% of the company’s stock.

Analyst Ratings Changes

MCD has been the topic of several analyst reports. Truist Financial reduced their price objective 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. Baird R W downgraded shares of McDonald’s from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Wells Fargo & Company upped their price target on McDonald’s from $285.00 to $350.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Guggenheim downgraded McDonald’s from a “buy” rating to a “neutral” rating and cut their target price for the company from $290.00 to $285.00 in a research report on Wednesday, October 23rd. Finally, Citigroup upped their target price on McDonald’s from $334.00 to $336.00 and gave the company a “buy” rating in a research report on Tuesday, January 28th. Eleven analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, McDonald’s currently has an average rating of “Moderate Buy” and a consensus price target of $319.58.

McDonald’s Company Profile

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.