Verus Capital Partners LLC Sells 668 Shares of McDonald’s Co. (NYSE:MCD)

Verus Capital Partners LLC lowered its position in McDonald’s Co. (NYSE:MCD) by 6.1% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 10,318 shares of the fast-food giant’s stock after selling 668 shares during the quarter. Verus Capital Partners LLC’s holdings in McDonald’s were worth $3,142,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Hantz Financial Services Inc. bought a new position in shares of McDonald’s in the second quarter worth $6,612,000. Kennebec Savings Bank purchased a new position in McDonald’s during the 3rd quarter valued at about $1,394,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in shares of McDonald’s by 58.9% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 138,102 shares of the fast-food giant’s stock valued at $35,194,000 after buying an additional 51,210 shares during the period. U.S. Capital Wealth Advisors LLC boosted its position in shares of McDonald’s by 6.5% in the third quarter. U.S. Capital Wealth Advisors LLC now owns 49,186 shares of the fast-food giant’s stock valued at $14,978,000 after acquiring an additional 2,997 shares during the period. Finally, Quintet Private Bank Europe S.A. grew its stake in McDonald’s by 17.1% during the third quarter. Quintet Private Bank Europe S.A. now owns 49,318 shares of the fast-food giant’s stock valued at $15,018,000 after acquiring an additional 7,200 shares in the last quarter. 70.29% of the stock is currently owned by institutional investors.

Insider Buying and Selling at McDonald’s

In other news, CEO Christopher J. Kempczinski sold 11,727 shares of the firm’s stock in a transaction dated 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 completion of 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other McDonald’s news, EVP Marion K. Gross sold 1,499 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $294.51, for a total value of $441,470.49. Following the completion of the transaction, the executive vice president now owns 1,560 shares in the company, valued at approximately $459,435.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Christopher J. Kempczinski sold 11,727 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were 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 in the company, valued at approximately $14,966,996.55. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 35,596 shares of company stock valued at $10,698,289. 0.23% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have commented on MCD. Barclays raised their price target on shares of McDonald’s from $300.00 to $325.00 and gave the company an “overweight” rating in a report on Tuesday, October 22nd. Tigress Financial boosted their target price on McDonald’s from $355.00 to $360.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Morgan Stanley lifted their price target on McDonald’s from $296.00 to $340.00 and gave the company an “overweight” rating in a research report on Tuesday, October 15th. Truist Financial decreased their price objective 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, TD Cowen reissued a “hold” rating and issued a $300.00 price target on shares of McDonald’s in a research note on Tuesday, October 29th. Thirteen investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $319.46.

McDonald’s Trading Up 0.9 %

Shares of NYSE:MCD opened at $301.53 on Tuesday. The company has a market cap of $216.30 billion, a price-to-earnings ratio of 26.47, a price-to-earnings-growth ratio of 3.98 and a beta of 0.74. McDonald’s Co. has a 12 month low of $243.53 and a 12 month high of $317.90. The company has a 50-day moving average price of $299.34 and a 200-day moving average price of $276.82.

McDonald’s (NYSE:MCD) last released its quarterly earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 EPS for the quarter, beating analysts’ consensus estimates of $3.18 by $0.05. The business 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 178.99% and a net margin of 31.79%. McDonald’s’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.19 EPS. As a group, research analysts forecast that McDonald’s Co. will post 11.77 EPS 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. 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 yield of 2.35%. This is a boost from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s payout ratio is 58.65%.

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.