Bleakley Financial Group LLC Sells 555 Shares of McDonald’s Co. (NYSE:MCD)

Bleakley Financial Group LLC lowered its position in shares of McDonald’s Co. (NYSE:MCD) by 2.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,358 shares of the fast-food giant’s stock after selling 555 shares during the period. Bleakley Financial Group LLC’s holdings in McDonald’s were worth $6,199,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Dixon Mitchell Investment Counsel Inc. bought a new position in shares of McDonald’s during the first quarter worth approximately $28,000. Kings Path Partners LLC acquired a new stake in McDonald’s during the second quarter worth approximately $38,000. Keener Financial Planning LLC grew its position in McDonald’s by 32.3% during the first quarter. Keener Financial Planning LLC now owns 176 shares of the fast-food giant’s stock worth $50,000 after buying an additional 43 shares in the last quarter. Opal Wealth Advisors LLC acquired a new stake in McDonald’s during the second quarter worth approximately $59,000. Finally, Redmont Wealth Advisors LLC acquired a new stake in McDonald’s during the first quarter worth approximately $69,000. Institutional investors own 70.29% of the company’s stock.

McDonald’s Price Performance

Shares of NYSE:MCD opened at $314.75 on Friday. The company has a market capitalization of $226.83 billion, a price-to-earnings ratio of 26.72, a P/E/G ratio of 4.05 and a beta of 0.73. The business’s 50-day moving average is $293.64 and its 200-day moving average is $273.48. McDonald’s Co. has a 1 year low of $243.53 and a 1 year high of $315.36.

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

McDonald’s Increases Dividend

The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 2.25%. This is an increase from McDonald’s’s previous quarterly dividend of $1.67. The ex-dividend date is Monday, December 2nd. McDonald’s’s payout ratio is currently 60.10%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on MCD shares. Deutsche Bank Aktiengesellschaft reduced their price target on McDonald’s from $295.00 to $290.00 and set a “buy” rating on the stock in a research report on Tuesday, July 30th. Truist Financial raised their target price on McDonald’s from $295.00 to $350.00 and gave the company a “buy” rating in a report on Tuesday. Wedbush reaffirmed an “outperform” rating and issued a $295.00 target price on shares of McDonald’s in a report on Monday, July 29th. Robert W. Baird raised their target price on McDonald’s from $280.00 to $320.00 and gave the company an “outperform” rating in a report on Thursday, September 26th. Finally, Bank of America reduced their target price on McDonald’s from $288.00 to $278.00 and set a “neutral” rating on the stock in a report on Tuesday, July 30th. Ten equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $315.69.

Insider Activity

In other news, CEO Christopher J. Kempczinski sold 11,727 shares of the business’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $300.03, for a total value of $3,518,451.81. Following the transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, EVP Marion K. Gross sold 1,498 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $286.36, for a total transaction of $428,967.28. Following the transaction, the executive vice president now directly owns 1,560 shares of the company’s stock, valued at approximately $446,721.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Christopher J. Kempczinski sold 11,727 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $300.03, for a total value of $3,518,451.81. Following the transaction, the chief executive officer now directly owns 49,885 shares in the company, valued at approximately $14,966,996.55. 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 34,097 shares of company stock valued at $10,221,233 in the last ninety days. 0.23% of the stock is owned by company insiders.

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.