Falcon Wealth Planning Grows Position in McDonald’s Co. (NYSE:MCD)

Falcon Wealth Planning raised its holdings in McDonald’s Co. (NYSE:MCD) by 2.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,671 shares of the fast-food giant’s stock after purchasing an additional 45 shares during the period. Falcon Wealth Planning’s holdings in McDonald’s were worth $509,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Hantz Financial Services Inc. purchased a new position in McDonald’s during the 2nd quarter valued at about $6,612,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in shares of McDonald’s by 58.9% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 138,102 shares of the fast-food giant’s stock valued at $35,194,000 after acquiring an additional 51,210 shares during the period. U.S. Capital Wealth Advisors LLC grew its stake in McDonald’s by 6.5% during the third quarter. U.S. Capital Wealth Advisors LLC now owns 49,186 shares of the fast-food giant’s stock valued at $14,978,000 after acquiring an additional 2,997 shares in the last quarter. First Financial Bankshares Inc increased its holdings in McDonald’s by 11.7% during the 3rd quarter. First Financial Bankshares Inc now owns 313,961 shares of the fast-food giant’s stock worth $95,604,000 after acquiring an additional 32,890 shares during the period. Finally, First Long Island Investors LLC lifted its stake in McDonald’s by 16.6% in the 1st quarter. First Long Island Investors LLC now owns 54,021 shares of the fast-food giant’s stock worth $15,231,000 after purchasing an additional 7,707 shares in the last quarter. Institutional investors own 70.29% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Wells Fargo & Company upped their price target on shares of McDonald’s from $285.00 to $350.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Truist Financial decreased their target price on McDonald’s from $350.00 to $342.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. Loop Capital reiterated a “buy” rating on shares of McDonald’s in a research report on Friday, October 18th. The Goldman Sachs Group upped their price objective on shares of McDonald’s from $284.00 to $325.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 24th. Finally, Jefferies Financial Group lifted their target price on shares of McDonald’s from $310.00 to $330.00 and gave the company 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 stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $319.46.

Insider Buying and Selling

In other news, CEO Christopher J. Kempczinski sold 11,727 shares of the 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 sale, the chief executive officer now directly owns 49,885 shares of the company’s stock, valued at approximately $14,966,996.55. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, EVP Marion K. Gross sold 1,498 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $286.36, for a total transaction of $428,967.28. Following the completion of the transaction, 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 Securities & Exchange Commission, which is available at the SEC website. Also, 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 value of $3,518,451.81. Following the transaction, the chief executive officer now directly owns 49,885 shares in the company, valued at $14,966,996.55. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 34,097 shares of company stock valued at $10,256,818 over the last quarter. Corporate insiders own 0.23% of the company’s stock.

McDonald’s Price Performance

McDonald’s stock traded up $2.25 during trading hours on Tuesday, reaching $295.10. The stock had a trading volume of 378,135 shares, compared to its average volume of 3,511,873. The company has a fifty day simple moving average of $298.45 and a 200-day simple moving average of $276.05. The stock has a market cap of $211.69 billion, a PE ratio of 25.71, a PEG ratio of 3.92 and a beta of 0.74. McDonald’s Co. has a 52 week low of $243.53 and a 52 week high of $317.90.

McDonald’s (NYSE:MCD) last issued its quarterly earnings data 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 business had revenue of $6.87 billion during the quarter, compared to analyst estimates of $6.82 billion. During the same period in the prior year, the business earned $3.19 EPS. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. Research analysts predict that McDonald’s Co. will post 11.77 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. Stockholders of record on Monday, December 2nd will be issued a dividend of $1.77 per share. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date of this dividend is Monday, December 2nd. This is a boost from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s payout ratio is 58.65%.

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.