Carmel Capital Partners LLC Has $727,000 Stock Holdings in McDonald’s Co. (NYSE:MCD)

Carmel Capital Partners LLC boosted its position in McDonald’s Co. (NYSE:MCD) by 4.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,388 shares of the fast-food giant’s stock after buying an additional 101 shares during the quarter. Carmel Capital Partners LLC’s holdings in McDonald’s were worth $727,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Westchester Capital Management Inc. raised its position in McDonald’s by 0.5% in the 3rd quarter. Westchester Capital Management Inc. now owns 52,508 shares of the fast-food giant’s stock valued at $15,989,000 after buying an additional 244 shares during the last quarter. Lindbrook Capital LLC raised its position in McDonald’s by 9.5% in the 3rd quarter. Lindbrook Capital LLC now owns 5,699 shares of the fast-food giant’s stock valued at $1,735,000 after buying an additional 493 shares during the last quarter. Klingman & Associates LLC raised its position in McDonald’s by 49.7% in the 3rd quarter. Klingman & Associates LLC now owns 4,226 shares of the fast-food giant’s stock valued at $1,287,000 after buying an additional 1,403 shares during the last quarter. Assetmark Inc. raised its position in McDonald’s by 28.1% in the 3rd quarter. Assetmark Inc. now owns 54,070 shares of the fast-food giant’s stock valued at $16,465,000 after buying an additional 11,867 shares during the last quarter. Finally, Rockbridge Investment Management LCC acquired a new stake in McDonald’s in the 3rd quarter valued at approximately $246,000. Institutional investors and hedge funds own 70.29% of the company’s stock.

Insider Buying and Selling at McDonald’s

In other McDonald’s news, CEO Christopher J. Kempczinski sold 11,727 shares of McDonald’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 transaction, the chief executive officer now directly owns 49,885 shares of the company’s stock, valued at $14,966,996.55. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Christopher J. Kempczinski sold 9,291 shares of the business’s stock in a transaction on Friday, September 27th. The stock was sold at an average price of $305.00, for a total transaction of $2,833,755.00. Following the completion of the transaction, the chief executive officer now owns 43,256 shares of the company’s stock, valued at approximately $13,193,080. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Christopher J. Kempczinski sold 11,727 shares of the business’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 transaction, the chief executive officer now directly owns 49,885 shares of the company’s stock, valued at $14,966,996.55. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 35,596 shares of company stock valued at $10,698,289 in the last three months. Corporate insiders own 0.23% of the company’s stock.

McDonald’s Price Performance

MCD opened at $298.97 on Friday. The business has a fifty day simple moving average of $299.08 and a 200 day simple moving average of $276.64. The company has a market capitalization of $214.46 billion, a PE ratio of 26.25, a price-to-earnings-growth ratio of 3.91 and a beta of 0.74. McDonald’s Co. has a 1 year low of $243.53 and a 1 year high of $317.90.

McDonald’s (NYSE:MCD) last released its quarterly earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.18 by $0.05. The business had revenue of $6.87 billion during the quarter, compared to the consensus estimate of $6.82 billion. McDonald’s had a negative return on equity of 178.99% and a net margin of 31.79%. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the company posted $3.19 EPS. Equities analysts anticipate that McDonald’s Co. will post 11.77 earnings per share for the current fiscal year.

McDonald’s Increases Dividend

The business 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. 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. This represents a $7.08 annualized dividend and a yield of 2.37%. McDonald’s’s payout ratio is currently 58.65%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on MCD shares. KeyCorp lifted their target price on McDonald’s from $305.00 to $330.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Truist Financial decreased their price target on McDonald’s from $350.00 to $342.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. Barclays raised their price target on McDonald’s from $300.00 to $325.00 and gave the company an “overweight” rating in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. raised their price target on McDonald’s from $270.00 to $290.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Finally, Loop Capital restated a “buy” rating on shares of McDonald’s in a research note on Friday, October 18th. Thirteen investment 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 stock currently 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.