McDonald’s Co. (NYSE:MCD) Shares Sold by Carlton Hofferkamp & Jenks Wealth Management LLC

Carlton Hofferkamp & Jenks Wealth Management LLC lessened its stake in McDonald’s Co. (NYSE:MCD) by 2.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,305 shares of the fast-food giant’s stock after selling 50 shares during the quarter. Carlton Hofferkamp & Jenks Wealth Management LLC’s holdings in McDonald’s were worth $675,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in MCD. International Assets Investment Management LLC lifted its holdings in shares of McDonald’s by 31,151.1% during the 3rd quarter. International Assets Investment Management LLC now owns 2,319,142 shares of the fast-food giant’s stock valued at $706,202,000 after acquiring an additional 2,311,721 shares in the last quarter. Capital Research Global Investors increased its stake in McDonald’s by 66.9% during the 1st quarter. Capital Research Global Investors now owns 5,471,007 shares of the fast-food giant’s stock worth $1,542,550,000 after buying an additional 2,193,769 shares during the period. Swedbank AB purchased a new stake in McDonald’s during the 1st quarter worth $348,206,000. Capital World Investors increased its stake in McDonald’s by 39.7% during the 1st quarter. Capital World Investors now owns 3,565,398 shares of the fast-food giant’s stock worth $1,005,264,000 after buying an additional 1,012,534 shares during the period. Finally, Mondrian Investment Partners LTD purchased a new stake in McDonald’s during the 2nd quarter worth $110,321,000. Institutional investors and hedge funds own 70.29% of the company’s stock.

Insider Buying and Selling

In related news, EVP Marion K. Gross sold 1,499 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $294.51, for a total value of $441,470.49. Following the sale, the executive vice president now directly owns 1,560 shares in the company, valued at $459,435.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, EVP Marion K. Gross sold 1,499 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $294.51, for a total transaction of $441,470.49. Following the sale, the executive vice president now owns 1,560 shares in the company, valued at $459,435.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Joseph M. Erlinger sold 1,099 shares of the business’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $292.38, for a total transaction of $321,325.62. Following the sale, the insider now owns 10,385 shares in the company, valued at $3,036,366.30. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 35,596 shares of company stock worth $10,698,289 in the last ninety days. 0.23% of the stock is currently owned by corporate insiders.

McDonald’s Trading Down 1.0 %

Shares of NYSE:MCD opened at $298.65 on Wednesday. The company has a 50 day moving average of $299.60 and a 200-day moving average of $277.00. The firm has a market cap of $214.01 billion, a P/E ratio of 26.22, a P/E/G ratio of 4.01 and a beta of 0.74. McDonald’s Co. has a twelve month low of $243.53 and a twelve month high of $317.90.

McDonald’s (NYSE:MCD) last issued 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 company had revenue of $6.87 billion during the quarter, compared to analyst estimates of $6.82 billion. McDonald’s had a net margin of 31.79% and a negative return on equity of 175.42%. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the prior year, the business posted $3.19 EPS. Equities research analysts forecast that McDonald’s Co. will post 11.77 EPS for the current year.

McDonald’s Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a $1.77 dividend. This is an increase 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%.

Analysts Set New Price Targets

MCD has been the topic of several analyst reports. BMO Capital Markets lifted their price target on shares of McDonald’s from $315.00 to $335.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Stifel Nicolaus dropped their price target on shares of McDonald’s from $285.00 to $265.00 and set a “hold” rating on the stock in a research note on Monday, July 22nd. Tigress Financial lifted their price target on shares of McDonald’s from $355.00 to $360.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. TD Cowen reissued a “hold” rating and issued a $300.00 target price on shares of McDonald’s in a research report on Tuesday, October 29th. Finally, Truist Financial dropped their target price on shares of McDonald’s from $350.00 to $342.00 and set a “buy” rating for the company in a research report on Wednesday, October 30th. Thirteen equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $319.46.

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.