BKM Wealth Management LLC Lowers Position in McDonald’s Co. (NYSE:MCD)

26 Oct 2024, 16:10 by Scott Moore · The Cerbat Gem

BKM Wealth Management LLC trimmed its position in shares of McDonald’s Co. (NYSE:MCD – Free Report) by 2.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,683 shares of the fast-food giant’s stock after selling 234 shares during the quarter. McDonald’s accounts for approximately 1.1% of BKM Wealth Management LLC’s portfolio, making the stock its 22nd largest holding. BKM Wealth Management LLC’s holdings in McDonald’s were worth $2,644,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Dixon Mitchell Investment Counsel Inc. bought a new position in McDonald’s in the 1st quarter valued at $28,000. Kings Path Partners LLC bought a new stake in McDonald’s in the second quarter worth about $38,000. Keener Financial Planning LLC boosted its stake in McDonald’s by 32.3% in the first quarter. Keener Financial Planning LLC now owns 176 shares of the fast-food giant’s stock valued at $50,000 after acquiring an additional 43 shares during the last quarter. Opal Wealth Advisors LLC bought a new position in shares of McDonald’s during the 2nd quarter valued at approximately $59,000. Finally, Bbjs Financial Advisors LLC purchased a new stake in shares of McDonald’s during the 2nd quarter worth approximately $65,000. Institutional investors own 70.29% of the company’s stock.

Insider Activity

In other McDonald’s news, CEO Christopher J. Kempczinski sold 11,727 shares of the stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $300.03, for a total transaction of $3,518,451.81. Following the completion of the sale, the chief executive officer now owns 49,885 shares of the company’s stock, valued at $14,966,996.55. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Christopher J. Kempczinski sold 11,727 shares of the firm’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 sale, the chief executive officer now owns 49,885 shares of the company’s stock, valued at $14,966,996.55. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Christopher J. Kempczinski sold 9,291 shares of the company’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 $13,193,080. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 34,097 shares of company stock valued at $10,256,818. 0.23% of the stock is currently owned by company insiders.

Analyst Ratings Changes

MCD has been the topic of several research analyst reports. JPMorgan Chase & Co. upped their price objective on McDonald’s from $270.00 to $290.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Robert W. Baird downgraded McDonald’s from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $320.00 to $290.00 in a research note on Wednesday. Jefferies Financial Group boosted their price objective on McDonald’s from $310.00 to $330.00 and gave the company a “buy” rating in a research note on Monday, September 9th. UBS Group increased their target price on shares of McDonald’s from $305.00 to $345.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Finally, Morgan Stanley boosted their price target on shares of McDonald’s from $296.00 to $340.00 and gave the company an “overweight” rating in a research report on Tuesday, October 15th. 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 MarketBeat.com, McDonald’s has an average rating of “Moderate Buy” and a consensus price target of $318.22.

Read Our Latest Stock Analysis on McDonald’s

McDonald’s Price Performance

NYSE:MCD opened at $292.50 on Friday. McDonald’s Co. has a 1-year low of $243.53 and a 1-year high of $317.90. The business has a 50 day moving average of $297.78 and a 200 day moving average of $274.88. The company has a market capitalization of $210.80 billion, a price-to-earnings ratio of 24.83, a PEG ratio of 4.13 and a beta of 0.73.

McDonald’s (NYSE:MCD – Get Free Report) last posted its quarterly earnings results on Monday, July 29th. The fast-food giant reported $2.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.07 by ($0.10). The business had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.62 billion. McDonald’s had a net margin of 32.25% and a negative return on equity of 178.68%. The business’s quarterly revenue was down .1% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.17 earnings per share. As a group, sell-side analysts anticipate that McDonald’s Co. will post 11.73 EPS for the current 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 given a $1.77 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $7.08 annualized dividend and a yield of 2.42%. This is an increase from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s payout ratio is presently 60.10%.

About McDonald’s

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