Veracity Capital LLC Acquires 81 Shares of McDonald’s Co. (NYSE:MCD)

Veracity Capital LLC boosted its stake in shares of McDonald’s Co. (NYSE:MCD) by 4.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,904 shares of the fast-food giant’s stock after acquiring an additional 81 shares during the quarter. Veracity Capital LLC’s holdings in McDonald’s were worth $580,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MCD. Waypoint Capital Advisors LLC bought a new stake in shares of McDonald’s during the third quarter valued at approximately $245,000. AA Financial Advisors LLC increased its stake in shares of McDonald’s by 14.0% in the 3rd quarter. AA Financial Advisors LLC now owns 2,400 shares of the fast-food giant’s stock valued at $731,000 after buying an additional 295 shares during the period. Seamount Financial Group Inc. lifted its stake in shares of McDonald’s by 3.0% during the third quarter. Seamount Financial Group Inc. now owns 2,368 shares of the fast-food giant’s stock valued at $721,000 after acquiring an additional 70 shares during the period. Etesian Wealth Advisors Inc. boosted its holdings in McDonald’s by 0.7% in the third quarter. Etesian Wealth Advisors Inc. now owns 7,872 shares of the fast-food giant’s stock valued at $2,397,000 after acquiring an additional 52 shares during the last quarter. Finally, Key Client Fiduciary Advisors LLC raised its holdings in McDonald’s by 4.5% during the 3rd quarter. Key Client Fiduciary Advisors LLC now owns 1,593 shares of the fast-food giant’s stock worth $485,000 after purchasing an additional 68 shares during the last quarter. Institutional investors and hedge funds own 70.29% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Marion K. Gross sold 1,498 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were 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 in the company, valued at $446,721.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other McDonald’s news, insider Joseph M. Erlinger sold 1,099 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $260.00, for a total transaction of $285,740.00. Following the completion of the sale, the insider now owns 13,681 shares of the company’s stock, valued at $3,557,060. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Marion K. Gross sold 1,498 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $286.36, for a total transaction of $428,967.28. Following the completion of the transaction, the executive vice president now owns 1,560 shares in the company, 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. Over the last three months, insiders have sold 34,097 shares of company stock valued at $10,221,233. 0.23% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on MCD shares. Deutsche Bank Aktiengesellschaft reduced their target price on shares of McDonald’s from $295.00 to $290.00 and set a “buy” rating on the stock in a research note on Tuesday, July 30th. Bank of America lowered their target price on shares of McDonald’s from $288.00 to $278.00 and set a “neutral” rating for the company in a report on Tuesday, July 30th. Truist Financial increased their price target on McDonald’s from $295.00 to $350.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. BMO Capital Markets decreased their price objective on McDonald’s from $330.00 to $315.00 and set an “outperform” rating for the company in a research note on Tuesday, July 30th. Finally, Robert W. Baird increased their target price on McDonald’s from $280.00 to $320.00 and gave the company an “outperform” rating in a research note on Thursday, September 26th. Ten investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $315.69.

McDonald’s Trading Up 0.6 %

Shares of MCD stock opened at $316.56 on Friday. The firm’s fifty day moving average price is $294.62 and its two-hundred day moving average price is $273.70. McDonald’s Co. has a 1 year low of $243.53 and a 1 year high of $317.18. The firm has a market capitalization of $228.14 billion, a P/E ratio of 26.87, a PEG ratio of 4.05 and a beta of 0.73.

McDonald’s (NYSE:MCD) last released its earnings results on Monday, July 29th. The fast-food giant reported $2.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.07 by ($0.10). The company had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.62 billion. McDonald’s had a negative return on equity of 178.68% and a net margin of 32.25%. The business’s revenue was down .1% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.17 EPS. As a group, equities research analysts forecast that McDonald’s Co. will post 11.71 EPS for the current fiscal year.

McDonald’s Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a dividend of $1.77 per share. This represents a $7.08 dividend on an annualized basis and a yield of 2.24%. 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 presently 60.10%.

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.