Patron Partners LLC Has $1.60 Million Stock Position in McDonald’s Co. (NYSE:MCD)

Patron Partners LLC trimmed its position in shares of McDonald’s Co. (NYSE:MCD) by 3.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,244 shares of the fast-food giant’s stock after selling 210 shares during the quarter. McDonald’s accounts for 0.9% of Patron Partners LLC’s investment portfolio, making the stock its 21st largest holding. Patron Partners LLC’s holdings in McDonald’s were worth $1,597,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Nations Financial Group Inc. IA ADV increased its position in McDonald’s by 6.2% in the third quarter. Nations Financial Group Inc. IA ADV now owns 11,593 shares of the fast-food giant’s stock worth $3,530,000 after buying an additional 675 shares during the last quarter. tru Independence LLC increased its holdings in McDonald’s by 5.8% in the 3rd quarter. tru Independence LLC now owns 2,378 shares of the fast-food giant’s stock worth $724,000 after acquiring an additional 131 shares during the last quarter. Venturi Wealth Management LLC lifted its holdings in McDonald’s by 18.5% during the third quarter. Venturi Wealth Management LLC now owns 5,483 shares of the fast-food giant’s stock valued at $1,670,000 after purchasing an additional 855 shares during the last quarter. Addison Advisors LLC boosted its position in McDonald’s by 4.3% during the third quarter. Addison Advisors LLC now owns 1,810 shares of the fast-food giant’s stock worth $551,000 after purchasing an additional 75 shares during the period. Finally, GDS Wealth Management increased its stake in shares of McDonald’s by 1.4% in the third quarter. GDS Wealth Management now owns 2,504 shares of the fast-food giant’s stock worth $762,000 after purchasing an additional 35 shares in the last quarter. Institutional investors and hedge funds own 70.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. UBS Group upped their price target on shares of McDonald’s from $305.00 to $345.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. KeyCorp raised their price target on McDonald’s from $305.00 to $330.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Baird R W cut shares of McDonald’s from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. 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 research report on Wednesday, October 30th. Finally, Wedbush reissued an “outperform” rating and issued a $295.00 price target on shares of McDonald’s in a report on Wednesday, October 23rd. Thirteen investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $319.46.

McDonald’s Price Performance

NYSE:MCD opened at $301.53 on Tuesday. The firm has a market capitalization of $216.30 billion, a P/E ratio of 26.47, a PEG ratio of 3.98 and a beta of 0.74. McDonald’s Co. has a one year low of $243.53 and a one year high of $317.90. The company’s 50-day simple moving average is $299.34 and its 200 day simple moving average is $276.82.

McDonald’s (NYSE:MCD) last announced its quarterly earnings data on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.18 by $0.05. McDonald’s had a negative return on equity of 178.99% and a net margin of 31.79%. The business had revenue of $6.87 billion during the quarter, compared to analysts’ expectations of $6.82 billion. During the same quarter in the previous year, the business earned $3.19 earnings per share. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. On average, equities research analysts expect that McDonald’s Co. will post 11.77 earnings per share for the current fiscal year.

McDonald’s Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a dividend of $1.77 per share. This is a positive change from McDonald’s’s previous quarterly dividend of $1.67. This represents a $7.08 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date is Monday, December 2nd. McDonald’s’s dividend payout ratio (DPR) is currently 58.65%.

Insider Activity

In related news, insider Joseph M. Erlinger sold 1,098 shares of McDonald’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $288.70, for a total transaction of $316,992.60. Following the transaction, the insider now directly owns 12,583 shares in the company, valued at approximately $3,632,712.10. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other McDonald’s news, EVP Marion K. Gross sold 1,498 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $286.36, for a total transaction of $428,967.28. Following the completion of the transaction, the executive vice president now owns 1,560 shares of the company’s stock, valued at $446,721.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Joseph M. Erlinger sold 1,098 shares of McDonald’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $288.70, for a total value of $316,992.60. Following the completion of the sale, the insider now directly owns 12,583 shares in the company, valued at $3,632,712.10. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 35,596 shares of company stock valued at $10,698,289 over the last ninety days. 0.23% of the stock is currently owned by corporate insiders.

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.