Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Raises Stock Holdings in McDonald’s Co. (NYSE:MCD)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its stake in McDonald’s Co. (NYSE:MCD) by 0.1% during the third quarter, HoldingsChannel reports. The institutional investor owned 120,131 shares of the fast-food giant’s stock after purchasing an additional 116 shares during the quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in McDonald’s were worth $36,229,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. Highline Wealth Partners LLC acquired a new position in McDonald’s during the third quarter worth $937,000. Trajan Wealth LLC increased its holdings in McDonald’s by 24.0% during the 3rd quarter. Trajan Wealth LLC now owns 12,671 shares of the fast-food giant’s stock worth $3,858,000 after purchasing an additional 2,454 shares during the period. Pathway Financial Advisers LLC raised its position in McDonald’s by 1.2% in the 3rd quarter. Pathway Financial Advisers LLC now owns 11,889 shares of the fast-food giant’s stock valued at $3,620,000 after purchasing an additional 142 shares in the last quarter. Avitas Wealth Management LLC boosted its stake in shares of McDonald’s by 1.3% in the 3rd quarter. Avitas Wealth Management LLC now owns 21,533 shares of the fast-food giant’s stock valued at $6,557,000 after buying an additional 270 shares during the period. Finally, Childress Capital Advisors LLC grew its position in shares of McDonald’s by 7.0% during the third quarter. Childress Capital Advisors LLC now owns 1,754 shares of the fast-food giant’s stock worth $534,000 after buying an additional 114 shares in the last quarter. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Insider Activity

In other McDonald’s news, insider Joseph M. Erlinger sold 1,098 shares of McDonald’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $288.70, for a total value of $316,992.60. Following the completion of the sale, the insider now directly owns 12,583 shares of the company’s stock, valued at approximately $3,632,712.10. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other McDonald’s news, insider Joseph M. Erlinger sold 1,098 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $288.70, for a total value of $316,992.60. Following the sale, the insider now directly owns 12,583 shares of the company’s stock, valued at approximately $3,632,712.10. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 transaction, the chief executive officer now directly owns 49,885 shares of the company’s stock, valued at approximately $14,966,996.55. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 34,097 shares of company stock valued at $10,256,818 over the last 90 days. Insiders own 0.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on MCD shares. Bank of America raised their price objective on shares of McDonald’s from $308.00 to $322.00 and gave the company a “neutral” rating in a report on Monday, October 21st. Citigroup increased their target price on shares of McDonald’s from $301.00 to $317.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. UBS Group boosted their price target on shares of McDonald’s from $305.00 to $345.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Truist Financial lifted their target price on McDonald’s from $295.00 to $350.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Finally, BMO Capital Markets lifted their price target on McDonald’s from $315.00 to $335.00 and gave the stock an “outperform” rating in a research report on Wednesday. Thirteen equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat.com, McDonald’s has an average rating of “Moderate Buy” and an average target price of $318.96.

McDonald’s Trading Down 0.6 %

Shares of MCD stock traded down $1.82 during trading hours on Wednesday, hitting $293.18. The company’s stock had a trading volume of 580,148 shares, compared to its average volume of 3,503,437. McDonald’s Co. has a twelve month low of $243.53 and a twelve month high of $317.90. The stock has a market cap of $210.31 billion, a price-to-earnings ratio of 25.68, a P/E/G ratio of 4.13 and a beta of 0.73. The business has a fifty day moving average of $298.15 and a 200-day moving average of $275.35.

McDonald’s (NYSE:MCD) last released its quarterly earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share for the quarter, topping analysts’ consensus estimates of $3.18 by $0.05. The company had revenue of $6.87 billion during the quarter, compared to analysts’ expectations of $6.82 billion. McDonald’s had a negative return on equity of 178.68% and a net margin of 32.25%. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.19 earnings per share. On average, equities analysts expect that McDonald’s Co. will post 11.73 EPS 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 given 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 is Monday, December 2nd. This is a positive change from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s payout ratio is currently 61.94%.

About McDonald’s

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.