Segment Wealth Management LLC Raises Holdings in McDonald’s Co. (NYSE:MCD)

Segment Wealth Management LLC lifted its position in shares of McDonald’s Co. (NYSE:MCD) by 4.3% during the third quarter, Holdings Channel reports. The firm owned 53,836 shares of the fast-food giant’s stock after acquiring an additional 2,229 shares during the quarter. Segment Wealth Management LLC’s holdings in McDonald’s were worth $16,394,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Hoxton Planning & Management LLC acquired a new position in shares of McDonald’s in the 1st quarter valued at $222,000. Sound Income Strategies LLC raised its holdings in shares of McDonald’s by 61.8% in the first quarter. Sound Income Strategies LLC now owns 2,577 shares of the fast-food giant’s stock valued at $727,000 after buying an additional 984 shares during the last quarter. Brookstone Capital Management boosted its stake in shares of McDonald’s by 17.6% during the first quarter. Brookstone Capital Management now owns 66,448 shares of the fast-food giant’s stock worth $18,735,000 after buying an additional 9,936 shares during the period. GoalVest Advisory LLC grew its holdings in shares of McDonald’s by 24.7% during the first quarter. GoalVest Advisory LLC now owns 4,826 shares of the fast-food giant’s stock worth $1,361,000 after buying an additional 957 shares during the last quarter. Finally, Key Client Fiduciary Advisors LLC increased its position in McDonald’s by 2.8% in the 1st quarter. Key Client Fiduciary Advisors LLC now owns 1,432 shares of the fast-food giant’s stock valued at $404,000 after acquiring an additional 39 shares during the period. 70.29% of the stock is owned by hedge funds and other institutional investors.

McDonald’s Trading Down 0.1 %

Shares of MCD opened at $314.65 on Wednesday. McDonald’s Co. has a 12-month low of $243.53 and a 12-month high of $317.90. The stock has a market cap of $226.76 billion, a P/E ratio of 26.71, a PEG ratio of 4.05 and a beta of 0.73. The company has a 50-day moving average of $296.41 and a two-hundred day moving average of $274.34.

McDonald’s (NYSE:MCD) last issued its quarterly earnings data 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 analyst estimates of $6.62 billion. McDonald’s had a negative return on equity of 178.68% and a net margin of 32.25%. The company’s revenue for the quarter was down .1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.17 earnings per share. As a group, analysts forecast that McDonald’s Co. will post 11.71 EPS for the current fiscal year.

McDonald’s Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a dividend of $1.77 per share. The ex-dividend date is Monday, December 2nd. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.25%. This is a positive change from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s dividend payout ratio (DPR) is presently 60.10%.

Insider Buying and Selling

In other McDonald’s news, CEO Christopher J. Kempczinski sold 11,727 shares of the firm’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 sale, the chief executive officer now directly owns 49,885 shares of the company’s stock, valued at $14,966,996.55. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other McDonald’s news, CEO Christopher J. Kempczinski sold 11,727 shares of the stock in a transaction on Monday, September 23rd. The stock was 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 owns 49,885 shares of the company’s stock, valued at $14,966,996.55. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CMO Edith Morgan Flatley sold 2,346 shares of McDonald’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $310.00, for a total value of $727,260.00. Following the completion of the sale, the chief marketing officer now directly owns 2,905 shares of the company’s stock, valued at approximately $900,550. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 32,998 shares of company stock worth $9,935,493. 0.23% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. 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 report on Tuesday, July 30th. Loop Capital reaffirmed a “buy” rating on shares of McDonald’s in a report on Friday. Robert W. Baird boosted their price objective on shares of McDonald’s from $280.00 to $320.00 and gave the company an “outperform” rating in a research note on Thursday, September 26th. Morgan Stanley raised their target price on shares of McDonald’s from $296.00 to $340.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 15th. Finally, Truist Financial boosted their price target on shares of McDonald’s from $295.00 to $350.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Ten analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. According to MarketBeat.com, McDonald’s currently has a consensus rating of “Moderate Buy” and a consensus price target of $319.52.

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.