Delta Financial Advisors LLC Sells 292 Shares of McDonald’s Co. (NYSE:MCD)

11 Nov 2024, 20:04 by Danessa Lincoln · The Markets Daily

Delta Financial Advisors LLC cut its holdings in shares of McDonald’s Co. (NYSE:MCD – Free Report) by 5.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,068 shares of the fast-food giant’s stock after selling 292 shares during the period. Delta Financial Advisors LLC’s holdings in McDonald’s were worth $1,543,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

A number of equities research analysts have issued reports on MCD shares. BMO Capital Markets upped their price objective on shares of McDonald’s from $315.00 to $335.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. UBS Group upped their target price on McDonald’s from $305.00 to $345.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Bank of America lifted their price target on McDonald’s from $321.00 to $324.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Wedbush restated an “outperform” rating and issued a $295.00 price objective on shares of McDonald’s in a research note on Wednesday, October 23rd. Finally, Citigroup lifted their target price on McDonald’s from $301.00 to $317.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. Thirteen investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $319.46.

Check Out Our Latest Stock Report on MCD

Insiders Place Their Bets

In other news, insider Joseph M. Erlinger sold 1,098 shares of the 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 owns 12,583 shares of the company’s stock, valued at approximately $3,632,712.10. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other McDonald’s news, CMO Edith Morgan Flatley sold 2,346 shares of the stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $310.00, for a total value of $727,260.00. Following the completion of the sale, the chief marketing officer now owns 2,905 shares in the company, valued at approximately $900,550. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Joseph M. Erlinger sold 1,098 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $288.70, for a total value of $316,992.60. Following the transaction, the insider now directly owns 12,583 shares in the company, valued at $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. Insiders have sold 35,596 shares of company stock valued at $10,698,289 in the last ninety days. Company insiders own 0.23% of the company’s stock.

McDonald’s Trading Up 1.5 %

Shares of McDonald’s stock opened at $298.97 on Monday. The business’s 50-day moving average price is $299.08 and its 200-day moving average price is $276.64. The firm has a market capitalization of $214.46 billion, a PE ratio of 26.25, a price-to-earnings-growth ratio of 3.98 and a beta of 0.74. McDonald’s Co. has a 12 month low of $243.53 and a 12 month high of $317.90.

McDonald’s (NYSE:MCD – Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 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 firm had revenue of $6.87 billion for the quarter, compared to the consensus estimate of $6.82 billion. During the same period last year, the firm posted $3.19 earnings per share. The business’s revenue was up 2.7% compared to the same quarter last year. As a group, analysts predict that McDonald’s Co. will post 11.77 earnings per share for the current fiscal 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 issued a dividend of $1.77 per share. The ex-dividend date is Monday, December 2nd. This is a boost from McDonald’s’s previous quarterly dividend of $1.67. This represents a $7.08 annualized dividend and a yield of 2.37%. McDonald’s’s dividend payout ratio is currently 58.65%.

About McDonald’s

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