McDonald’s Co. (NYSE:MCD) Shares Sold by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC lessened its position in shares of McDonald’s Co. (NYSE:MCD) by 7.0% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 365,663 shares of the fast-food giant’s stock after selling 27,591 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in McDonald’s were worth $111,348,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of MCD. Legal & General Group Plc boosted its holdings in McDonald’s by 3.2% in the second quarter. Legal & General Group Plc now owns 6,149,080 shares of the fast-food giant’s stock valued at $1,567,030,000 after purchasing an additional 188,888 shares in the last quarter. Capital Research Global Investors lifted its position in shares of McDonald’s by 66.9% during the 1st quarter. Capital Research Global Investors now owns 5,471,007 shares of the fast-food giant’s stock worth $1,542,550,000 after buying an additional 2,193,769 shares during the last quarter. Ameriprise Financial Inc. grew its position in shares of McDonald’s by 8.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 4,761,625 shares of the fast-food giant’s stock valued at $1,216,677,000 after buying an additional 354,196 shares during the last quarter. Capital World Investors lifted its position in McDonald’s by 39.7% in the first quarter. Capital World Investors now owns 3,565,398 shares of the fast-food giant’s stock valued at $1,005,264,000 after acquiring an additional 1,012,534 shares during the last quarter. Finally, International Assets Investment Management LLC grew its holdings in shares of McDonald’s by 31,151.1% during the third quarter. International Assets Investment Management LLC now owns 2,319,142 shares of the fast-food giant’s stock worth $706,202,000 after purchasing an additional 2,311,721 shares during the last quarter. 70.29% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at McDonald’s

In related news, insider Joseph M. Erlinger sold 1,098 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $288.70, for a total value of $316,992.60. Following the completion of the transaction, the insider now owns 12,583 shares of the company’s stock, valued at approximately $3,632,712.10. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CMO Edith Morgan Flatley sold 2,346 shares of the firm’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $310.00, for a total transaction of $727,260.00. Following the sale, the chief marketing officer now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Joseph M. Erlinger sold 1,098 shares of McDonald’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $288.70, for a total value of $316,992.60. Following the completion of the sale, the insider now directly owns 12,583 shares of the company’s stock, valued at approximately $3,632,712.10. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 34,097 shares of company stock worth $10,256,818. 0.23% of the stock is owned by insiders.

McDonald’s Price Performance

MCD traded down $8.97 during trading on Friday, reaching $292.61. 8,863,234 shares of the stock were exchanged, compared to its average volume of 3,475,984. McDonald’s Co. has a 1 year low of $243.53 and a 1 year high of $317.90. The company has a market capitalization of $210.88 billion, a price-to-earnings ratio of 24.83, a P/E/G ratio of 4.13 and a beta of 0.73. The business’s 50 day moving average price is $297.78 and its two-hundred day moving average price is $274.88.

McDonald’s (NYSE:MCD) last posted its earnings results on Monday, July 29th. The fast-food giant reported $2.97 earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.62 billion. During the same quarter last year, the business posted $3.17 earnings per share. The business’s revenue was down .1% compared to the same quarter last year. On average, analysts anticipate that McDonald’s Co. will post 11.73 EPS for the current year.

McDonald’s Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a $1.77 dividend. 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 2.42%. This is a positive change from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s dividend payout ratio is presently 60.10%.

Analysts Set New Price Targets

MCD has been the subject of a number of research analyst reports. JPMorgan Chase & Co. upped their target price 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 increased their price objective on McDonald’s from $295.00 to $350.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Robert W. Baird cut shares of McDonald’s from an “outperform” rating to a “neutral” rating and cut their target price for the company from $320.00 to $290.00 in a report on Wednesday. TD Cowen reiterated a “hold” rating and set a $300.00 price target on shares of McDonald’s in a research note on Wednesday. Finally, Baird R W lowered shares of McDonald’s from a “strong-buy” rating to a “hold” rating in a research note on Wednesday. Thirteen research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, McDonald’s currently has an average rating of “Moderate Buy” and an average price target of $318.22.

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.