McDonald’s Co. (NYSE:MCD) Shares Sold by Aigen Investment Management LP

12 Nov 2024, 12:28 by Amy Steele · The Cerbat Gem

Aigen Investment Management LP decreased its position in shares of McDonald’s Co. (NYSE:MCD – Free Report) by 59.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,199 shares of the fast-food giant’s stock after selling 9,189 shares during the quarter. Aigen Investment Management LP’s holdings in McDonald’s were worth $1,888,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Kings Path Partners LLC purchased a new position in McDonald’s in the 2nd quarter valued at $38,000. Hara Capital LLC acquired a new stake in shares of McDonald’s during the 3rd quarter worth about $44,000. Opal Wealth Advisors LLC acquired a new position in McDonald’s in the 2nd quarter valued at about $59,000. Bbjs Financial Advisors LLC acquired a new position in McDonald’s in the 2nd quarter valued at about $65,000. Finally, Macroview Investment Management LLC boosted its stake in shares of McDonald’s by 433.3% in the 2nd quarter. Macroview Investment Management LLC now owns 256 shares of the fast-food giant’s stock valued at $65,000 after buying an additional 208 shares during the period. Institutional investors and hedge funds own 70.29% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on MCD. Truist Financial decreased their target price 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. JPMorgan Chase & Co. boosted their target price on McDonald’s from $270.00 to $290.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Robert W. Baird lowered McDonald’s from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $320.00 to $290.00 in a report on Wednesday, October 23rd. KeyCorp upped their price objective on McDonald’s from $305.00 to $330.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Finally, Jefferies Financial Group increased their target price on McDonald’s from $310.00 to $330.00 and gave the stock a “buy” rating in a research report on Monday, September 9th. Thirteen research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, McDonald’s has an average rating of “Moderate Buy” and an average price target of $319.46.

Get Our Latest Stock Analysis on MCD

McDonald’s Trading Down 0.6 %

Shares of MCD traded down $1.74 during mid-day trading on Tuesday, reaching $299.79. 177,427 shares of the stock traded hands, compared to its average volume of 3,509,258. The firm has a fifty day moving average price of $299.34 and a 200 day moving average price of $276.82. The company has a market cap of $215.05 billion, a price-to-earnings ratio of 26.47, a price-to-earnings-growth ratio of 3.98 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 – Get Free Report) last announced its earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share (EPS) for the quarter, topping 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 178.99%. The company had revenue of $6.87 billion during the quarter, compared to analyst estimates of $6.82 billion. During the same period in the previous year, the business earned $3.19 earnings per share. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. On average, sell-side analysts anticipate that McDonald’s Co. will post 11.77 EPS for the current year.

McDonald’s Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a $1.77 dividend. The ex-dividend date is Monday, December 2nd. This is a positive change from McDonald’s’s previous quarterly dividend of $1.67. This represents a $7.08 annualized dividend and a yield of 2.36%. McDonald’s’s payout ratio is 58.65%.

Insider Buying and Selling

In other McDonald’s news, EVP Marion K. Gross sold 1,498 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $286.36, for a total value of $428,967.28. Following the completion of the sale, the executive vice president now directly owns 1,560 shares of the company’s stock, valued at $446,721.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other McDonald’s news, EVP Marion K. Gross sold 1,498 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $286.36, for a total value of $428,967.28. Following the completion of the sale, the executive vice president now directly owns 1,560 shares of the company’s stock, valued at $446,721.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Joseph M. Erlinger sold 1,098 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $288.70, for a total transaction of $316,992.60. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 35,596 shares of company stock worth $10,698,289. Corporate insiders own 0.23% of the company’s stock.

McDonald’s Company Profile

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