Rogco LP Sells 311 Shares of McDonald’s Co. (NYSE:MCD)

Rogco LP reduced its stake in shares of McDonald’s Co. (NYSE:MCD) by 6.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,364 shares of the fast-food giant’s stock after selling 311 shares during the quarter. Rogco LP’s holdings in McDonald’s were worth $1,329,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Dixon Mitchell Investment Counsel Inc. bought a new stake in shares of McDonald’s in the 1st quarter worth about $28,000. Kings Path Partners LLC bought a new stake in McDonald’s in the second quarter worth about $38,000. Keener Financial Planning LLC lifted its stake in McDonald’s by 32.3% in the first quarter. Keener Financial Planning LLC now owns 176 shares of the fast-food giant’s stock worth $50,000 after purchasing an additional 43 shares during the last quarter. Opal Wealth Advisors LLC bought a new position in shares of McDonald’s during the second quarter valued at approximately $59,000. Finally, Redmont Wealth Advisors LLC purchased a new stake in shares of McDonald’s in the first quarter worth approximately $69,000. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Guggenheim downgraded McDonald’s from a “buy” rating to a “neutral” rating and cut their price objective for the company from $290.00 to $285.00 in a research report on Wednesday. Stifel Nicolaus cut their price target 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. Bank of America lifted 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. Truist Financial upped their target price 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. Finally, Robert W. Baird lowered shares of McDonald’s from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $320.00 to $290.00 in a research report on Wednesday. Thirteen analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, McDonald’s has a consensus rating of “Moderate Buy” and a consensus target price of $318.22.

McDonald’s Trading Up 0.7 %

McDonald’s stock traded up $2.09 during mid-day trading on Thursday, hitting $300.66. The company’s stock had a trading volume of 2,349,716 shares, compared to its average volume of 3,433,937. The firm has a market capitalization of $216.68 billion, a PE ratio of 25.36, a price-to-earnings-growth ratio of 4.05 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 stock’s fifty day moving average is $296.97 and its two-hundred day moving average is $274.51.

McDonald’s (NYSE:MCD) last announced its quarterly earnings results on Monday, July 29th. The fast-food giant reported $2.97 earnings per share for the quarter, missing analysts’ consensus estimates 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 net margin of 32.25% and a negative return on equity of 178.68%. McDonald’s’s revenue was down .1% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.17 earnings per share. On average, equities analysts expect that McDonald’s Co. will post 11.71 EPS for the current fiscal year.

McDonald’s Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a dividend of $1.77 per share. This represents a $7.08 annualized dividend and a yield of 2.35%. The ex-dividend date is Monday, December 2nd. This is a boost from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s payout ratio is 60.10%.

Insider Buying and Selling at McDonald’s

In other McDonald’s news, insider Joseph M. Erlinger sold 1,098 shares of the firm’s 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 sale, the insider now directly owns 12,583 shares in the company, valued at $3,632,712.10. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other McDonald’s news, insider Joseph M. Erlinger sold 1,098 shares of the 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 transaction, the insider now directly owns 12,583 shares in the company, valued at $3,632,712.10. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CMO Edith Morgan Flatley sold 2,346 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $310.00, for a total transaction of $727,260.00. Following the sale, the chief marketing officer now owns 2,905 shares of the company’s stock, valued at $900,550. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,998 shares of company stock valued at $9,935,493. Insiders own 0.23% of the company’s stock.

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.