Asset Management Group Inc. Decreases Holdings in McDonald’s Co. (NYSE:MCD)

Asset Management Group Inc. trimmed its position in shares of McDonald’s Co. (NYSE:MCD) by 22.2% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 819 shares of the fast-food giant’s stock after selling 234 shares during the quarter. Asset Management Group Inc.’s holdings in McDonald’s were worth $249,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of MCD. Kings Path Partners LLC bought a new position in McDonald’s during the 2nd quarter worth approximately $38,000. Hara Capital LLC bought a new position in McDonald’s during the 3rd quarter worth approximately $44,000. Peterson Financial Group Inc. bought a new position in McDonald’s during the 3rd quarter worth approximately $58,000. Opal Wealth Advisors LLC bought a new stake in shares of McDonald’s in the 2nd quarter worth approximately $59,000. Finally, Bbjs Financial Advisors LLC bought a new stake in shares of McDonald’s in the 2nd quarter worth approximately $65,000. 70.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on MCD. JPMorgan Chase & Co. lifted their price objective on McDonald’s from $270.00 to $290.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Truist Financial cut their price objective on McDonald’s from $350.00 to $342.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. Guggenheim lowered McDonald’s from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $290.00 to $285.00 in a research report on Wednesday, October 23rd. Tigress Financial lifted their price objective on McDonald’s from $355.00 to $360.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Finally, Argus upgraded McDonald’s from a “hold” rating to a “buy” rating in a research report on Tuesday, October 8th. Thirteen analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $319.46.

Insider Buying and Selling

In other McDonald’s news, EVP Marion K. Gross sold 1,498 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $286.36, for a total transaction of $428,967.28. Following the completion of the sale, the executive vice president now owns 1,560 shares of the company’s stock, valued at approximately $446,721.60. The trade was a 48.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Joseph M. Erlinger sold 1,099 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $298.57, for a total value of $328,128.43. Following the sale, the insider now directly owns 11,484 shares of the company’s stock, valued at $3,428,777.88. This represents a 8.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 34,498 shares of company stock valued at $10,381,296 over the last 90 days. Company insiders own 0.23% of the company’s stock.

McDonald’s Price Performance

MCD stock opened at $288.32 on Friday. McDonald’s Co. has a 1-year low of $243.53 and a 1-year high of $317.90. The stock has a market capitalization of $206.61 billion, a P/E ratio of 25.31, a P/E/G ratio of 3.87 and a beta of 0.74. The business has a fifty day moving average price of $299.98 and a 200-day moving average price of $277.91.

McDonald’s (NYSE:MCD) last issued its quarterly earnings data on Tuesday, October 29th. The fast-food giant reported $3.23 EPS for the quarter, topping the consensus estimate of $3.18 by $0.05. McDonald’s had a negative return on equity of 175.42% and a net margin of 31.79%. The company had revenue of $6.87 billion during the quarter, compared to analyst estimates of $6.82 billion. During the same quarter in the previous year, the company posted $3.19 earnings per share. McDonald’s’s revenue was up 2.7% compared to the same quarter last year. As a group, analysts anticipate that McDonald’s Co. will post 11.77 earnings per share for the current year.

McDonald’s Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a $1.77 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $7.08 annualized dividend and a dividend yield of 2.46%. This is a positive change from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s payout ratio is presently 58.65%.

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.