Kingsview Wealth Management LLC Buys 2,887 Shares of McDonald’s Co. (NYSE:MCD)

Kingsview Wealth Management LLC boosted its stake in shares of McDonald’s Co. (NYSE:MCD) by 5.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,987 shares of the fast-food giant’s stock after purchasing an additional 2,887 shares during the quarter. Kingsview Wealth Management LLC’s holdings in McDonald’s were worth $17,353,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the stock. Kings Path Partners LLC acquired a new stake in McDonald’s in the second quarter worth about $38,000. Hara Capital LLC acquired a new stake in McDonald’s in the third quarter worth about $44,000. Peterson Financial Group Inc. acquired a new stake in McDonald’s in the third quarter worth about $58,000. Opal Wealth Advisors LLC acquired a new stake in McDonald’s in the second quarter worth about $59,000. Finally, Bbjs Financial Advisors LLC acquired a new stake in McDonald’s in the second quarter worth about $65,000. Institutional investors own 70.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on MCD shares. TD Cowen restated a “hold” rating and issued a $300.00 price objective on shares of McDonald’s in a research note on Tuesday, October 29th. KeyCorp raised their price objective on McDonald’s from $305.00 to $330.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Truist Financial reduced their price objective on McDonald’s from $350.00 to $342.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. JPMorgan Chase & Co. raised their price objective on McDonald’s from $270.00 to $290.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. Finally, UBS Group lifted their price target on McDonald’s from $305.00 to $345.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Thirteen investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat, McDonald’s has an average rating of “Moderate Buy” and an average price target of $319.46.

Insider Activity

In other McDonald’s news, CFO Ian Frederick Borden sold 5,939 shares of the company’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $300.04, for a total transaction of $1,781,937.56. Following the sale, the chief financial officer now owns 20,403 shares in the company, valued at $6,121,716.12. This represents a 22.55 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Marion K. Gross sold 1,498 shares of the company’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 sale, the executive vice president now owns 1,560 shares in the company, 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 valued at $10,381,296 in the last quarter. Insiders own 0.23% of the company’s stock.

McDonald’s Price Performance

Shares of NYSE:MCD opened at $290.30 on Friday. The business’s 50 day moving average price is $299.85 and its 200-day moving average price is $278.06. The firm has a market capitalization of $208.03 billion, a PE ratio of 25.49, a P/E/G ratio of 3.84 and a beta of 0.74. McDonald’s Co. has a 1 year low of $243.53 and a 1 year high of $317.90.

McDonald’s (NYSE:MCD) last issued 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 firm had revenue of $6.87 billion for the quarter, compared to analyst estimates of $6.82 billion. McDonald’s had a negative return on equity of 175.42% and a net margin of 31.79%. The business’s revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the company posted $3.19 earnings per share. As a group, analysts expect that McDonald’s Co. will post 11.77 earnings per share for the current year.

McDonald’s Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a $1.77 dividend. This represents a $7.08 annualized dividend and a dividend yield of 2.44%. The ex-dividend date is Monday, December 2nd. This is a positive change from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s dividend payout ratio is 58.65%.

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.