Iron Gate Global Advisors LLC Decreases Stock Holdings in McDonald’s Co. (NYSE:MCD)

Iron Gate Global Advisors LLC lessened its stake in McDonald’s Co. (NYSE:MCD) by 0.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,849 shares of the fast-food giant’s stock after selling 65 shares during the period. McDonald’s comprises approximately 0.3% of Iron Gate Global Advisors LLC’s investment portfolio, making the stock its 28th largest holding. Iron Gate Global Advisors LLC’s holdings in McDonald’s were worth $2,086,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of MCD. Steigerwald Gordon & Koch Inc. boosted its holdings in McDonald’s by 2.4% in the third quarter. Steigerwald Gordon & Koch Inc. now owns 1,422 shares of the fast-food giant’s stock valued at $433,000 after purchasing an additional 33 shares in the last quarter. Riversedge Advisors LLC raised its stake in shares of McDonald’s by 2.0% in the third quarter. Riversedge Advisors LLC now owns 1,686 shares of the fast-food giant’s stock valued at $513,000 after buying an additional 33 shares during the period. Proquility Private Wealth Partners LLC raised its holdings in shares of McDonald’s by 1.0% in the 3rd quarter. Proquility Private Wealth Partners LLC now owns 3,472 shares of the fast-food giant’s stock valued at $1,057,000 after acquiring an additional 35 shares in the last quarter. Clear Creek Financial Management LLC lifted its stake in shares of McDonald’s by 2.8% in the 3rd quarter. Clear Creek Financial Management LLC now owns 1,300 shares of the fast-food giant’s stock valued at $396,000 after acquiring an additional 35 shares during the last quarter. Finally, GDS Wealth Management boosted its position in shares of McDonald’s by 1.4% during the third quarter. GDS Wealth Management now owns 2,504 shares of the fast-food giant’s stock valued at $762,000 after purchasing an additional 35 shares in the last quarter. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

McDonald’s Stock Performance

NYSE:MCD opened at $292.44 on Tuesday. The company has a 50-day moving average of $299.96 and a 200-day moving average of $279.04. McDonald’s Co. has a 52 week low of $243.53 and a 52 week high of $317.90. The company has a market capitalization of $209.57 billion, a price-to-earnings ratio of 25.68, a PEG ratio of 3.94 and a beta of 0.73.

McDonald’s (NYSE:MCD) last released its earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.18 by $0.05. McDonald’s had a negative return on equity of 175.42% and a net margin of 31.79%. The firm had revenue of $6.87 billion for the quarter, compared to analysts’ expectations of $6.82 billion. During the same quarter in the previous year, the business posted $3.19 earnings per share. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. Sell-side analysts forecast that McDonald’s Co. will post 11.77 EPS for the current year.

McDonald’s Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a dividend of $1.77 per share. This represents a $7.08 dividend on an annualized basis and a yield of 2.42%. 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 58.65%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Barclays upped their price target on McDonald’s from $300.00 to $325.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 22nd. Truist Financial reduced their price objective on McDonald’s from $350.00 to $342.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. Morgan Stanley upped their price objective on McDonald’s from $296.00 to $340.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 15th. Guggenheim cut McDonald’s from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $290.00 to $285.00 in a research report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. boosted their price target on McDonald’s from $270.00 to $290.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. Thirteen analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $319.64.

Insider Buying and Selling

In related news, CMO Edith Morgan Flatley sold 2,346 shares of the stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $310.00, for a total transaction of $727,260.00. Following the completion of the transaction, the chief marketing officer now directly owns 2,905 shares of the company’s stock, valued at $900,550. This represents a 44.68 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Joseph M. Erlinger sold 1,099 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $292.50, for a total transaction of $321,457.50. Following the completion of the sale, the insider now owns 9,286 shares of the company’s stock, valued at approximately $2,716,155. The trade was a 10.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,099 shares of company stock valued at $10,273,786. Corporate 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.