Independent Solutions Wealth Management LLC Raises Holdings in McDonald’s Co. (NYSE:MCD)

Independent Solutions Wealth Management LLC lifted its holdings in McDonald’s Co. (NYSE:MCD) by 13.8% during the third quarter, Holdings Channel reports. The institutional investor owned 8,939 shares of the fast-food giant’s stock after purchasing an additional 1,081 shares during the quarter. Independent Solutions Wealth Management LLC’s holdings in McDonald’s were worth $2,722,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MCD. Lord Abbett & CO. LLC lifted its holdings in McDonald’s by 0.5% in the third quarter. Lord Abbett & CO. LLC now owns 280,204 shares of the fast-food giant’s stock valued at $85,325,000 after acquiring an additional 1,263 shares during the period. Legacy Wealth Management LLC MS increased its holdings in shares of McDonald’s by 6.4% in the 3rd quarter. Legacy Wealth Management LLC MS now owns 5,423 shares of the fast-food giant’s stock valued at $1,651,000 after purchasing an additional 328 shares in the last quarter. Birmingham Capital Management Co. Inc. AL lifted its stake in shares of McDonald’s by 2.3% in the third quarter. Birmingham Capital Management Co. Inc. AL now owns 36,313 shares of the fast-food giant’s stock valued at $11,058,000 after purchasing an additional 807 shares during the period. DGS Capital Management LLC acquired a new position in McDonald’s during the third quarter worth about $215,000. Finally, Garden State Investment Advisory Services LLC increased its holdings in McDonald’s by 3.9% in the third quarter. Garden State Investment Advisory Services LLC now owns 1,293 shares of the fast-food giant’s stock valued at $395,000 after buying an additional 49 shares in the last quarter. Institutional investors and hedge funds own 70.29% of the company’s stock.

McDonald’s Stock Up 0.4 %

Shares of NYSE MCD traded up $1.12 on Thursday, hitting $292.00. The company had a trading volume of 1,492,395 shares, compared to its average volume of 3,458,255. The firm has a market capitalization of $209.25 billion, a P/E ratio of 25.64, a PEG ratio of 3.94 and a beta of 0.73. McDonald’s Co. has a 12-month low of $243.53 and a 12-month high of $317.90. The business has a 50 day moving average of $298.45 and a two-hundred day moving average of $282.15.

McDonald’s (NYSE:MCD) last issued its quarterly earnings data on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share (EPS) for the quarter, beating the consensus estimate 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 175.42%. McDonald’s’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter last year, the company earned $3.19 earnings per share. On average, sell-side analysts anticipate that McDonald’s Co. will post 11.75 earnings per share for the current year.

McDonald’s Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were given a $1.77 dividend. 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 yield of 2.42%. The ex-dividend date was Monday, December 2nd. McDonald’s’s dividend payout ratio is presently 62.16%.

Insider Activity

In related news, CFO Ian Frederick Borden sold 5,939 shares of the company’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $300.04, for a total value of $1,781,937.56. Following the sale, the chief financial officer now directly owns 20,403 shares of the company’s stock, valued at $6,121,716.12. This represents a 22.55 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Joseph M. Erlinger sold 1,099 shares of the firm’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $298.57, for a total transaction of $328,128.43. Following the transaction, the insider now directly owns 11,484 shares of the company’s stock, valued at approximately $3,428,777.88. This represents a 8.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,099 shares of company stock worth $10,273,786 over the last ninety days. Corporate insiders own 0.23% of the company’s stock.

Analyst Upgrades and Downgrades

MCD has been the topic of several research analyst reports. Citigroup boosted their price target on McDonald’s from $301.00 to $317.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. BMO Capital Markets upped their target price on McDonald’s from $315.00 to $335.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Loop Capital reaffirmed a “buy” rating on shares of McDonald’s in a research note on Friday, October 18th. Baird R W lowered shares of McDonald’s from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. Finally, Truist Financial dropped 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, October 30th. Twelve equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $320.50.

McDonald’s 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.