D.B. Root & Company LLC Sells 782 Shares of McDonald’s Co. (NYSE:MCD)

07 Nov 2024, 13:12 by Tristan Rich · The Markets Daily

D.B. Root & Company LLC lessened its holdings in shares of McDonald’s Co. (NYSE:MCD – Free Report) by 18.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,389 shares of the fast-food giant’s stock after selling 782 shares during the period. D.B. Root & Company LLC’s holdings in McDonald’s were worth $1,032,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Kings Path Partners LLC purchased a new position in shares of McDonald’s in the 2nd quarter worth about $38,000. Opal Wealth Advisors LLC purchased a new position in shares of McDonald’s in the 2nd quarter worth about $59,000. Bbjs Financial Advisors LLC purchased a new position in shares of McDonald’s in the 2nd quarter worth about $65,000. Macroview Investment Management LLC raised its position 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 worth $65,000 after purchasing an additional 208 shares during the last quarter. Finally, Unique Wealth Strategies LLC purchased a new position in shares of McDonald’s in the 2nd quarter worth about $81,000. Institutional investors own 70.29% of the company’s stock.

Analyst Upgrades and Downgrades

MCD has been the subject of a number of recent analyst reports. BMO Capital Markets boosted their target price on McDonald’s from $315.00 to $335.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Wells Fargo & Company boosted their target price on McDonald’s from $285.00 to $350.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Baird R W lowered McDonald’s from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. UBS Group boosted their target price on McDonald’s from $305.00 to $345.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Finally, Stifel Nicolaus decreased their target price on McDonald’s from $285.00 to $265.00 and set a “hold” rating for the company in a research report on Monday, July 22nd. Thirteen analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $319.46.

Check Out Our Latest Stock Report on McDonald’s

McDonald’s Stock Performance

MCD opened at $294.00 on Thursday. The stock has a market capitalization of $210.90 billion, a price-to-earnings ratio of 25.81, a PEG ratio of 3.89 and a beta of 0.74. The company has a fifty day moving average of $298.74 and a 200 day moving average of $276.35. McDonald’s Co. has a fifty-two week low of $243.53 and a fifty-two week high of $317.90.

McDonald’s (NYSE:MCD – Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The fast-food giant reported $3.23 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $6.87 billion during the quarter, compared to analysts’ expectations of $6.82 billion. During the same period last year, the company posted $3.19 EPS. The business’s revenue was up 2.7% on a year-over-year basis. On average, equities research analysts forecast that McDonald’s Co. will post 11.77 earnings per share for the current year.

McDonald’s Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a $1.77 dividend. This is a boost from McDonald’s’s previous quarterly dividend of $1.67. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date is Monday, December 2nd. McDonald’s’s dividend payout ratio (DPR) is presently 62.16%.

Insiders Place Their Bets

In other McDonald’s news, CEO Christopher J. Kempczinski sold 11,727 shares of McDonald’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $300.03, for a total value of $3,518,451.81. Following the completion of the transaction, the chief executive officer now directly owns 49,885 shares of the company’s stock, valued at $14,966,996.55. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, CEO Christopher J. Kempczinski sold 11,727 shares of the firm’s stock in a transaction dated Monday, September 23rd. The shares were 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 in the company, valued at approximately $14,966,996.55. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Marion K. Gross sold 1,499 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $294.51, for a total transaction of $441,470.49. Following the completion of the sale, the executive vice president now owns 1,560 shares of the company’s stock, valued at $459,435.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 35,596 shares of company stock valued at $10,698,289 in the last three months. Corporate insiders own 0.23% of the company’s stock.

McDonald’s Company Profile

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