Tyler Stone Wealth Management raised its position in McDonald's Co. (NYSE:MCD - Free Report) by 108.5% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,201 shares of the fast-food giant's stock after acquiring an additional 2,707 shares during the quarter. Tyler Stone Wealth Management's holdings in McDonald's were worth $1,584,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Hara Capital LLC purchased a new position in McDonald's in the 3rd quarter worth approximately $44,000. Kings Path Partners LLC purchased a new stake in McDonald's in the 2nd quarter worth $38,000. Opal Wealth Advisors LLC bought a new position in shares of McDonald's during the 2nd quarter valued at about $59,000. Bbjs Financial Advisors LLC purchased a new position in shares of McDonald's during the second quarter valued at about $65,000. Finally, Macroview Investment Management LLC increased its holdings in shares of McDonald's by 433.3% in the second quarter. Macroview Investment Management LLC now owns 256 shares of the fast-food giant's stock worth $65,000 after purchasing an additional 208 shares during the last quarter. 70.29% of the stock is owned by hedge funds and other institutional investors.
MCD has been the subject of several research analyst reports. Robert W. Baird cut 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. Truist Financial reduced their price target on shares of McDonald's from $350.00 to $342.00 and set a "buy" rating on the stock in a research report on Wednesday, October 30th. Wedbush reissued an "outperform" rating and issued a $295.00 price objective on shares of McDonald's in a research note on Wednesday, October 23rd. Loop Capital restated a "buy" rating on shares of McDonald's in a report on Friday, October 18th. Finally, Barclays upped their target price on McDonald's from $300.00 to $325.00 and gave the company an "overweight" rating in a research note on Tuesday, October 22nd. Thirteen research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $319.46.
Check Out Our Latest Stock Analysis on McDonald's
MCD stock traded up $4.31 during mid-day trading on Friday, reaching $298.97. 3,279,284 shares of the company's stock were exchanged, compared to its average volume of 4,858,855. McDonald's Co. has a 12-month low of $243.53 and a 12-month high of $317.90. The stock's 50 day moving average is $299.08 and its 200 day moving average is $276.64. The company has a market cap of $214.46 billion, a price-to-earnings ratio of 26.25, a price-to-earnings-growth ratio of 3.91 and a beta of 0.74.
McDonald's (NYSE:MCD - Get Free Report) last issued 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. McDonald's had a net margin of 31.79% and a negative return on equity of 178.99%. The company had revenue of $6.87 billion during the quarter, compared to analysts' expectations of $6.82 billion. During the same quarter last year, the company posted $3.19 EPS. The firm's revenue was up 2.7% compared to the same quarter last year. On average, research analysts forecast that McDonald's Co. will post 11.77 earnings per share for the current fiscal year.
The company also recently announced 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. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.37%. This is a positive change from McDonald's's previous quarterly dividend of $1.67. The ex-dividend date of this dividend is Monday, December 2nd. McDonald's's dividend payout ratio is presently 58.65%.
In related news, insider Joseph M. Erlinger sold 1,098 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $288.70, for a total value of $316,992.60. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CEO Christopher J. Kempczinski sold 11,727 shares of McDonald's stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $300.03, for a total value 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 $14,966,996.55. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Joseph M. Erlinger sold 1,098 shares of McDonald's 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 transaction, the insider now owns 12,583 shares in the company, valued at approximately $3,632,712.10. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 35,596 shares of company stock valued at $10,698,289 over the last 90 days. 0.23% of the stock is owned by corporate insiders.
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.
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