Patton Albertson Miller Group LLC Has $1.73 Million Holdings in McDonald’s Co. (NYSE:MCD)

Patton Albertson Miller Group LLC decreased its stake in McDonald’s Co. (NYSE:MCD) by 1.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,694 shares of the fast-food giant’s stock after selling 59 shares during the period. Patton Albertson Miller Group LLC’s holdings in McDonald’s were worth $1,734,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Legal & General Group Plc grew its holdings in shares of McDonald’s by 3.2% during the 2nd quarter. Legal & General Group Plc now owns 6,149,080 shares of the fast-food giant’s stock worth $1,567,030,000 after purchasing an additional 188,888 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in McDonald’s by 0.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,564,359 shares of the fast-food giant’s stock worth $1,694,403,000 after purchasing an additional 49,106 shares during the period. Ameriprise Financial Inc. boosted its stake in McDonald’s by 8.0% during the second quarter. Ameriprise Financial Inc. now owns 4,761,625 shares of the fast-food giant’s stock worth $1,216,677,000 after buying an additional 354,196 shares in the last quarter. International Assets Investment Management LLC increased its holdings in McDonald’s by 31,151.1% in the 3rd quarter. International Assets Investment Management LLC now owns 2,319,142 shares of the fast-food giant’s stock valued at $706,202,000 after buying an additional 2,311,721 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. raised its stake in shares of McDonald’s by 1.1% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,015,441 shares of the fast-food giant’s stock valued at $613,722,000 after buying an additional 22,780 shares in the last quarter. Institutional investors own 70.29% of the company’s stock.

Insider Activity at McDonald’s

In other McDonald’s news, CEO Christopher J. Kempczinski sold 11,727 shares of the company’s stock in a transaction that occurred 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 completion of 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CMO Edith Morgan Flatley sold 2,346 shares of McDonald’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 transaction, the chief marketing officer now directly owns 2,905 shares in the company, valued at approximately $900,550. This represents a 44.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 34,498 shares of company stock worth $10,381,296. 0.23% of the stock is owned by insiders.

McDonald’s Trading Up 2.0 %

Shares of NYSE:MCD opened at $296.15 on Tuesday. McDonald’s Co. has a 1-year low of $243.53 and a 1-year high of $317.90. The stock has a market capitalization of $212.23 billion, a P/E ratio of 26.00, a P/E/G ratio of 3.86 and a beta of 0.74. The business has a 50-day moving average price of $299.84 and a two-hundred day moving average price of $278.40.

McDonald’s (NYSE:MCD) last announced its quarterly earnings data on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share for the quarter, beating the consensus estimate of $3.18 by $0.05. McDonald’s had a net margin of 31.79% and a negative return on equity of 175.42%. The business had revenue of $6.87 billion for the quarter, compared to analyst estimates of $6.82 billion. During the same period in the prior year, the business 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 EPS for the current year.

McDonald’s Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a dividend of $1.77 per share. 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. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.39%. McDonald’s’s payout ratio is 58.65%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Truist Financial decreased 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. Deutsche Bank Aktiengesellschaft decreased their price objective on McDonald’s from $295.00 to $290.00 and set a “buy” rating on the stock in a report on Tuesday, July 30th. TD Cowen reissued a “hold” rating and issued a $300.00 target price on shares of McDonald’s in a report on Tuesday, October 29th. Loop Capital reaffirmed a “buy” rating on shares of McDonald’s in a research note on Friday, October 18th. Finally, Robert W. Baird cut McDonald’s from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $320.00 to $290.00 in a research report on Wednesday, October 23rd. Thirteen investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat, McDonald’s presently has an average rating of “Moderate Buy” and an average price target of $319.46.

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.