Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Boosts Stock Holdings in McDonald’s Co. (NYSE:MCD)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its holdings in McDonald’s Co. (NYSE:MCD) by 0.1% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 120,131 shares of the fast-food giant’s stock after purchasing an additional 116 shares during the quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in McDonald’s were worth $36,229,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. Kovack Advisors Inc. increased its position in shares of McDonald’s by 27.6% during the first quarter. Kovack Advisors Inc. now owns 6,373 shares of the fast-food giant’s stock worth $1,797,000 after purchasing an additional 1,377 shares in the last quarter. Cornerstone Wealth Management LLC raised its stake in McDonald’s by 7.6% in the first quarter. Cornerstone Wealth Management LLC now owns 8,471 shares of the fast-food giant’s stock valued at $2,389,000 after buying an additional 598 shares during the last quarter. First Trust Direct Indexing L.P. boosted its holdings in McDonald’s by 9.7% in the first quarter. First Trust Direct Indexing L.P. now owns 24,052 shares of the fast-food giant’s stock worth $6,781,000 after acquiring an additional 2,128 shares in the last quarter. RBA Wealth Management LLC grew its stake in shares of McDonald’s by 1.1% during the first quarter. RBA Wealth Management LLC now owns 15,653 shares of the fast-food giant’s stock worth $4,413,000 after acquiring an additional 164 shares during the last quarter. Finally, Core Wealth Partners LLC increased its holdings in shares of McDonald’s by 4.2% during the first quarter. Core Wealth Partners LLC now owns 2,284 shares of the fast-food giant’s stock valued at $644,000 after acquiring an additional 93 shares in the last quarter. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on MCD shares. Truist Financial boosted 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. Tigress Financial boosted their price objective on shares of McDonald’s from $355.00 to $360.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Morgan Stanley lifted their price target on McDonald’s from $296.00 to $340.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 15th. Baird R W lowered McDonald’s from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Finally, Wedbush reaffirmed an “outperform” rating and set a $295.00 target price on shares of McDonald’s in a report on Wednesday, October 23rd. Thirteen research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $318.96.

McDonald’s Price Performance

MCD stock traded down $1.82 during trading on Wednesday, hitting $293.18. The stock had a trading volume of 580,148 shares, compared to its average volume of 3,503,437. McDonald’s Co. has a twelve month low of $243.53 and a twelve month high of $317.90. The company’s 50-day moving average price is $298.15 and its two-hundred day moving average price is $275.35. The stock has a market capitalization of $210.31 billion, a P/E ratio of 25.68, a PEG ratio of 4.13 and a beta of 0.73.

McDonald’s (NYSE:MCD) last announced its quarterly earnings data on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share for the quarter, beating analysts’ consensus estimates of $3.18 by $0.05. The company had revenue of $6.87 billion for the quarter, compared to analyst estimates of $6.82 billion. McDonald’s had a negative return on equity of 178.68% and a net margin of 32.25%. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter last year, the firm posted $3.19 EPS. As a group, sell-side analysts expect that McDonald’s Co. will post 11.73 EPS for the current fiscal year.

McDonald’s Increases Dividend

The firm 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 $1.77 dividend. This represents a $7.08 dividend on an annualized basis and a yield of 2.41%. This is a positive change from McDonald’s’s previous quarterly dividend of $1.67. The ex-dividend date is Monday, December 2nd. McDonald’s’s dividend payout ratio (DPR) is 61.94%.

Insider Transactions at McDonald’s

In related news, EVP Marion K. Gross sold 1,498 shares of McDonald’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $286.36, for a total transaction of $428,967.28. Following the transaction, the executive vice president now owns 1,560 shares in the company, valued at approximately $446,721.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, insider Joseph M. Erlinger sold 1,098 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $288.70, for a total transaction of $316,992.60. Following the completion of the sale, the insider now directly owns 12,583 shares in the company, valued at approximately $3,632,712.10. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Marion K. Gross sold 1,498 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $286.36, for a total transaction of $428,967.28. Following the completion of the transaction, the executive vice president now owns 1,560 shares in the company, valued at $446,721.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 34,097 shares of company stock worth $10,256,818 in the last ninety days. Insiders own 0.23% of the company’s stock.

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.