SMART Wealth LLC Has $657,000 Stock Holdings in McDonald’s Co. (NYSE:MCD)

SMART Wealth LLC trimmed its holdings in shares of McDonald’s Co. (NYSE:MCD) by 6.1% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,157 shares of the fast-food giant’s stock after selling 139 shares during the quarter. SMART Wealth LLC’s holdings in McDonald’s were worth $657,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Kennebec Savings Bank bought a new stake in McDonald’s in the 3rd quarter valued at approximately $1,394,000. Hantz Financial Services Inc. acquired a new stake in McDonald’s in the 2nd quarter valued at $6,612,000. Charles Schwab Investment Management Inc. lifted its position in McDonald’s by 0.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,564,359 shares of the fast-food giant’s stock worth $1,694,403,000 after buying an additional 49,106 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in shares of McDonald’s by 58.9% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 138,102 shares of the fast-food giant’s stock valued at $35,194,000 after acquiring an additional 51,210 shares in the last quarter. Finally, U.S. Capital Wealth Advisors LLC increased its position in shares of McDonald’s by 6.5% in the third quarter. U.S. Capital Wealth Advisors LLC now owns 49,186 shares of the fast-food giant’s stock valued at $14,978,000 after acquiring an additional 2,997 shares during the last quarter. Institutional investors own 70.29% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on MCD. KeyCorp boosted their price target on McDonald’s from $305.00 to $330.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Truist Financial dropped their price target on shares of McDonald’s from $350.00 to $342.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. Evercore ISI lifted their price objective on shares of McDonald’s from $320.00 to $340.00 and gave the company an “outperform” rating in a research report on Tuesday, October 15th. Guggenheim cut shares of McDonald’s from a “buy” rating to a “neutral” rating and dropped their target price for the company from $290.00 to $285.00 in a report on Wednesday, October 23rd. Finally, Citigroup lifted their price target on McDonald’s from $301.00 to $317.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Twelve research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $320.50.

Insider Activity

In related news, CFO Ian Frederick Borden sold 5,939 shares of McDonald’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $300.04, for a total value of $1,781,937.56. Following the sale, the chief financial officer now owns 20,403 shares of the company’s stock, valued at approximately $6,121,716.12. The trade was a 22.55 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Christopher J. Kempczinski sold 11,727 shares of the firm’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $300.03, for a total value of $3,518,451.81. Following the completion of the sale, the chief executive officer now directly owns 49,885 shares of the company’s stock, valued at $14,966,996.55. This represents a 19.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 34,099 shares of company stock valued at $10,273,786 in the last ninety days. 0.23% of the stock is currently owned by insiders.

McDonald’s Trading Down 0.0 %

Shares of NYSE:MCD opened at $296.60 on Monday. The stock has a market cap of $212.55 billion, a PE ratio of 26.04, a price-to-earnings-growth ratio of 3.94 and a beta of 0.73. The stock’s fifty day simple moving average is $298.89 and its two-hundred day simple moving average is $281.50. McDonald’s Co. has a 1-year low of $243.53 and a 1-year high of $317.90.

McDonald’s (NYSE:MCD) last issued its quarterly earnings data on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.18 by $0.05. McDonald’s had a net margin of 31.79% and a negative return on equity of 175.42%. The business had revenue of $6.87 billion during the quarter, compared to the consensus estimate of $6.82 billion. During the same period in the prior year, the firm posted $3.19 EPS. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. On average, sell-side analysts forecast that McDonald’s Co. will post 11.75 earnings per share for the current fiscal year.

McDonald’s Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a $1.77 dividend. This represents a $7.08 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date of this dividend is Monday, December 2nd. This is an increase from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s dividend payout ratio is 62.16%.

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.