Firethorn Wealth Partners LLC Sells 148 Shares of McDonald’s Co. (NYSE:MCD)

Firethorn Wealth Partners LLC trimmed its stake in shares of McDonald’s Co. (NYSE:MCD) by 15.0% during the 3rd quarter, Holdings Channel.com reports. The fund owned 837 shares of the fast-food giant’s stock after selling 148 shares during the quarter. Firethorn Wealth Partners LLC’s holdings in McDonald’s were worth $255,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Legal & General Group Plc grew its holdings in shares of McDonald’s by 3.2% in the second quarter. Legal & General Group Plc now owns 6,149,080 shares of the fast-food giant’s stock worth $1,567,030,000 after purchasing an additional 188,888 shares during the last quarter. Capital Research Global Investors boosted its position in McDonald’s by 66.9% during the 1st quarter. Capital Research Global Investors now owns 5,471,007 shares of the fast-food giant’s stock valued at $1,542,550,000 after buying an additional 2,193,769 shares during the period. Ameriprise Financial Inc. grew its holdings in McDonald’s by 8.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 4,761,625 shares of the fast-food giant’s stock worth $1,216,677,000 after acquiring an additional 354,196 shares during the last quarter. Capital World Investors increased its position in shares of McDonald’s by 39.7% in the first quarter. Capital World Investors now owns 3,565,398 shares of the fast-food giant’s stock valued at $1,005,264,000 after acquiring an additional 1,012,534 shares during the period. Finally, Fayez Sarofim & Co raised its stake in shares of McDonald’s by 0.4% during the first quarter. Fayez Sarofim & Co now owns 2,273,354 shares of the fast-food giant’s stock valued at $640,972,000 after acquiring an additional 8,475 shares during the last quarter. 70.29% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on MCD. BMO Capital Markets cut their target price on McDonald’s from $330.00 to $315.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 30th. Morgan Stanley lifted 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. Loop Capital reissued a “buy” rating and set a $342.00 target price on shares of McDonald’s in a research note on Tuesday, September 10th. UBS Group raised their price target on McDonald’s from $305.00 to $345.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Finally, Truist Financial boosted their price objective on shares of McDonald’s from $295.00 to $350.00 and gave the company a “buy” rating in a research report on Tuesday. Ten analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. Based on data from MarketBeat, McDonald’s currently has an average rating of “Moderate Buy” and an average price target of $315.69.

Insider Transactions at McDonald’s

In related news, CMO Edith Morgan Flatley sold 2,346 shares of the stock in a transaction on Monday, October 14th. The stock was sold at an average price of $310.00, for a total transaction of $727,260.00. Following the sale, the chief marketing officer now directly owns 2,905 shares of the company’s stock, valued at $900,550. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CMO Edith Morgan Flatley sold 2,346 shares of the stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $310.00, for a total transaction of $727,260.00. Following the transaction, the chief marketing officer now owns 2,905 shares in the company, valued at $900,550. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Joseph M. Erlinger sold 1,098 shares of McDonald’s 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 sale, the insider now directly owns 12,583 shares of the company’s stock, valued at approximately $3,632,712.10. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 34,097 shares of company stock worth $10,221,233 over the last quarter. 0.23% of the stock is currently owned by insiders.

McDonald’s Stock Performance

Shares of MCD stock opened at $312.93 on Thursday. The company has a market capitalization of $225.52 billion, a price-to-earnings ratio of 26.56, a price-to-earnings-growth ratio of 4.05 and a beta of 0.73. McDonald’s Co. has a one year low of $243.53 and a one year high of $315.36. The company’s 50-day moving average is $292.77 and its 200 day moving average is $273.19.

McDonald’s (NYSE:MCD) last posted its quarterly earnings results on Monday, July 29th. The fast-food giant reported $2.97 EPS for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.10). McDonald’s had a net margin of 32.25% and a negative return on equity of 178.68%. The firm had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.62 billion. During the same quarter in the previous year, the company earned $3.17 EPS. The company’s quarterly revenue was down .1% compared to the same quarter last year. As a group, research analysts predict that McDonald’s Co. will post 11.71 earnings per share 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 issued a $1.77 dividend. This is a positive change from McDonald’s’s previous quarterly dividend of $1.67. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.26%. McDonald’s’s dividend payout ratio (DPR) is presently 60.10%.

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.