Continuum Advisory LLC Trims Stock Holdings in McDonald’s Co. (NYSE:MCD)

Continuum Advisory LLC cut its holdings in shares of McDonald’s Co. (NYSE:MCD) by 1.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,069 shares of the fast-food giant’s stock after selling 47 shares during the period. Continuum Advisory LLC’s holdings in McDonald’s were worth $1,215,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. LRI Investments LLC boosted its stake in shares of McDonald’s by 30.4% during the third quarter. LRI Investments LLC now owns 7,418 shares of the fast-food giant’s stock worth $2,215,000 after buying an additional 1,730 shares during the period. PYA Waltman Capital LLC grew its stake in shares of McDonald’s by 4.7% in the 3rd quarter. PYA Waltman Capital LLC now owns 4,327 shares of the fast-food giant’s stock valued at $1,317,000 after purchasing an additional 193 shares during the last quarter. Peloton Wealth Strategists lifted its holdings in shares of McDonald’s by 0.7% during the third quarter. Peloton Wealth Strategists now owns 5,810 shares of the fast-food giant’s stock worth $1,769,000 after purchasing an additional 42 shares during the period. Geller Advisors LLC grew its position in McDonald’s by 3.8% in the 3rd quarter. Geller Advisors LLC now owns 2,732 shares of the fast-food giant’s stock valued at $832,000 after buying an additional 99 shares during the last quarter. Finally, Drucker Wealth 3.0 LLC acquired a new position in McDonald’s in the 3rd quarter valued at $217,000. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Insiders Place Their Bets

In other McDonald’s news, insider Joseph M. Erlinger sold 1,099 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $292.38, for a total transaction of $321,325.62. Following the transaction, the insider now owns 10,385 shares of the company’s stock, valued at approximately $3,036,366.30. This trade represents a 9.57 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CMO Edith Morgan Flatley sold 2,346 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $310.00, for a total transaction of $727,260.00. Following the transaction, the chief marketing officer now owns 2,905 shares in the company, valued at $900,550. This represents a 44.68 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 34,099 shares of company stock worth $10,273,786. Insiders own 0.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. The Goldman Sachs Group lifted their target price 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. Guggenheim downgraded McDonald’s from a “buy” rating to a “neutral” rating and decreased their price target for the company from $290.00 to $285.00 in a research note on Wednesday, October 23rd. Truist Financial cut their price objective on McDonald’s from $350.00 to $342.00 and set a “buy” rating for the company in a research report on Wednesday, October 30th. JPMorgan Chase & Co. upped 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. Finally, Wedbush reissued an “outperform” rating and set a $295.00 price objective on shares of McDonald’s in a report on Wednesday, October 23rd. Thirteen analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $319.64.

McDonald’s Trading Up 0.8 %

Shares of NYSE MCD opened at $301.47 on Tuesday. The company has a market capitalization of $216.04 billion, a price-to-earnings ratio of 26.47, a price-to-earnings-growth ratio of 3.98 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. The business has a 50 day simple moving average of $299.37 and a 200-day simple moving average of $280.30.

McDonald’s (NYSE:MCD) last released its earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $6.87 billion during the quarter, compared to analyst estimates of $6.82 billion. During the same quarter in the previous year, the firm earned $3.19 earnings per share. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. As a group, equities analysts predict that McDonald’s Co. will post 11.77 earnings per share for the current year.

McDonald’s Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a dividend of $1.77 per share. This represents a $7.08 dividend on an annualized basis and a yield of 2.35%. This is a positive change from McDonald’s’s previous quarterly dividend of $1.67. The ex-dividend date of this dividend is Monday, December 2nd. McDonald’s’s payout ratio is presently 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.