Tyche Wealth Partners LLC Has $2.77 Million Stake in McDonald’s Co. (NYSE:MCD)

Tyche Wealth Partners LLC lowered its position in McDonald’s Co. (NYSE:MCD) by 3.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,097 shares of the fast-food giant’s stock after selling 306 shares during the quarter. Tyche Wealth Partners LLC’s holdings in McDonald’s were worth $2,770,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of MCD. MONECO Advisors LLC lifted its position in shares of McDonald’s by 17.3% during the 3rd quarter. MONECO Advisors LLC now owns 4,533 shares of the fast-food giant’s stock worth $1,380,000 after buying an additional 668 shares during the period. Gibraltar Capital Management Inc. acquired a new stake in McDonald’s during the 3rd quarter valued at $445,000. China Universal Asset Management Co. Ltd. increased its stake in shares of McDonald’s by 0.9% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 4,650 shares of the fast-food giant’s stock valued at $1,416,000 after buying an additional 43 shares during the period. abrdn plc grew its stake in shares of McDonald’s by 5.8% during the third quarter. abrdn plc now owns 287,051 shares of the fast-food giant’s stock worth $87,311,000 after purchasing an additional 15,695 shares during the period. Finally, Cornerstone Wealth Advisors Inc. acquired a new stake in shares of McDonald’s during the third quarter worth $225,000. Institutional investors own 70.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on MCD shares. Deutsche Bank Aktiengesellschaft cut their price target on McDonald’s from $295.00 to $290.00 and set a “buy” rating on the stock in a report on Tuesday, July 30th. Morgan Stanley boosted their price target on McDonald’s from $296.00 to $340.00 and gave the company an “overweight” rating in a research note on Tuesday, October 15th. The Goldman Sachs Group increased their price target on McDonald’s from $284.00 to $325.00 and gave the company a “neutral” rating in a research note on Tuesday, September 24th. Barclays increased their price objective on McDonald’s from $300.00 to $325.00 and gave the company an “overweight” rating in a report on Tuesday, October 22nd. Finally, Wells Fargo & Company lifted their price objective on McDonald’s from $285.00 to $350.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Thirteen investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $318.22.

Insider Activity at McDonald’s

In other news, insider Joseph M. Erlinger sold 1,099 shares of the business’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $292.38, for a total transaction of $321,325.62. Following the completion of the transaction, the insider now owns 10,385 shares of the company’s stock, valued at approximately $3,036,366.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, EVP Marion K. Gross sold 1,498 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $286.36, for a total transaction of $428,967.28. Following the sale, the executive vice president now owns 1,560 shares of the company’s stock, valued at $446,721.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Joseph M. Erlinger sold 1,099 shares of McDonald’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $292.38, for a total value of $321,325.62. Following the sale, the insider now directly owns 10,385 shares of the company’s stock, valued at approximately $3,036,366.30. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 34,097 shares of company stock worth $10,256,818. Company insiders own 0.23% of the company’s stock.

McDonald’s Stock Up 0.2 %

McDonald’s stock traded up $0.48 during trading on Tuesday, reaching $297.27. The stock had a trading volume of 4,603,139 shares, compared to its average volume of 3,495,357. McDonald’s Co. has a 52-week low of $243.53 and a 52-week high of $317.90. The business has a 50 day moving average price of $297.97 and a 200 day moving average price of $275.16. The stock has a market cap of $214.24 billion, a PE ratio of 25.20, a P/E/G ratio of 4.13 and a beta of 0.73.

McDonald’s (NYSE:MCD) last announced its quarterly earnings data on Monday, July 29th. The fast-food giant reported $2.97 EPS for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.10). The firm had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.62 billion. McDonald’s had a negative return on equity of 178.68% and a net margin of 32.25%. The firm’s quarterly revenue was down .1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.17 EPS. On average, equities analysts predict that McDonald’s Co. will post 11.73 EPS for the current fiscal year.

McDonald’s Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a $1.77 dividend. This is a positive change from McDonald’s’s previous quarterly dividend of $1.67. The ex-dividend date is Monday, December 2nd. This represents a $7.08 annualized dividend and a yield of 2.38%. McDonald’s’s dividend payout ratio (DPR) is presently 60.10%.

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.