Golden State Equity Partners Sells 1,950 Shares of McDonald’s Co. (NYSE:MCD)

Golden State Equity Partners trimmed its stake in shares of McDonald’s Co. (NYSE:MCD) by 17.9% in the third quarter, HoldingsChannel reports. The firm owned 8,937 shares of the fast-food giant’s stock after selling 1,950 shares during the quarter. Golden State Equity Partners’ holdings in McDonald’s were worth $2,721,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Steigerwald Gordon & Koch Inc. lifted its stake in McDonald’s by 2.4% in the third quarter. Steigerwald Gordon & Koch Inc. now owns 1,422 shares of the fast-food giant’s stock worth $433,000 after acquiring an additional 33 shares during the period. Riversedge Advisors LLC grew its holdings in shares of McDonald’s by 2.0% during the third quarter. Riversedge Advisors LLC now owns 1,686 shares of the fast-food giant’s stock valued at $513,000 after buying an additional 33 shares during the last quarter. Proquility Private Wealth Partners LLC lifted its position in McDonald’s by 1.0% in the 3rd quarter. Proquility Private Wealth Partners LLC now owns 3,472 shares of the fast-food giant’s stock valued at $1,057,000 after acquiring an additional 35 shares in the last quarter. Founders Financial Alliance LLC boosted its position in shares of McDonald’s by 0.7% during the second quarter. Founders Financial Alliance LLC now owns 4,980 shares of the fast-food giant’s stock valued at $1,269,000 after buying an additional 36 shares during the last quarter. Finally, McAdam LLC boosted its holdings in shares of McDonald’s by 1.7% during the 3rd quarter. McAdam LLC now owns 2,176 shares of the fast-food giant’s stock valued at $663,000 after acquiring an additional 36 shares during the last quarter. 70.29% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other McDonald’s news, CEO Christopher J. Kempczinski sold 11,727 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $300.03, for a total transaction of $3,518,451.81. Following the sale, 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 hyperlink. In other news, CEO Christopher J. Kempczinski sold 11,727 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $300.03, for a total transaction of $3,518,451.81. Following the completion of the transaction, the chief executive officer now owns 49,885 shares of the company’s stock, valued at approximately $14,966,996.55. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Marion K. Gross sold 1,498 shares of the business’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 sale, the executive vice president now owns 1,560 shares in the company, valued at $446,721.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,097 shares of company stock worth $10,256,818. 0.23% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on MCD shares. Truist Financial lifted their target price on McDonald’s from $295.00 to $350.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of McDonald’s from $295.00 to $290.00 and set a “buy” rating for the company in a research report on Tuesday, July 30th. KeyCorp boosted their price target on McDonald’s from $305.00 to $330.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Barclays raised their price target on McDonald’s from $300.00 to $325.00 and gave the company an “overweight” rating in a research note on Tuesday, October 22nd. Finally, Jefferies Financial Group upped their target price on McDonald’s from $310.00 to $330.00 and gave the stock a “buy” rating in a report on Monday, September 9th. Thirteen research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $318.22.

McDonald’s Price Performance

NYSE MCD traded down $1.53 on Wednesday, hitting $293.47. 287,669 shares of the company’s stock were exchanged, compared to its average volume of 3,502,544. The firm has a market cap of $210.52 billion, a price-to-earnings ratio of 25.81, a P/E/G ratio of 4.13 and a beta of 0.73. McDonald’s Co. has a fifty-two week low of $243.53 and a fifty-two week high of $317.90. The firm’s 50-day moving average price is $298.15 and its two-hundred day moving average price is $275.35.

McDonald’s (NYSE:MCD) last released its quarterly earnings data on Tuesday, October 29th. The fast-food giant reported $3.23 EPS for the quarter, beating the consensus estimate of $3.18 by $0.05. The company had revenue of $6.87 billion for the quarter, compared to analyst estimates of $6.82 billion. McDonald’s had a negative return on equity of 178.68% and a net margin of 32.25%. The firm’s revenue was up 2.7% compared to the same quarter last year. During the same period last year, the company posted $3.19 earnings per share. On average, research analysts predict that McDonald’s Co. will post 11.73 earnings per share for the current fiscal year.

McDonald’s Increases Dividend

The company 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 2.41%. The ex-dividend date of this dividend is Monday, December 2nd. This is an increase from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s payout ratio is currently 61.94%.

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.