Fulton Breakefield Broenniman LLC Has $22.13 Million Position in McDonald’s Co. (NYSE:MCD)

Fulton Breakefield Broenniman LLC lessened its stake in McDonald’s Co. (NYSE:MCD) by 1.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 72,676 shares of the fast-food giant’s stock after selling 1,366 shares during the period. McDonald’s comprises about 1.5% of Fulton Breakefield Broenniman LLC’s portfolio, making the stock its 20th biggest position. Fulton Breakefield Broenniman LLC’s holdings in McDonald’s were worth $22,131,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Dixon Mitchell Investment Counsel Inc. bought a new stake in McDonald’s during the first quarter valued at $28,000. Kings Path Partners LLC acquired a new position in shares of McDonald’s in the 2nd quarter valued at about $38,000. Keener Financial Planning LLC boosted its position in shares of McDonald’s by 32.3% during the 1st quarter. Keener Financial Planning LLC now owns 176 shares of the fast-food giant’s stock valued at $50,000 after purchasing an additional 43 shares in the last quarter. Opal Wealth Advisors LLC bought a new stake in shares of McDonald’s during the 2nd quarter valued at about $59,000. Finally, Redmont Wealth Advisors LLC bought a new stake in McDonald’s in the first quarter worth approximately $69,000. 70.29% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Citigroup increased their price target on McDonald’s from $301.00 to $317.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Stifel Nicolaus cut their target price on shares of McDonald’s from $285.00 to $265.00 and set a “hold” rating on the stock in a research note on Monday, July 22nd. Guggenheim lifted their price target on shares of McDonald’s from $280.00 to $290.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Truist Financial increased their price objective on shares of McDonald’s from $295.00 to $350.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Jefferies Financial Group boosted their target price on McDonald’s from $310.00 to $330.00 and gave the company a “buy” rating in a research report on Monday, September 9th. Ten equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $315.69.

Insider Activity

In other news, CMO Edith Morgan Flatley sold 2,346 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $310.00, for a total transaction of $727,260.00. Following the completion of the sale, the chief marketing officer now owns 2,905 shares in the company, valued at $900,550. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CMO Edith Morgan Flatley sold 2,346 shares of the stock in a transaction on Monday, October 14th. The stock was sold at an average price of $310.00, for a total transaction of $727,260.00. Following the completion of the transaction, the chief marketing officer now owns 2,905 shares in the company, valued at approximately $900,550. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Christopher J. Kempczinski sold 11,727 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $300.03, for a total value of $3,518,451.81. Following the completion of the sale, the chief executive officer now owns 49,885 shares in the company, valued at $14,966,996.55. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,097 shares of company stock valued at $10,221,233 in the last three months. Company insiders own 0.23% of the company’s stock.

McDonald’s Stock Down 0.1 %

Shares of NYSE MCD opened at $312.93 on Thursday. The stock’s 50 day moving average price is $292.77 and its 200-day moving average price is $273.19. McDonald’s Co. has a twelve month low of $243.53 and a twelve month high of $315.36. The company has a market capitalization of $225.52 billion, a PE ratio of 26.56, a PEG ratio of 4.05 and a beta of 0.73.

McDonald’s (NYSE:MCD) last announced its earnings results on Monday, July 29th. The fast-food giant reported $2.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.07 by ($0.10). The business had revenue of $6.49 billion for the quarter, compared to analysts’ expectations 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 revenue for the quarter was down .1% compared to the same quarter last year. During the same period in the prior year, the business earned $3.17 earnings per share. As a group, research analysts expect that McDonald’s Co. will post 11.71 EPS for the current fiscal year.

McDonald’s Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a $1.77 dividend. This is a positive change from McDonald’s’s previous quarterly dividend of $1.67. The ex-dividend date is Monday, December 2nd. This represents a $7.08 annualized dividend and a yield of 2.26%. McDonald’s’s payout ratio is currently 60.10%.

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.