Precedent Wealth Partners LLC Raises Stake in McDonald’s Co. (NYSE:MCD)

Precedent Wealth Partners LLC lifted its stake in shares of McDonald’s Co. (NYSE:MCD) by 8.3% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 5,716 shares of the fast-food giant’s stock after acquiring an additional 438 shares during the period. Precedent Wealth Partners LLC’s holdings in McDonald’s were worth $1,740,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Dixon Mitchell Investment Counsel Inc. acquired a new position in McDonald’s in the first quarter valued at approximately $28,000. Kings Path Partners LLC purchased a new stake in McDonald’s in the second quarter valued at $38,000. Keener Financial Planning LLC lifted its stake in shares of McDonald’s by 32.3% in the 1st quarter. Keener Financial Planning LLC now owns 176 shares of the fast-food giant’s stock valued at $50,000 after purchasing an additional 43 shares during the last quarter. Opal Wealth Advisors LLC purchased a new position in shares of McDonald’s during the 2nd quarter worth $59,000. Finally, Bbjs Financial Advisors LLC acquired a new stake in shares of McDonald’s during the 2nd quarter worth about $65,000. Institutional investors and hedge funds own 70.29% of the company’s stock.

McDonald’s Stock Up 0.6 %

Shares of NYSE MCD opened at $316.53 on Friday. The business has a 50-day moving average price of $294.62 and a 200 day moving average price of $273.73. The stock has a market cap of $228.12 billion, a PE ratio of 26.87, a price-to-earnings-growth ratio of 4.05 and a beta of 0.73. McDonald’s Co. has a 52-week low of $243.53 and a 52-week high of $317.18.

McDonald’s (NYSE:MCD) last announced its earnings results 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). McDonald’s had a negative return on equity of 178.68% and a net margin of 32.25%. The business had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.62 billion. During the same quarter last year, the business posted $3.17 earnings per share. The business’s revenue was down .1% on a year-over-year basis. Sell-side analysts anticipate that McDonald’s Co. will post 11.71 earnings per share for the current year.

McDonald’s Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a dividend of $1.77 per share. This is an increase from McDonald’s’s previous quarterly dividend of $1.67. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $7.08 annualized dividend and a dividend yield of 2.24%. McDonald’s’s dividend payout ratio is 60.10%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on MCD shares. Morgan Stanley boosted their price target on shares of McDonald’s from $296.00 to $340.00 and gave the company an “overweight” rating in a research note on Tuesday. Tigress Financial upped their price target on McDonald’s from $355.00 to $360.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Barclays lowered their price target on McDonald’s from $320.00 to $300.00 and set an “overweight” rating for the company in a research report on Tuesday, July 30th. Loop Capital reiterated a “buy” rating on shares of McDonald’s in a report on Friday. Finally, 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. Ten equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $315.69.

Insider Buying and Selling

In other McDonald’s news, CMO Edith Morgan Flatley sold 2,346 shares of the 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 completion of the sale, the chief marketing officer now directly owns 2,905 shares of the company’s stock, valued at approximately $900,550. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CMO Edith Morgan Flatley sold 2,346 shares of the company’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 completion of the sale, the chief marketing officer now owns 2,905 shares in the company, valued at $900,550. This represents 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 available through this link. Also, EVP Marion K. Gross sold 1,498 shares of the stock in a transaction on 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 directly owns 1,560 shares of the company’s stock, valued at approximately $446,721.60. This 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 34,097 shares of company stock valued at $10,221,233 over the last quarter. 0.23% of the stock is currently owned by 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.