Cyndeo Wealth Partners LLC Boosts Stake in McDonald’s Co. (NYSE:MCD)

Cyndeo Wealth Partners LLC increased its position in shares of McDonald’s Co. (NYSE:MCD) by 4.8% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 26,081 shares of the fast-food giant’s stock after buying an additional 1,200 shares during the quarter. Cyndeo Wealth Partners LLC’s holdings in McDonald’s were worth $7,942,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. Legal & General Group Plc raised its holdings in shares of McDonald’s by 3.2% in the second quarter. Legal & General Group Plc now owns 6,149,080 shares of the fast-food giant’s stock valued at $1,567,030,000 after buying an additional 188,888 shares during the last quarter. Capital Research Global Investors increased its holdings in shares of McDonald’s by 66.9% in the first quarter. Capital Research Global Investors now owns 5,471,007 shares of the fast-food giant’s stock valued at $1,542,550,000 after purchasing an additional 2,193,769 shares during the period. Ameriprise Financial Inc. lifted its holdings in shares of McDonald’s by 8.0% during the second quarter. Ameriprise Financial Inc. now owns 4,761,625 shares of the fast-food giant’s stock worth $1,216,677,000 after purchasing an additional 354,196 shares during the period. Capital World Investors grew its position in McDonald’s by 39.7% in the 1st quarter. Capital World Investors now owns 3,565,398 shares of the fast-food giant’s stock valued at $1,005,264,000 after buying an additional 1,012,534 shares during the last quarter. Finally, Fayez Sarofim & Co grew its position in McDonald’s by 0.4% in the 1st quarter. Fayez Sarofim & Co now owns 2,273,354 shares of the fast-food giant’s stock valued at $640,972,000 after buying an additional 8,475 shares during the last quarter. Institutional investors and hedge funds own 70.29% of the company’s stock.

Insiders Place Their Bets

In other news, insider Joseph M. Erlinger sold 1,099 shares of McDonald’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $260.00, for a total value of $285,740.00. Following the completion of the sale, the insider now owns 13,681 shares of the company’s stock, valued at $3,557,060. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Christopher J. Kempczinski sold 11,727 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 49,885 shares of the company’s stock, valued at approximately $14,966,996.55. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Joseph M. Erlinger sold 1,099 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $260.00, for a total transaction of $285,740.00. Following the transaction, the insider now directly owns 13,681 shares of the company’s stock, valued at $3,557,060. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 34,097 shares of company stock valued at $10,221,233 in the last quarter. 0.23% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have recently commented on MCD shares. Loop Capital restated a “buy” rating on shares of McDonald’s in a research note on Friday. Citigroup raised their price objective on shares of McDonald’s from $301.00 to $317.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. 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 research report on Monday, September 9th. Stifel Nicolaus reduced their price target on McDonald’s from $285.00 to $265.00 and set a “hold” rating for the company in a report on Monday, July 22nd. Finally, TD Cowen increased their price objective on McDonald’s from $280.00 to $300.00 and gave the stock a “hold” rating in a research report on Wednesday. Ten investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat.com, McDonald’s presently has a consensus rating of “Moderate Buy” and an average target price of $315.69.

McDonald’s Stock Up 0.6 %

MCD opened at $316.56 on Friday. The business’s fifty day simple moving average is $294.62 and its 200 day simple moving average is $273.70. McDonald’s Co. has a 52 week low of $243.53 and a 52 week high of $317.18. The firm has a market cap of $228.14 billion, a P/E ratio of 26.87, a PEG ratio of 4.05 and a beta of 0.73.

McDonald’s (NYSE:MCD) last issued its quarterly earnings results on Monday, July 29th. The fast-food giant reported $2.97 EPS for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.10). The firm had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.62 billion. McDonald’s had a negative return on equity of 178.68% and a net margin of 32.25%. The business’s quarterly revenue was down .1% compared to the same quarter last year. During the same quarter last year, the firm earned $3.17 earnings per share. As a group, equities analysts expect that McDonald’s Co. will post 11.71 EPS for the current fiscal year.

McDonald’s Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a $1.77 dividend. The ex-dividend date is Monday, December 2nd. This is an increase from McDonald’s’s previous quarterly dividend of $1.67. This represents a $7.08 annualized dividend and a yield of 2.24%. McDonald’s’s payout ratio is 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.