McDonald’s Co. (NYSE:MCD) Shares Sold by King Wealth Management Group

King Wealth Management Group cut its position in McDonald’s Co. (NYSE:MCD) by 2.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,947 shares of the fast-food giant’s stock after selling 1,124 shares during the period. McDonald’s accounts for 1.9% of King Wealth Management Group’s holdings, making the stock its 14th largest position. King Wealth Management Group’s holdings in McDonald’s were worth $12,164,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the company. Hantz Financial Services Inc. purchased a new stake in McDonald’s during the 2nd quarter valued at about $6,612,000. Kennebec Savings Bank purchased a new stake in McDonald’s in the 3rd quarter valued at $1,394,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in shares of McDonald’s by 58.9% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 138,102 shares of the fast-food giant’s stock worth $35,194,000 after acquiring an additional 51,210 shares during the period. U.S. Capital Wealth Advisors LLC increased its position in McDonald’s by 6.5% during the third quarter. U.S. Capital Wealth Advisors LLC now owns 49,186 shares of the fast-food giant’s stock worth $14,978,000 after purchasing an additional 2,997 shares during the last quarter. Finally, Quintet Private Bank Europe S.A. boosted its holdings in McDonald’s by 17.1% in the 3rd quarter. Quintet Private Bank Europe S.A. now owns 49,318 shares of the fast-food giant’s stock valued at $15,018,000 after purchasing an additional 7,200 shares during the last quarter. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MCD has been the subject of a number of research analyst reports. Tigress Financial increased their price target on McDonald’s from $355.00 to $360.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Truist Financial cut their price target on McDonald’s from $350.00 to $342.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. The Goldman Sachs Group raised their price objective on shares of McDonald’s from $284.00 to $325.00 and gave the company a “neutral” rating in a report on Tuesday, September 24th. Wedbush reiterated an “outperform” rating and issued a $295.00 price target on shares of McDonald’s in a research note on Wednesday, October 23rd. Finally, Morgan Stanley boosted their price objective on McDonald’s from $296.00 to $340.00 and gave the company an “overweight” rating in a research note on Tuesday, October 15th. Thirteen investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, McDonald’s presently has a consensus rating of “Moderate Buy” and a consensus target price of $319.46.

McDonald’s Stock Up 0.4 %

MCD stock opened at $298.56 on Friday. The stock has a market capitalization of $213.95 billion, a price-to-earnings ratio of 26.21, a price-to-earnings-growth ratio of 3.95 and a beta of 0.74. The stock’s fifty day simple moving average is $299.79 and its 200-day simple moving average is $277.14. McDonald’s Co. has a 52-week low of $243.53 and a 52-week high of $317.90.

McDonald’s (NYSE:MCD) last announced its quarterly earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share for the quarter, topping analysts’ consensus estimates of $3.18 by $0.05. The firm had revenue of $6.87 billion during the quarter, compared to analysts’ expectations of $6.82 billion. McDonald’s had a net margin of 31.79% and a negative return on equity of 175.42%. The firm’s revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the company earned $3.19 EPS. As a group, analysts anticipate that McDonald’s Co. will post 11.77 earnings per share for the current fiscal year.

McDonald’s Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a dividend of $1.77 per share. This is a boost 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 2.37%. The ex-dividend date is Monday, December 2nd. McDonald’s’s payout ratio is presently 58.65%.

Insider Activity

In other news, insider Joseph M. Erlinger sold 1,098 shares of the firm’s stock in a transaction that occurred 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 approximately $3,632,712.10. This trade represents a 8.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Marion K. Gross sold 1,498 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $286.36, for a total transaction of $428,967.28. Following the completion of the sale, the executive vice president now directly owns 1,560 shares in the company, valued at $446,721.60. This represents a 48.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 35,596 shares of company stock worth $10,698,289. 0.23% of the stock is currently owned by company insiders.

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.