MGB Wealth Management LLC Reduces Position in McDonald’s Co. (NYSE:MCD)

MGB Wealth Management LLC cut its holdings in shares of McDonald’s Co. (NYSE:MCD) by 10.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,774 shares of the fast-food giant’s stock after selling 430 shares during the quarter. MGB Wealth Management LLC’s holdings in McDonald’s were worth $1,148,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in MCD. International Assets Investment Management LLC lifted its holdings in McDonald’s by 31,151.1% during the third 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 purchasing an additional 2,311,721 shares during the last quarter. Swedbank AB purchased a new stake in shares of McDonald’s in the first quarter worth about $348,206,000. Mondrian Investment Partners LTD purchased a new stake in shares of McDonald’s in the second quarter worth about $110,321,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of McDonald’s in the third quarter worth about $121,254,000. Finally, Ameriprise Financial Inc. lifted its holdings in shares of McDonald’s by 8.0% in 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. 70.29% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other McDonald’s news, insider Joseph M. Erlinger sold 1,099 shares of the business’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $292.38, for a total value of $321,325.62. Following the completion of the transaction, the insider now owns 10,385 shares of the company’s stock, valued at approximately $3,036,366.30. The trade was a 9.57 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Marion K. Gross sold 1,498 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 1,560 shares of the company’s stock, valued at approximately $446,721.60. This trade represents a 48.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 34,498 shares of company stock worth $10,381,296 in the last quarter. Corporate insiders own 0.23% of the company’s stock.

McDonald’s Trading Up 0.6 %

Shares of MCD stock opened at $290.28 on Friday. McDonald’s Co. has a 12 month low of $243.53 and a 12 month high of $317.90. The stock has a market cap of $208.02 billion, a PE ratio of 25.49, a price-to-earnings-growth ratio of 3.84 and a beta of 0.74. The company’s fifty day moving average price is $299.85 and its 200-day moving average price is $278.13.

McDonald’s (NYSE:MCD) last announced its quarterly earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.18 by $0.05. The company had revenue of $6.87 billion for 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 175.42%. McDonald’s’s revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.19 EPS. On average, 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 company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a $1.77 dividend. This is a boost from McDonald’s’s previous quarterly dividend of $1.67. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $7.08 dividend on an annualized basis and a yield of 2.44%. McDonald’s’s payout ratio is presently 62.16%.

Wall Street Analysts Forecast Growth

MCD has been the topic of a number of recent analyst reports. Truist Financial lowered their price target on shares of McDonald’s from $350.00 to $342.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Loop Capital reiterated a “buy” rating on shares of McDonald’s in a research report on Friday, October 18th. Wedbush reiterated an “outperform” rating and set a $295.00 target price on shares of McDonald’s in a research report on Wednesday, October 23rd. Citigroup lifted their target price on shares of McDonald’s from $301.00 to $317.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. Finally, Guggenheim lowered shares of McDonald’s from a “buy” rating to a “neutral” rating and dropped their target price for the company from $290.00 to $285.00 in a research report on Wednesday, October 23rd. Thirteen investment 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 an average 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.