B. Riley Wealth Advisors Inc. Reduces Stock Position in McDonald’s Co. (NYSE:MCD)

B. Riley Wealth Advisors Inc. trimmed its holdings in shares of McDonald’s Co. (NYSE:MCD) by 6.8% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 54,408 shares of the fast-food giant’s stock after selling 3,944 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in McDonald’s were worth $16,553,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC bought a new stake in shares of McDonald’s in the 3rd quarter valued at approximately $25,000. RPg Family Wealth Advisory LLC purchased a new stake in McDonald’s during the 3rd quarter valued at $31,000. Kings Path Partners LLC bought a new stake in McDonald’s in the second quarter worth $38,000. Hara Capital LLC purchased a new position in McDonald’s during the third quarter worth $44,000. Finally, Peterson Financial Group Inc. bought a new position in McDonald’s during the third quarter valued at $58,000. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Insider Activity at McDonald’s

In other news, EVP Marion K. Gross sold 1,499 shares of McDonald’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $294.51, for a total value of $441,470.49. Following the sale, the executive vice president now directly owns 1,560 shares of the company’s stock, valued at $459,435.60. The trade was a 49.00 % 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, insider Joseph M. Erlinger sold 1,099 shares of McDonald’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $298.57, for a total transaction of $328,128.43. Following the sale, the insider now directly owns 11,484 shares in the company, valued at approximately $3,428,777.88. This trade represents a 8.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 34,099 shares of company stock worth $10,273,786 in the last 90 days. Corporate insiders own 0.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on MCD. Robert W. Baird downgraded shares of McDonald’s from an “outperform” rating to a “neutral” rating and cut their price target for the company from $320.00 to $290.00 in a report on Wednesday, October 23rd. Argus upgraded McDonald’s from a “hold” rating to a “buy” rating in a report on Tuesday, October 8th. Citigroup boosted their price objective on McDonald’s from $301.00 to $317.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Guggenheim lowered McDonald’s from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $290.00 to $285.00 in a research note on Wednesday, October 23rd. Finally, Truist Financial lowered their target price on shares of McDonald’s from $350.00 to $342.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. Twelve equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat.com, McDonald’s presently has a consensus rating of “Moderate Buy” and an average target price of $320.50.

McDonald’s Trading Down 0.0 %

MCD opened at $296.60 on Friday. The firm has a 50 day moving average of $298.89 and a two-hundred day moving average of $281.09. The firm has a market capitalization of $212.55 billion, a PE ratio of 26.04, a P/E/G ratio of 3.94 and a beta of 0.73. McDonald’s Co. has a 12-month low of $243.53 and a 12-month high of $317.90.

McDonald’s (NYSE:MCD) last posted its quarterly earnings results 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 net margin of 31.79% and a negative return on equity of 175.42%. The firm’s revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the company earned $3.19 earnings per share. As a group, analysts predict that McDonald’s Co. will post 11.75 EPS for the current fiscal year.

McDonald’s Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a dividend of $1.77 per share. The ex-dividend date of this dividend is Monday, December 2nd. This is a boost from McDonald’s’s previous quarterly dividend of $1.67. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.39%. McDonald’s’s dividend payout ratio (DPR) is 62.16%.

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.