E&G Advisors LP Sells 200 Shares of McDonald’s Co. (NYSE:MCD)

E&G Advisors LP cut its position in shares of McDonald’s Co. (NYSE:MCD) by 13.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,309 shares of the fast-food giant’s stock after selling 200 shares during the quarter. E&G Advisors LP’s holdings in McDonald’s were worth $398,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Dixon Mitchell Investment Counsel Inc. acquired a new stake in McDonald’s in the 1st quarter valued at $28,000. Kings Path Partners LLC bought a new stake in McDonald’s in the second quarter valued at approximately $38,000. Keener Financial Planning LLC boosted its stake 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 worth $50,000 after acquiring an additional 43 shares during the period. Opal Wealth Advisors LLC acquired a new position in shares of McDonald’s during the 2nd quarter worth approximately $59,000. Finally, Bbjs Financial Advisors LLC bought a new stake in McDonald’s in the 2nd quarter valued at $65,000. Institutional investors and hedge funds own 70.29% of the company’s stock.

Insider Buying and Selling

In related news, CMO Edith Morgan Flatley sold 2,346 shares of the stock in a transaction dated 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 sale, the chief marketing officer now directly owns 2,905 shares in the company, valued at $900,550. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, insider Joseph M. Erlinger sold 1,098 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $288.70, for a total value of $316,992.60. Following the sale, the insider now owns 12,583 shares in the company, valued at $3,632,712.10. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CMO Edith Morgan Flatley sold 2,346 shares of the stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $310.00, for a total transaction of $727,260.00. Following the sale, the chief marketing officer now directly owns 2,905 shares in the company, valued at $900,550. This trade 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 worth $10,221,233 in the last quarter. 0.23% of the stock is owned by insiders.

McDonald’s Stock Up 0.6 %

McDonald’s stock opened at $316.56 on Friday. The firm has a 50 day moving average price of $294.62 and a 200-day moving average price of $273.70. McDonald’s Co. has a twelve month low of $243.53 and a twelve month high of $317.18. The company has a market capitalization of $228.14 billion, a P/E ratio of 26.87, a P/E/G ratio of 4.05 and a beta of 0.73.

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

McDonald’s Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a dividend of $1.77 per share. This is an increase from McDonald’s’s previous quarterly dividend of $1.67. The ex-dividend date is Monday, December 2nd. This represents a $7.08 dividend on an annualized basis and a yield of 2.24%. McDonald’s’s dividend payout ratio (DPR) is presently 60.10%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Truist Financial lifted 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, October 15th. JPMorgan Chase & Co. upped their price target on shares of McDonald’s from $270.00 to $290.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. TD Cowen raised their price objective on shares of McDonald’s from $280.00 to $300.00 and gave the stock a “hold” rating in a research report on Wednesday. UBS Group upped their target price on McDonald’s from $305.00 to $345.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Finally, Wedbush reissued an “outperform” rating and set a $295.00 price target on shares of McDonald’s in a report on Monday, July 29th. Ten analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat, McDonald’s presently has a consensus rating of “Moderate Buy” and a consensus target price of $315.69.

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.