McDonald’s Co. (NYSE:MCD) Stock Holdings Reduced by Benedict Financial Advisors Inc.

Benedict Financial Advisors Inc. cut its position in shares of McDonald’s Co. (NYSE:MCD) by 6.6% in the third quarter, Holdings Channel reports. The firm owned 22,356 shares of the fast-food giant’s stock after selling 1,581 shares during the period. McDonald’s accounts for 1.6% of Benedict Financial Advisors Inc.’s investment portfolio, making the stock its 15th largest holding. Benedict Financial Advisors Inc.’s holdings in McDonald’s were worth $6,808,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

McDonald’s Trading Down 3.0 %

Shares of MCD traded down $8.97 during mid-day trading on Friday, reaching $292.61. 8,863,234 shares of the stock traded hands, compared to its average volume of 3,475,984. The company has a market cap of $210.88 billion, a price-to-earnings ratio of 24.83, a price-to-earnings-growth ratio of 4.13 and a beta of 0.73. McDonald’s Co. has a 1 year low of $243.53 and a 1 year high of $317.90. The firm has a fifty day moving average price of $297.78 and a 200 day moving average price of $274.88.

McDonald’s (NYSE:MCD) last issued its quarterly earnings results on Monday, July 29th. The fast-food giant reported $2.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.10). The business had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.62 billion. McDonald’s had a net margin of 32.25% and a negative return on equity of 178.68%. The business’s revenue was down .1% compared to the same quarter last year. During the same quarter last year, the business posted $3.17 EPS. On average, sell-side analysts anticipate that McDonald’s Co. will post 11.73 EPS for the current year.

McDonald’s Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a dividend of $1.77 per share. This is an increase 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 2.42%. The ex-dividend date of this dividend is Monday, December 2nd. McDonald’s’s payout ratio is currently 60.10%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on MCD. Citigroup boosted their price objective on McDonald’s from $301.00 to $317.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. Truist Financial increased their price target on McDonald’s from $295.00 to $350.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Argus upgraded shares of McDonald’s from a “hold” rating to a “buy” rating in a research report on Tuesday, October 8th. Evercore ISI raised their price target on shares of McDonald’s from $320.00 to $340.00 and gave the stock an “outperform” rating in a report on Tuesday, October 15th. Finally, Stifel Nicolaus dropped their price objective on shares of McDonald’s from $285.00 to $265.00 and set a “hold” rating on the stock in a report on Monday, July 22nd. Thirteen investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. According to MarketBeat, McDonald’s has an average rating of “Moderate Buy” and a consensus target price of $318.22.

Insider Buying and Selling

In other McDonald’s news, EVP Marion K. Gross sold 1,498 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $286.36, for a total value of $428,967.28. Following the completion of the sale, the executive vice president now owns 1,560 shares of the company’s stock, valued at $446,721.60. 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 available through the SEC website. In other McDonald’s news, insider Joseph M. Erlinger sold 1,098 shares of the stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $288.70, for a total transaction of $316,992.60. Following the completion of the sale, the insider now owns 12,583 shares of the company’s stock, valued at $3,632,712.10. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Marion K. Gross sold 1,498 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $286.36, for a total transaction of $428,967.28. Following the sale, the executive vice president now owns 1,560 shares of the company’s stock, 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 ninety days, insiders sold 34,097 shares of company stock worth $10,256,818. Corporate insiders own 0.23% of the company’s stock.

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.