Biltmore Family Office LLC Has $974,000 Stock Position in McDonald’s Co. (NYSE:MCD)

Biltmore Family Office LLC grew its position in shares of McDonald’s Co. (NYSE:MCD) by 17.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,199 shares of the fast-food giant’s stock after buying an additional 478 shares during the quarter. Biltmore Family Office LLC’s holdings in McDonald’s were worth $974,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Kings Path Partners LLC bought a new position in McDonald’s in the 2nd quarter valued at $38,000. Hara Capital LLC bought a new stake in McDonald’s during the 3rd quarter worth about $44,000. Peterson Financial Group Inc. acquired a new stake in McDonald’s in the 3rd quarter valued at about $58,000. Opal Wealth Advisors LLC bought a new position in shares of McDonald’s in the second quarter worth about $59,000. Finally, Bbjs Financial Advisors LLC bought a new stake in shares of McDonald’s during the second quarter valued at approximately $65,000. Institutional investors and hedge funds own 70.29% of the company’s stock.

Analyst Ratings Changes

MCD has been the topic of several research reports. UBS Group upped their price objective on McDonald’s from $305.00 to $345.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Truist Financial decreased their price target on McDonald’s from $350.00 to $342.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Argus raised McDonald’s from a “hold” rating to a “buy” rating in a report on Tuesday, October 8th. Loop Capital reaffirmed a “buy” rating on shares of McDonald’s in a research note on Friday, October 18th. Finally, Jefferies Financial Group boosted their price target on shares of McDonald’s from $310.00 to $330.00 and gave the stock a “buy” rating in a research note on Monday, September 9th. Thirteen equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $319.46.

Insider Activity at McDonald’s

In other news, CMO Edith Morgan Flatley sold 2,346 shares of the business’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 value of $727,260.00. Following the completion of the transaction, the chief marketing officer now directly owns 2,905 shares in the company, valued at approximately $900,550. The trade was a 44.68 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Christopher J. Kempczinski sold 11,727 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $300.03, for a total transaction of $3,518,451.81. Following the sale, the chief executive officer now owns 49,885 shares in the company, valued at $14,966,996.55. This represents a 19.03 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,498 shares of company stock worth $10,381,296. Company insiders own 0.23% of the company’s stock.

McDonald’s Price Performance

Shares of NYSE MCD opened at $288.32 on Friday. McDonald’s Co. has a one year low of $243.53 and a one year high of $317.90. The firm has a market cap of $206.61 billion, a price-to-earnings ratio of 25.31, a P/E/G ratio of 3.87 and a beta of 0.74. The stock’s fifty day moving average price is $299.98 and its two-hundred day moving average price is $277.91.

McDonald’s (NYSE:MCD) last released its quarterly earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 EPS 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 business had revenue of $6.87 billion for the quarter, compared to the consensus estimate of $6.82 billion. During the same period in the prior year, the company posted $3.19 earnings per share. McDonald’s’s revenue was up 2.7% compared to the same quarter last year. On average, equities analysts anticipate that McDonald’s Co. will post 11.77 earnings per share for the current fiscal year.

McDonald’s Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a $1.77 dividend. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.46%. This is an increase 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 58.65%.

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.