E&G Advisors LP Reduces Position in McDonald’s Co. (NYSE:MCD)

E&G Advisors LP cut its stake in McDonald’s Co. (NYSE:MCD) by 7.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,209 shares of the fast-food giant’s stock after selling 100 shares during the period. E&G Advisors LP’s holdings in McDonald’s were worth $350,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in MCD. Geode Capital Management LLC raised its stake in McDonald’s by 1.4% during the third quarter. Geode Capital Management LLC now owns 15,916,980 shares of the fast-food giant’s stock worth $4,833,510,000 after acquiring an additional 220,365 shares during the period. Wellington Management Group LLP lifted its stake in McDonald’s by 0.9% during the third quarter. Wellington Management Group LLP now owns 15,082,894 shares of the fast-food giant’s stock worth $4,592,892,000 after purchasing an additional 128,800 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of McDonald’s by 0.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,564,359 shares of the fast-food giant’s stock valued at $1,694,403,000 after purchasing an additional 49,106 shares in the last quarter. Janus Henderson Group PLC boosted its stake in McDonald’s by 0.7% during the 3rd quarter. Janus Henderson Group PLC now owns 2,765,049 shares of the fast-food giant’s stock worth $841,966,000 after acquiring an additional 19,867 shares during the last quarter. Finally, International Assets Investment Management LLC grew its holdings in shares of McDonald’s by 31,151.1% during the third quarter. International Assets Investment Management LLC now owns 2,319,142 shares of the fast-food giant’s stock worth $706,202,000 after buying an additional 2,311,721 shares in the last quarter. 70.29% of the stock is owned by institutional investors and hedge funds.

McDonald’s Price Performance

MCD opened at $290.25 on Tuesday. The firm has a market capitalization of $208.00 billion, a price-to-earnings ratio of 25.48, a PEG ratio of 3.83 and a beta of 0.73. McDonald’s Co. has a fifty-two week low of $243.53 and a fifty-two week high of $317.90. The company’s 50 day moving average price is $291.12 and its two-hundred day moving average price is $289.94.

Insiders Place Their Bets

In related news, EVP Marion K. Gross sold 1,499 shares of McDonald’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $290.95, for a total value of $436,134.05. Following the completion of the sale, 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Joseph M. Erlinger sold 1,099 shares of McDonald’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $291.10, for a total transaction of $319,918.90. Following the completion of the sale, the insider now owns 8,187 shares in the company, valued at approximately $2,383,235.70. This represents a 11.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,406 shares of company stock worth $2,150,857. Insiders own 0.23% of the company’s stock.

Analysts Set New Price Targets

MCD has been the topic of a number of analyst reports. Truist Financial reduced their price objective on shares of McDonald’s from $350.00 to $342.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. Wedbush reissued an “outperform” rating and issued a $295.00 target price on shares of McDonald’s in a research report on Wednesday, October 23rd. Barclays raised their price target on McDonald’s from $300.00 to $325.00 and gave the company an “overweight” rating in a research report on Tuesday, October 22nd. TD Cowen reaffirmed a “hold” rating and set a $300.00 price objective on shares of McDonald’s in a research report on Tuesday, October 29th. Finally, Baird R W cut shares of McDonald’s from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Ten research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $320.87.

McDonald’s 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.