McDonald’s Co. (NYSE:MCD) Holdings Cut by Ritholtz Wealth Management

Ritholtz Wealth Management trimmed its stake in shares of McDonald’s Co. (NYSE:MCD) by 1.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 12,418 shares of the fast-food giant’s stock after selling 149 shares during the quarter. Ritholtz Wealth Management’s holdings in McDonald’s were worth $3,781,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Gateway Investment Advisers LLC lifted its position in McDonald’s by 5.0% in the 3rd quarter. Gateway Investment Advisers LLC now owns 171,966 shares of the fast-food giant’s stock valued at $52,365,000 after purchasing an additional 8,136 shares during the last quarter. Code Waechter LLC acquired a new position in shares of McDonald’s during the third quarter worth approximately $300,000. Atwater Malick LLC increased its position in McDonald’s by 0.6% in the 3rd quarter. Atwater Malick LLC now owns 38,448 shares of the fast-food giant’s stock valued at $11,708,000 after acquiring an additional 225 shares during the period. FARMERS & MERCHANTS TRUST Co OF LONG BEACH raised its stake in McDonald’s by 37.0% during the 3rd quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 2,561 shares of the fast-food giant’s stock valued at $780,000 after acquiring an additional 691 shares in the last quarter. Finally, Fiduciary Financial Group LLC boosted its position in McDonald’s by 4.8% during the 3rd quarter. Fiduciary Financial Group LLC now owns 1,771 shares of the fast-food giant’s stock worth $535,000 after acquiring an additional 81 shares during the period. Institutional investors own 70.29% of the company’s stock.

Insider Buying and Selling

In other news, insider Joseph M. Erlinger sold 1,098 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $288.70, for a total transaction of $316,992.60. Following the transaction, the insider now owns 12,583 shares of the company’s stock, valued at approximately $3,632,712.10. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Joseph M. Erlinger sold 1,098 shares of the firm’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $288.70, for a total value of $316,992.60. Following the transaction, the insider now directly owns 12,583 shares in the company, valued at approximately $3,632,712.10. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Christopher J. Kempczinski sold 9,291 shares of the business’s stock in a transaction on Friday, September 27th. The stock was sold at an average price of $305.00, for a total transaction of $2,833,755.00. Following the transaction, the chief executive officer now directly owns 43,256 shares of the company’s stock, valued at approximately $13,193,080. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 31,751 shares of company stock worth $9,493,973. Corporate insiders own 0.23% of the company’s stock.

Wall Street Analysts Forecast Growth

MCD has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of McDonald’s from $295.00 to $290.00 and set a “buy” rating for the company in a report on Tuesday, July 30th. Truist Financial decreased their price objective on shares of McDonald’s from $300.00 to $295.00 and set a “buy” rating for the company in a report on Tuesday, July 30th. Jefferies Financial Group boosted their target price on McDonald’s from $310.00 to $330.00 and gave the stock a “buy” rating in a report on Monday, September 9th. Bank of America decreased their price target on McDonald’s from $288.00 to $278.00 and set a “neutral” rating for the company in a research note on Tuesday, July 30th. Finally, UBS Group boosted 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. Ten analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $310.50.

McDonald’s Trading Up 0.3 %

Shares of NYSE:MCD opened at $305.04 on Friday. The business has a fifty day simple moving average of $290.21 and a 200 day simple moving average of $272.56. McDonald’s Co. has a 1 year low of $243.53 and a 1 year high of $306.96. The firm has a market cap of $218.82 billion, a price-to-earnings ratio of 26.69, a P/E/G ratio of 4.05 and a beta of 0.73.

McDonald’s (NYSE:MCD) last announced its quarterly earnings results on Monday, July 29th. The fast-food giant reported $2.97 EPS for the quarter, missing the consensus estimate of $3.07 by ($0.10). The firm had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $6.62 billion. McDonald’s had a net margin of 32.25% and a negative return on equity of 178.68%. The company’s quarterly revenue was down .1% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.17 EPS. On average, sell-side analysts forecast that McDonald’s Co. will post 11.71 EPS for the current year.

McDonald’s Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a dividend of $1.77 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.32%. This is an increase from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s dividend payout ratio (DPR) is currently 58.44%.

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.