McDonald’s Co. (NYSE:MCD) Shares Sold by BNC Wealth Management LLC

BNC Wealth Management LLC lessened its holdings in shares of McDonald’s Co. (NYSE:MCD) by 3.8% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,091 shares of the fast-food giant’s stock after selling 43 shares during the quarter. BNC Wealth Management LLC’s holdings in McDonald’s were worth $332,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Hantz Financial Services Inc. purchased a new position in shares of McDonald’s in the 2nd quarter valued at $6,612,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in McDonald’s by 58.9% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 138,102 shares of the fast-food giant’s stock valued at $35,194,000 after purchasing an additional 51,210 shares in the last quarter. U.S. Capital Wealth Advisors LLC raised its position in McDonald’s by 6.5% in the third quarter. U.S. Capital Wealth Advisors LLC now owns 49,186 shares of the fast-food giant’s stock valued at $14,978,000 after purchasing an additional 2,997 shares during the period. First Financial Bankshares Inc lifted its stake in shares of McDonald’s by 11.7% during the third quarter. First Financial Bankshares Inc now owns 313,961 shares of the fast-food giant’s stock worth $95,604,000 after purchasing an additional 32,890 shares in the last quarter. Finally, Quintet Private Bank Europe S.A. boosted its position in shares of McDonald’s by 17.1% in the third quarter. Quintet Private Bank Europe S.A. now owns 49,318 shares of the fast-food giant’s stock worth $15,018,000 after buying an additional 7,200 shares during the period. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Insider Transactions at McDonald’s

In other news, CEO Christopher J. Kempczinski sold 11,727 shares of the business’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $300.03, for a total transaction of $3,518,451.81. Following the sale, the chief executive officer now directly owns 49,885 shares of the company’s stock, valued at $14,966,996.55. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO Christopher J. Kempczinski sold 11,727 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $300.03, for a total transaction of $3,518,451.81. Following the sale, the chief executive officer now owns 49,885 shares in the company, valued at $14,966,996.55. The trade was 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, insider Joseph M. Erlinger sold 1,098 shares of McDonald’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $288.70, for a total value of $316,992.60. Following the transaction, the insider now owns 12,583 shares in the company, valued at $3,632,712.10. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 35,596 shares of company stock valued at $10,698,289 in the last three months. 0.23% of the stock is currently owned by corporate insiders.

McDonald’s Trading Down 1.1 %

Shares of NYSE MCD opened at $294.00 on Thursday. McDonald’s Co. has a twelve month low of $243.53 and a twelve month high of $317.90. The firm has a 50-day moving average of $298.74 and a two-hundred day moving average of $276.35. The company has a market capitalization of $210.90 billion, a price-to-earnings ratio of 25.81, a PEG ratio of 3.89 and a beta of 0.74.

McDonald’s (NYSE:MCD) last released its earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 EPS for the quarter, topping analysts’ consensus estimates of $3.18 by $0.05. The business had revenue of $6.87 billion for 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 178.99%. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the previous year, the firm earned $3.19 EPS. As a group, research analysts predict that McDonald’s Co. will post 11.77 earnings per share for the current year.

McDonald’s Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a dividend of $1.77 per share. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date is Monday, December 2nd. This is an increase from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s dividend payout ratio is 62.16%.

Analyst Upgrades and Downgrades

MCD has been the topic of several analyst reports. BMO Capital Markets raised 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. Jefferies Financial Group raised their price target on shares of McDonald’s from $310.00 to $330.00 and gave the stock a “buy” rating in a research report on Monday, September 9th. JPMorgan Chase & Co. boosted their price objective on McDonald’s from $270.00 to $290.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Guggenheim downgraded McDonald’s from a “buy” rating to a “neutral” rating and lowered their price target for the company from $290.00 to $285.00 in a report on Wednesday, October 23rd. Finally, Truist Financial dropped their price target 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 equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $319.46.

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.