Lake Street Private Wealth LLC Sells 2,810 Shares of McDonald’s Co. (NYSE:MCD)

Lake Street Private Wealth LLC decreased its holdings in shares of McDonald’s Co. (NYSE:MCD) by 25.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,164 shares of the fast-food giant’s stock after selling 2,810 shares during the quarter. Lake Street Private Wealth LLC’s holdings in McDonald’s were worth $2,486,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Dixon Mitchell Investment Counsel Inc. bought a new stake in McDonald’s during the 1st quarter valued at $28,000. Kings Path Partners LLC purchased a new position in shares of McDonald’s during the 2nd quarter valued at $38,000. Keener Financial Planning LLC grew its position in shares of McDonald’s by 32.3% during the 1st quarter. Keener Financial Planning LLC now owns 176 shares of the fast-food giant’s stock valued at $50,000 after purchasing an additional 43 shares in the last quarter. Opal Wealth Advisors LLC purchased a new position in shares of McDonald’s during the 2nd quarter valued at $59,000. Finally, Redmont Wealth Advisors LLC purchased a new position in shares of McDonald’s during the 1st quarter valued at $69,000. Institutional investors own 70.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. TD Cowen restated a “hold” rating and set a $300.00 price target on shares of McDonald’s in a research report on Wednesday. Wells Fargo & Company upped their target price on shares of McDonald’s from $285.00 to $350.00 and gave the stock an “overweight” rating in a research report on Monday. Truist Financial upped their target price on shares of McDonald’s from $295.00 to $350.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Barclays upped their target price on shares of McDonald’s from $300.00 to $325.00 and gave the stock an “overweight” rating in a research report on Tuesday. Finally, The Goldman Sachs Group upped their target price on shares of McDonald’s from $284.00 to $325.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 24th. Twelve investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $318.22.

Insiders Place Their Bets

In other news, insider Joseph M. Erlinger sold 1,098 shares of the 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 sale, the insider now owns 12,583 shares in the company, valued at $3,632,712.10. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider Joseph M. Erlinger sold 1,099 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $298.57, for a total value of $328,128.43. Following the sale, the insider now owns 11,484 shares in the company, valued at approximately $3,428,777.88. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Joseph M. Erlinger sold 1,098 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $288.70, for a total transaction of $316,992.60. Following the completion of the transaction, the insider now owns 12,583 shares in the company, valued at $3,632,712.10. 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 quarter, insiders have sold 32,998 shares of company stock worth $9,935,493. 0.23% of the stock is currently owned by company insiders.

McDonald’s Price Performance

MCD stock traded down $15.30 during trading on Wednesday, reaching $299.39. The company had a trading volume of 9,669,792 shares, compared to its average volume of 3,395,288. McDonald’s Co. has a 52 week low of $243.53 and a 52 week high of $317.90. The company has a market cap of $215.76 billion, a P/E ratio of 25.10, a PEG ratio of 4.05 and a beta of 0.73. The business has a 50 day moving average of $296.41 and a 200 day moving average of $274.34.

McDonald’s (NYSE:MCD) last announced its quarterly earnings data on Monday, July 29th. The fast-food giant reported $2.97 earnings per share for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.10). The business had revenue of $6.49 billion during the quarter, compared to analysts’ expectations of $6.62 billion. McDonald’s had a negative return on equity of 178.68% and a net margin of 32.25%. McDonald’s’s revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter last year, the company posted $3.17 EPS. Research analysts expect that McDonald’s Co. will post 11.71 earnings per share for the current 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 issued a $1.77 dividend. This represents a $7.08 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date of this dividend is Monday, December 2nd. This is a boost from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s dividend payout ratio is 60.10%.

McDonald’s 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.