McDonald’s Co. (NYSE:MCD) Shares Sold by Indie Asset Partners LLC

Indie Asset Partners LLC reduced its stake in shares of McDonald’s Co. (NYSE:MCD) by 1.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,873 shares of the fast-food giant’s stock after selling 53 shares during the period. McDonald’s accounts for about 0.7% of Indie Asset Partners LLC’s holdings, making the stock its 25th biggest position. Indie Asset Partners LLC’s holdings in McDonald’s were worth $875,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Kings Path Partners LLC acquired a new stake in shares of McDonald’s during the 2nd quarter worth about $38,000. Keener Financial Planning LLC boosted its position in McDonald’s by 32.3% during the first quarter. Keener Financial Planning LLC now owns 176 shares of the fast-food giant’s stock worth $50,000 after acquiring an additional 43 shares during the last quarter. Opal Wealth Advisors LLC purchased a new stake in McDonald’s in the 2nd quarter worth approximately $59,000. Bbjs Financial Advisors LLC acquired a new position in McDonald’s in the 2nd quarter valued at $65,000. Finally, Macroview Investment Management LLC lifted its stake in shares of McDonald’s by 433.3% during the 2nd quarter. Macroview Investment Management LLC now owns 256 shares of the fast-food giant’s stock worth $65,000 after purchasing an additional 208 shares during the period. Hedge funds and other institutional investors own 70.29% of the company’s stock.

McDonald’s Trading Up 1.1 %

Shares of NYSE:MCD opened at $295.21 on Friday. The firm has a market cap of $211.77 billion, a PE ratio of 25.92, a price-to-earnings-growth ratio of 3.88 and a beta of 0.74. The company has a fifty day simple moving average of $298.36 and a 200 day simple moving average of $275.86. McDonald’s Co. has a 12-month low of $243.53 and a 12-month high of $317.90.

McDonald’s (NYSE:MCD) last released its earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share for the quarter, topping 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 178.99%. The company had revenue of $6.87 billion during the quarter, compared to the consensus estimate of $6.82 billion. During the same quarter in the previous year, the firm earned $3.19 EPS. The company’s revenue was up 2.7% on a year-over-year basis. As a group, equities research analysts forecast that McDonald’s Co. will post 11.77 EPS for the current fiscal year.

McDonald’s Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a dividend of $1.77 per share. This represents a $7.08 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date of this dividend is Monday, December 2nd. This is an increase from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s dividend payout ratio (DPR) is currently 58.65%.

Analyst Ratings Changes

A number of brokerages have recently commented on MCD. TD Cowen reaffirmed a “hold” rating and issued a $300.00 price objective on shares of McDonald’s in a research report on Tuesday, October 29th. Barclays increased their price objective on shares of McDonald’s from $300.00 to $325.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. Truist Financial lowered their target price on shares of McDonald’s from $350.00 to $342.00 and set a “buy” rating for the company in a report on Wednesday. Jefferies Financial Group increased their price target on shares of McDonald’s from $310.00 to $330.00 and gave the stock a “buy” rating in a research note on Monday, September 9th. Finally, Morgan Stanley boosted their price objective on shares of McDonald’s from $296.00 to $340.00 and gave the company an “overweight” rating in a research note on Tuesday, October 15th. Thirteen investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $319.46.

Insider Transactions at McDonald’s

In related news, EVP Marion K. Gross sold 1,498 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $286.36, for a total transaction of $428,967.28. Following the transaction, the executive vice president now directly owns 1,560 shares in the company, valued at $446,721.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, insider Joseph M. Erlinger sold 1,098 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $288.70, for a total transaction of $316,992.60. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Marion K. Gross sold 1,498 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $286.36, for a total value of $428,967.28. Following the completion of the sale, the executive vice president now directly owns 1,560 shares in the company, valued at approximately $446,721.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,097 shares of company stock worth $10,256,818. 0.23% of the stock is currently owned by corporate 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.