Mediolanum International Funds Ltd Sells 33,659 Shares of McDonald’s Co. (NYSE:MCD)

Mediolanum International Funds Ltd lessened its position in McDonald’s Co. (NYSE:MCD) by 33.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 66,680 shares of the fast-food giant’s stock after selling 33,659 shares during the period. Mediolanum International Funds Ltd’s holdings in McDonald’s were worth $20,217,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Blackston Financial Advisory Group LLC raised its position in McDonald’s by 20.0% in the third quarter. Blackston Financial Advisory Group LLC now owns 2,388 shares of the fast-food giant’s stock worth $728,000 after acquiring an additional 398 shares during the period. Heritage Financial Services LLC raised its position in shares of McDonald’s by 86.9% during the 3rd quarter. Heritage Financial Services LLC now owns 5,374 shares of the fast-food giant’s stock valued at $1,636,000 after purchasing an additional 2,498 shares during the period. Ballentine Partners LLC raised its position in shares of McDonald’s by 7.0% during the 3rd quarter. Ballentine Partners LLC now owns 17,057 shares of the fast-food giant’s stock valued at $5,194,000 after purchasing an additional 1,122 shares during the period. Moody Lynn & Lieberson LLC raised its position in shares of McDonald’s by 2.8% during the 3rd quarter. Moody Lynn & Lieberson LLC now owns 43,994 shares of the fast-food giant’s stock valued at $13,397,000 after purchasing an additional 1,208 shares during the period. Finally, Nicholson Wealth Management Group LLC bought a new stake in shares of McDonald’s during the 3rd quarter valued at $1,179,000. Institutional investors own 70.29% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Christopher J. Kempczinski sold 11,727 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 49,885 shares in the company, valued at approximately $14,966,996.55. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, 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 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 trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 transaction of $3,518,451.81. Following the completion of the transaction, the chief executive officer now owns 49,885 shares in the company, valued at approximately $14,966,996.55. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,998 shares of company stock valued at $9,935,493. 0.23% of the stock is owned by corporate insiders.

McDonald’s Trading Down 1.5 %

NYSE:MCD traded down $4.56 during mid-day trading on Friday, hitting $297.02. The stock had a trading volume of 2,078,561 shares, compared to its average volume of 3,440,892. The stock has a 50-day simple moving average of $296.97 and a two-hundred day simple moving average of $274.51. The company has a market capitalization of $213.06 billion, a PE ratio of 26.06, a PEG ratio of 4.13 and a beta of 0.73. McDonald’s Co. has a twelve month low of $243.53 and a twelve month high of $317.90.

McDonald’s (NYSE:MCD) last released its quarterly earnings data 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). McDonald’s had a negative return on equity of 178.68% and a net margin of 32.25%. The company had revenue of $6.49 billion for the quarter, compared to analyst estimates of $6.62 billion. During the same period in the previous year, the business posted $3.17 EPS. The firm’s revenue for the quarter was down .1% compared to the same quarter last year. Sell-side analysts predict that McDonald’s Co. will post 11.73 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. Shareholders of record on Monday, December 2nd will be issued 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 yield of 2.38%. This is a boost from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s dividend payout ratio (DPR) is presently 58.44%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Truist Financial lifted their price objective 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. Wedbush reaffirmed an “outperform” rating and set a $295.00 price target on shares of McDonald’s in a research note on Wednesday. JPMorgan Chase & Co. lifted their price target on shares of McDonald’s from $270.00 to $290.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. Baird R W cut shares of McDonald’s from a “strong-buy” rating to a “hold” rating in a research note on Wednesday. Finally, 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. Thirteen equities research 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, McDonald’s has an average rating of “Moderate Buy” and an average price target of $318.22.

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.