McDonald’s Co. (NYSE:MCD) Stock Holdings Lowered by Fmr LLC

Fmr LLC decreased its holdings in shares of McDonald’s Co. (NYSE:MCD) by 1.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,385,322 shares of the fast-food giant’s stock after selling 81,756 shares during the period. Fmr LLC’s holdings in McDonald’s were worth $1,335,375,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the company. Elios Financial Group Inc. bought a new position in McDonald’s during the third quarter valued at approximately $1,053,000. West Tower Group LLC bought a new position in shares of McDonald’s in the third quarter valued at about $305,000. Capital Square LLC increased its position in McDonald’s by 3.6% in the third quarter. Capital Square LLC now owns 1,430 shares of the fast-food giant’s stock worth $435,000 after purchasing an additional 50 shares during the period. Wiser Advisor Group LLC grew its position in shares of McDonald’s by 1.8% during the 3rd quarter. Wiser Advisor Group LLC now owns 4,279 shares of the fast-food giant’s stock worth $1,303,000 after buying an additional 74 shares during the period. Finally, Private Trust Co. NA grew its position in shares of McDonald’s by 11.3% in the 3rd quarter. Private Trust Co. NA now owns 18,516 shares of the fast-food giant’s stock valued at $5,638,000 after purchasing an additional 1,877 shares during the period. 70.29% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at McDonald’s

In other news, CEO Christopher J. Kempczinski sold 11,727 shares of the company’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $300.03, for a total transaction of $3,518,451.81. Following the sale, the chief executive officer now owns 49,885 shares of the company’s stock, valued at approximately $14,966,996.55. This represents a 19.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 transaction, the insider now owns 9,286 shares of the company’s stock, valued at approximately $2,716,155. The trade was a 10.58 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 35,597 shares of company stock valued at $10,702,754 in the last ninety days. 0.23% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

MCD has been the topic of a number of analyst reports. Robert W. Baird cut McDonald’s from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $320.00 to $290.00 in a research note on Wednesday, October 23rd. Truist Financial cut their price target on McDonald’s from $350.00 to $342.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft lowered their target price on McDonald’s from $295.00 to $290.00 and set a “buy” rating for the company in a report on Tuesday, July 30th. Evercore ISI upped their price target on McDonald’s from $320.00 to $340.00 and gave the stock an “outperform” rating in a report on Tuesday, October 15th. Finally, UBS Group upped their price target on McDonald’s from $305.00 to $345.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Thirteen equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $319.46.

McDonald’s Price Performance

Shares of NYSE MCD opened at $296.31 on Wednesday. The stock has a market capitalization of $212.34 billion, a P/E ratio of 26.01, a PEG ratio of 3.94 and a beta of 0.74. The business’s 50 day moving average is $299.90 and its two-hundred day moving average is $278.55. McDonald’s Co. has a 1-year low of $243.53 and a 1-year high of $317.90.

McDonald’s (NYSE:MCD) last posted its earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share for the quarter, topping analysts’ consensus estimates of $3.18 by $0.05. The company had revenue of $6.87 billion during the quarter, compared to analyst estimates of $6.82 billion. McDonald’s had a negative return on equity of 175.42% and a net margin of 31.79%. McDonald’s’s revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.19 earnings per share. As a group, equities research analysts anticipate that McDonald’s Co. will post 11.77 earnings per share for the current fiscal 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 dividend of $1.77 per share. 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 2.39%. The ex-dividend date is Monday, December 2nd. McDonald’s’s dividend payout ratio (DPR) is currently 58.65%.

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.