Baldwin Investment Management LLC Sells 670 Shares of McDonald’s Co. (NYSE:MCD)

Baldwin Investment Management LLC lowered its holdings in McDonald’s Co. (NYSE:MCD) by 9.4% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 6,466 shares of the fast-food giant’s stock after selling 670 shares during the period. Baldwin Investment Management LLC’s holdings in McDonald’s were worth $1,969,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in MCD. Kings Path Partners LLC bought a new stake in McDonald’s in the second quarter valued at $38,000. Hara Capital LLC purchased a new stake in shares of McDonald’s in the 3rd quarter worth about $44,000. Peterson Financial Group Inc. bought a new stake in shares of McDonald’s during the 3rd quarter valued at about $58,000. Opal Wealth Advisors LLC purchased a new position in shares of McDonald’s during the second quarter valued at about $59,000. Finally, Bbjs Financial Advisors LLC bought a new position in McDonald’s in the second quarter worth about $65,000. 70.29% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other McDonald’s news, EVP Marion K. Gross sold 1,498 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $286.36, for a total value of $428,967.28. Following the completion of the transaction, the executive vice president now directly owns 1,560 shares in the company, valued at $446,721.60. This represents a 48.99 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Joseph M. Erlinger sold 1,099 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $292.50, for a total transaction of $321,457.50. Following the completion of the transaction, the insider now directly owns 9,286 shares in the company, valued at $2,716,155. This trade represents a 10.58 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 35,597 shares of company stock valued at $10,702,754. 0.23% of the stock is owned by corporate insiders.

McDonald’s Trading Up 0.0 %

Shares of MCD stock opened at $296.31 on Wednesday. The stock has a market capitalization of $212.34 billion, a P/E ratio of 26.01, a P/E/G ratio of 3.94 and a beta of 0.74. The firm’s 50 day moving average is $299.90 and its 200 day moving average is $278.55. McDonald’s Co. has a 12-month low of $243.53 and a 12-month high of $317.90.

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, equities analysts predict that McDonald’s Co. will post 11.77 earnings per share for the current year.

McDonald’s Increases Dividend

The business 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 $1.77 dividend. This is a boost from McDonald’s’s previous quarterly dividend of $1.67. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $7.08 dividend on an annualized basis and a yield of 2.39%. McDonald’s’s dividend payout ratio is presently 58.65%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on MCD shares. Robert W. Baird downgraded McDonald’s from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $320.00 to $290.00 in a report on Wednesday, October 23rd. Barclays upped their price target on McDonald’s from $300.00 to $325.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. raised their price objective on McDonald’s from $270.00 to $290.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Truist Financial reduced their target price on shares of McDonald’s from $350.00 to $342.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. Finally, Wedbush reissued an “outperform” rating and set a $295.00 price target on shares of McDonald’s in a research report on Wednesday, October 23rd. Thirteen research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, McDonald’s has a consensus rating of “Moderate Buy” and a consensus target price of $319.46.

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.