Stockman Wealth Management Inc. Has $589,000 Stock Holdings in McDonald’s Co. (NYSE:MCD)

Stockman Wealth Management Inc. decreased its position in McDonald’s Co. (NYSE:MCD) by 15.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,935 shares of the fast-food giant’s stock after selling 348 shares during the period. Stockman Wealth Management Inc.’s holdings in McDonald’s were worth $589,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Maiden Cove Capital LLC acquired a new position in McDonald’s in the 3rd quarter valued at approximately $426,000. Tyler Stone Wealth Management grew its stake in shares of McDonald’s by 108.5% in the 3rd quarter. Tyler Stone Wealth Management now owns 5,201 shares of the fast-food giant’s stock valued at $1,584,000 after purchasing an additional 2,707 shares during the period. Baker Avenue Asset Management LP grew its stake in shares of McDonald’s by 1,169.6% in the 3rd quarter. Baker Avenue Asset Management LP now owns 26,560 shares of the fast-food giant’s stock valued at $8,088,000 after purchasing an additional 24,468 shares during the period. Axxcess Wealth Management LLC grew its stake in shares of McDonald’s by 3.5% in the 3rd quarter. Axxcess Wealth Management LLC now owns 26,477 shares of the fast-food giant’s stock valued at $8,062,000 after purchasing an additional 885 shares during the period. Finally, Sigma Planning Corp grew its position in McDonald’s by 6.1% during the 3rd quarter. Sigma Planning Corp now owns 22,435 shares of the fast-food giant’s stock worth $6,832,000 after acquiring an additional 1,299 shares during the last quarter. Institutional investors and hedge funds own 70.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Jefferies Financial Group increased their price target on McDonald’s from $310.00 to $330.00 and gave the stock a “buy” rating in a research report on Monday, September 9th. Morgan Stanley upped their price objective on McDonald’s from $296.00 to $340.00 and gave the stock an “overweight” rating in a report on Tuesday, October 15th. Truist Financial reduced their price objective on McDonald’s from $350.00 to $342.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. KeyCorp upped their price objective on McDonald’s from $305.00 to $330.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Finally, Loop Capital reaffirmed a “buy” rating on shares of McDonald’s in a report on Friday, October 18th. Thirteen research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat, McDonald’s currently has an average rating of “Moderate Buy” and a consensus target price of $319.46.

McDonald’s Stock Performance

Shares of NYSE MCD traded up $4.31 during midday trading on Friday, reaching $298.97. The company’s stock had a trading volume of 3,279,284 shares, compared to its average volume of 4,858,855. McDonald’s Co. has a fifty-two week low of $243.53 and a fifty-two week high of $317.90. The business’s 50 day moving average price is $299.08 and its two-hundred day moving average price is $276.64. The company has a market cap of $214.46 billion, a P/E ratio of 26.25, a P/E/G ratio of 3.91 and a beta of 0.74.

McDonald’s (NYSE:MCD) last released its quarterly earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share for the quarter, beating analysts’ consensus estimates of $3.18 by $0.05. The company had revenue of $6.87 billion during the quarter, compared to the consensus estimate of $6.82 billion. McDonald’s had a net margin of 31.79% and a negative return on equity of 178.99%. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the business earned $3.19 earnings per share. Sell-side analysts forecast that McDonald’s Co. will post 11.77 earnings per share for the current fiscal year.

McDonald’s Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a dividend of $1.77 per share. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date of this dividend is Monday, December 2nd. This is a boost from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s payout ratio is presently 58.65%.

Insiders Place Their Bets

In other McDonald’s news, EVP Marion K. Gross sold 1,499 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $294.51, for a total transaction of $441,470.49. Following the sale, the executive vice president now owns 1,560 shares of the company’s stock, valued at approximately $459,435.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, 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 value of $3,518,451.81. Following the transaction, the chief executive officer now owns 49,885 shares in the company, valued at $14,966,996.55. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Marion K. Gross sold 1,499 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $294.51, for a total transaction 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. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 35,596 shares of company stock valued at $10,698,289. 0.23% of the stock is currently owned by insiders.

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.