Old North State Trust LLC Buys 118 Shares of McDonald’s Co. (NYSE:MCD)

Old North State Trust LLC lifted its stake in shares of McDonald’s Co. (NYSE:MCD) by 4.2% in the third quarter, according to its most recent filing with the SEC. The fund owned 2,941 shares of the fast-food giant’s stock after acquiring an additional 118 shares during the period. Old North State Trust LLC’s holdings in McDonald’s were worth $896,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MCD. Gradient Investments LLC boosted its stake in McDonald’s by 9.2% in the second quarter. Gradient Investments LLC now owns 112,173 shares of the fast-food giant’s stock worth $28,586,000 after buying an additional 9,446 shares in the last quarter. NORTHSTAR ASSET MANAGEMENT Co LLC grew its holdings in shares of McDonald’s by 1.8% during the 2nd quarter. NORTHSTAR ASSET MANAGEMENT Co LLC now owns 5,041 shares of the fast-food giant’s stock valued at $1,285,000 after purchasing an additional 90 shares during the last quarter. Foster Victor Wealth Advisors LLC purchased a new position in McDonald’s in the 2nd quarter worth $233,000. Tyche Wealth Partners LLC lifted its stake in McDonald’s by 0.8% in the second quarter. Tyche Wealth Partners LLC now owns 9,403 shares of the fast-food giant’s stock worth $2,396,000 after purchasing an additional 78 shares during the last quarter. Finally, CFM Wealth Partners LLC boosted its position in McDonald’s by 1.8% during the second quarter. CFM Wealth Partners LLC now owns 19,367 shares of the fast-food giant’s stock valued at $4,935,000 after buying an additional 351 shares during the period. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at McDonald’s

In related news, insider Joseph M. Erlinger sold 1,099 shares of McDonald’s stock in a transaction 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 completion of the sale, the insider now owns 10,385 shares of the company’s stock, valued at $3,036,366.30. The trade was a 9.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Ian Frederick Borden sold 5,939 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $300.04, for a total value of $1,781,937.56. Following the completion of the transaction, the chief financial officer now directly owns 20,403 shares in the company, valued at approximately $6,121,716.12. This represents a 22.55 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,099 shares of company stock worth $10,273,786. Insiders own 0.23% of the company’s stock.

McDonald’s Price Performance

Shares of NYSE:MCD opened at $296.52 on Friday. The company has a market capitalization of $212.49 billion, a PE ratio of 26.03, a PEG ratio of 3.94 and a beta of 0.73. The business has a fifty day moving average price of $299.03 and a 200-day moving average price of $280.82. McDonald’s Co. has a 1-year low of $243.53 and a 1-year high of $317.90.

McDonald’s (NYSE:MCD) last released its quarterly earnings data on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share for the quarter, beating analysts’ consensus estimates of $3.18 by $0.05. The business had revenue of $6.87 billion during the quarter, compared to analyst estimates of $6.82 billion. McDonald’s had a net margin of 31.79% and a negative return on equity of 175.42%. McDonald’s’s revenue was up 2.7% compared to the same quarter last year. During the same period last year, the business earned $3.19 EPS. On average, sell-side analysts anticipate that McDonald’s Co. will post 11.75 earnings per share for the current fiscal year.

McDonald’s Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a $1.77 dividend. The ex-dividend date is Monday, December 2nd. This is a boost from McDonald’s’s previous quarterly dividend of $1.67. This represents a $7.08 annualized dividend and a yield of 2.39%. McDonald’s’s dividend payout ratio is 62.16%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on MCD. KeyCorp boosted their target price on McDonald’s from $305.00 to $330.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Truist Financial dropped 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. Wells Fargo & Company lifted their target price on shares of McDonald’s from $285.00 to $350.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. JPMorgan Chase & Co. increased their price target on shares of McDonald’s from $270.00 to $290.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Finally, Citigroup upped their price objective on shares of McDonald’s from $301.00 to $317.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. Twelve investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $320.50.

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.