Charles Schwab Trust Co cut its holdings in shares of McDonald’s Co. (NYSE:MCD – Free Report) by 13.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,767 shares of the fast-food giant’s stock after selling 272 shares during the period. Charles Schwab Trust Co’s holdings in McDonald’s were worth $538,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of McDonald’s by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 69,049,310 shares of the fast-food giant’s stock valued at $20,473,811,000 after buying an additional 599,745 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in McDonald’s by 15.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,347,048 shares of the fast-food giant’s stock worth $2,178,474,000 after purchasing an additional 987,099 shares during the last quarter. Legal & General Group Plc boosted its position in McDonald’s by 3.2% in the second quarter. Legal & General Group Plc now owns 6,149,080 shares of the fast-food giant’s stock worth $1,567,030,000 after purchasing an additional 188,888 shares during the last quarter. Gallagher Fiduciary Advisors LLC boosted its position in McDonald’s by 141,160.9% in the fourth quarter. Gallagher Fiduciary Advisors LLC now owns 5,613,710 shares of the fast-food giant’s stock worth $1,664,521,000 after purchasing an additional 5,609,736 shares during the last quarter. Finally, Capital Research Global Investors boosted its position in McDonald’s by 66.9% in the first quarter. Capital Research Global Investors now owns 5,471,007 shares of the fast-food giant’s stock worth $1,542,550,000 after purchasing an additional 2,193,769 shares during the last quarter. 70.29% of the stock is owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other McDonald’s news, CEO Christopher J. Kempczinski sold 9,291 shares of McDonald’s stock in a transaction on Friday, September 27th. The shares were sold at an average price of $305.00, for a total value of $2,833,755.00. Following the transaction, the chief executive officer now directly owns 43,256 shares of the company’s stock, valued at approximately $13,193,080. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Joseph M. Erlinger sold 1,099 shares of McDonald’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $260.00, for a total transaction of $285,740.00. Following the completion of the sale, the insider now directly owns 13,681 shares in the company, valued at approximately $3,557,060. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Christopher J. Kempczinski sold 9,291 shares of McDonald’s stock in a transaction on Friday, September 27th. The stock was sold at an average price of $305.00, for a total transaction of $2,833,755.00. Following the sale, the chief executive officer now owns 43,256 shares of the company’s stock, valued at $13,193,080. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 31,751 shares of company stock valued at $9,493,973. 0.23% of the stock is currently owned by insiders.
McDonald’s Stock Up 0.1 %
McDonald’s (NYSE:MCD – Get Free Report) last issued its quarterly earnings data on Monday, July 29th. The fast-food giant reported $2.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.07 by ($0.10). The business had revenue of $6.49 billion for the quarter, compared to analysts’ expectations 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 quarterly revenue was down .1% compared to the same quarter last year. During the same period in the previous year, the business earned $3.17 earnings per share. On average, equities research analysts predict 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 $1.77 dividend. This is a positive change from McDonald’s’s previous quarterly dividend of $1.67. This represents a $7.08 annualized dividend and a yield of 2.33%. The ex-dividend date is Monday, December 2nd. McDonald’s’s payout ratio is currently 58.44%.
Analyst Upgrades and Downgrades
Several brokerages have issued reports on MCD. Jefferies Financial Group raised their target price on McDonald’s from $310.00 to $330.00 and gave the stock a “buy” rating in a research report on Monday, September 9th. UBS Group lifted their price objective on McDonald’s from $305.00 to $345.00 and gave the company a “buy” rating in a research report on Wednesday. Bank of America lowered their price objective on McDonald’s from $288.00 to $278.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 30th. Argus raised McDonald’s from a “hold” rating to a “buy” rating in a research report on Tuesday. Finally, Truist Financial lowered their price objective on McDonald’s from $300.00 to $295.00 and set a “buy” rating on the stock in a research report on Tuesday, July 30th. Ten research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $310.50.
Check Out Our Latest Stock Report on McDonald’s
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.
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