Covestor Ltd Trims Stock Holdings in McDonald’s Co. (NYSE:MCD)

Covestor Ltd lessened its holdings in McDonald’s Co. (NYSE:MCD) by 6.8% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 864 shares of the fast-food giant’s stock after selling 63 shares during the quarter. Covestor Ltd’s holdings in McDonald’s were worth $264,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of MCD. Steigerwald Gordon & Koch Inc. increased its position in shares of McDonald’s by 2.4% during the third quarter. Steigerwald Gordon & Koch Inc. now owns 1,422 shares of the fast-food giant’s stock worth $433,000 after acquiring an additional 33 shares during the period. Riversedge Advisors LLC increased its holdings in McDonald’s by 2.0% during the 3rd quarter. Riversedge Advisors LLC now owns 1,686 shares of the fast-food giant’s stock worth $513,000 after purchasing an additional 33 shares during the period. Proquility Private Wealth Partners LLC raised its position in McDonald’s by 1.0% during the 3rd quarter. Proquility Private Wealth Partners LLC now owns 3,472 shares of the fast-food giant’s stock valued at $1,057,000 after purchasing an additional 35 shares in the last quarter. Clear Creek Financial Management LLC lifted its holdings in shares of McDonald’s by 2.8% in the 3rd quarter. Clear Creek Financial Management LLC now owns 1,300 shares of the fast-food giant’s stock worth $396,000 after buying an additional 35 shares during the period. Finally, Founders Financial Alliance LLC grew its position in shares of McDonald’s by 0.7% during the 2nd quarter. Founders Financial Alliance LLC now owns 4,980 shares of the fast-food giant’s stock worth $1,269,000 after buying an additional 36 shares in the last quarter. Hedge funds and other institutional investors own 70.29% of the company’s stock.

McDonald’s Stock Up 1.5 %

Shares of NYSE:MCD opened at $298.97 on Friday. McDonald’s Co. has a 52-week low of $243.53 and a 52-week high of $317.90. The business has a fifty day moving average of $299.08 and a two-hundred day moving average of $276.64. The stock has a market cap of $214.46 billion, a P/E ratio of 26.25, a PEG ratio of 3.91 and a beta of 0.74.

McDonald’s (NYSE:MCD) last posted its quarterly earnings results 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. The business had revenue of $6.87 billion during the quarter, compared to analysts’ expectations of $6.82 billion. McDonald’s had a net margin of 31.79% and a negative return on equity of 178.99%. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.19 EPS. On average, equities analysts anticipate that McDonald’s Co. will post 11.77 earnings per share for the current year.

McDonald’s Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a dividend of $1.77 per share. The ex-dividend date 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 2.37%. McDonald’s’s dividend payout ratio (DPR) is currently 58.65%.

Insider Activity

In other news, EVP Marion K. Gross sold 1,498 shares of McDonald’s stock in a transaction 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 of the company’s stock, valued at approximately $446,721.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, EVP Marion K. Gross sold 1,498 shares of the company’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 sale, the executive vice president now owns 1,560 shares of the company’s stock, valued at approximately $446,721.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Marion K. Gross sold 1,499 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $294.51, for a total value of $441,470.49. Following the completion of the sale, the executive vice president now directly owns 1,560 shares in the company, valued at $459,435.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 35,596 shares of company stock valued at $10,698,289. Company insiders own 0.23% of the company’s stock.

Analyst Upgrades and Downgrades

MCD has been the topic of a number of research reports. Tigress Financial raised their target price on shares of McDonald’s from $355.00 to $360.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Barclays boosted their price objective on shares of McDonald’s from $300.00 to $325.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 22nd. Loop Capital reaffirmed a “buy” rating on shares of McDonald’s in a research report on Friday, October 18th. Stifel Nicolaus reduced their price target on McDonald’s from $285.00 to $265.00 and set a “hold” rating for the company in a research report on Monday, July 22nd. Finally, Truist Financial dropped their price objective on McDonald’s from $350.00 to $342.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. Thirteen research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price 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.