Legend Financial Advisors Inc. Sells 42 Shares of McDonald’s Co. (NYSE:MCD)

Legend Financial Advisors Inc. cut its stake in McDonald’s Co. (NYSE:MCD) by 28.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 105 shares of the fast-food giant’s stock after selling 42 shares during the period. Legend Financial Advisors Inc.’s holdings in McDonald’s were worth $32,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Perpetual Ltd bought a new stake in shares of McDonald’s during the first quarter worth about $237,000. Douglas Lane & Associates LLC boosted its position in McDonald’s by 12.0% during the first quarter. Douglas Lane & Associates LLC now owns 2,196 shares of the fast-food giant’s stock valued at $619,000 after acquiring an additional 236 shares during the last quarter. International Assets Investment Management LLC grew its holdings in McDonald’s by 12.5% during the 1st quarter. International Assets Investment Management LLC now owns 8,249 shares of the fast-food giant’s stock worth $2,311,000 after acquiring an additional 916 shares during the period. Salem Investment Counselors Inc. raised its position in shares of McDonald’s by 1.0% in the 1st quarter. Salem Investment Counselors Inc. now owns 52,164 shares of the fast-food giant’s stock worth $14,708,000 after acquiring an additional 497 shares in the last quarter. Finally, Orser Capital Management LLC increased its holdings in McDonald’s by 4.6% in the first quarter. Orser Capital Management LLC now owns 4,102 shares of the fast-food giant’s stock worth $1,157,000 after purchasing an additional 179 shares in the last quarter. 70.29% of the stock is owned by institutional investors and hedge funds.

McDonald’s Price Performance

Shares of McDonald’s stock opened at $316.53 on Friday. McDonald’s Co. has a 1-year low of $243.53 and a 1-year high of $317.18. The company’s fifty day simple moving average is $294.62 and its 200-day simple moving average is $273.73. The stock has a market capitalization of $228.12 billion, a PE ratio of 26.87, a P/E/G ratio of 4.05 and a beta of 0.73.

McDonald’s (NYSE:MCD) last posted its quarterly earnings data on Monday, July 29th. The fast-food giant reported $2.97 EPS for the quarter, missing the consensus estimate of $3.07 by ($0.10). McDonald’s had a negative return on equity of 178.68% and a net margin of 32.25%. The company had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $6.62 billion. During the same period last year, the business earned $3.17 EPS. The firm’s quarterly revenue was down .1% compared to the same quarter last year. As a group, research analysts anticipate that McDonald’s Co. will post 11.71 EPS for the current year.

McDonald’s Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a $1.77 dividend. This is an increase 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 2.24%. The ex-dividend date is Monday, December 2nd. McDonald’s’s payout ratio is currently 60.10%.

Insider Activity at McDonald’s

In other McDonald’s news, insider Joseph M. Erlinger sold 1,099 shares of the business’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $260.00, for a total transaction of $285,740.00. Following the transaction, the insider now owns 13,681 shares in the company, valued at $3,557,060. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other McDonald’s news, insider Joseph M. Erlinger sold 1,099 shares of the company’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $260.00, for a total value of $285,740.00. Following the transaction, the insider now owns 13,681 shares of the company’s stock, valued at $3,557,060. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CMO Edith Morgan Flatley sold 2,346 shares of the firm’s stock in a transaction that occurred 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 trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 34,097 shares of company stock valued at $10,221,233. Insiders own 0.23% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on MCD shares. Jefferies Financial Group upped their price objective on shares of McDonald’s from $310.00 to $330.00 and gave the stock a “buy” rating in a report on Monday, September 9th. Guggenheim lifted their target price on shares of McDonald’s from $280.00 to $290.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Truist Financial raised their price objective on shares of McDonald’s from $295.00 to $350.00 and gave the stock a “buy” rating in a report on Tuesday. The Goldman Sachs Group boosted their target price on McDonald’s from $284.00 to $325.00 and gave the company a “neutral” rating in a research note on Tuesday, September 24th. Finally, Bank of America decreased their price objective on McDonald’s from $288.00 to $278.00 and set a “neutral” rating for the company in a report on Tuesday, July 30th. Ten investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $315.69.

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.