KPP Advisory Services LLC Reduces Stock Holdings in McDonald’s Co. (NYSE:MCD)

KPP Advisory Services LLC reduced its stake in shares of McDonald’s Co. (NYSE:MCD) by 7.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,348 shares of the fast-food giant’s stock after selling 339 shares during the quarter. KPP Advisory Services LLC’s holdings in McDonald’s were worth $1,324,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Hantz Financial Services Inc. purchased a new stake in shares of McDonald’s during the 2nd quarter valued at about $6,612,000. Kennebec Savings Bank purchased a new stake in shares of McDonald’s during the 3rd quarter valued at about $1,394,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in McDonald’s by 58.9% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 138,102 shares of the fast-food giant’s stock worth $35,194,000 after purchasing an additional 51,210 shares during the last quarter. U.S. Capital Wealth Advisors LLC increased its holdings in McDonald’s by 6.5% during the 3rd quarter. U.S. Capital Wealth Advisors LLC now owns 49,186 shares of the fast-food giant’s stock worth $14,978,000 after purchasing an additional 2,997 shares during the last quarter. Finally, Quintet Private Bank Europe S.A. increased its holdings in McDonald’s by 17.1% during the 3rd quarter. Quintet Private Bank Europe S.A. now owns 49,318 shares of the fast-food giant’s stock worth $15,018,000 after purchasing an additional 7,200 shares during the last quarter. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

McDonald’s Stock Performance

MCD stock traded down $5.93 during midday trading on Friday, hitting $292.63. 4,039,432 shares of the company’s stock were exchanged, compared to its average volume of 3,509,453. The stock’s fifty day moving average price is $300.06 and its 200-day moving average price is $277.42. The company has a market cap of $209.70 billion, a PE ratio of 25.68, a price-to-earnings-growth ratio of 3.95 and a beta of 0.74. McDonald’s Co. has a one year low of $243.53 and a one year high of $317.90.

McDonald’s (NYSE:MCD) last posted its earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share for the quarter, topping the consensus estimate of $3.18 by $0.05. The firm had revenue of $6.87 billion for the quarter, compared to analyst estimates of $6.82 billion. McDonald’s had a negative return on equity of 175.42% and a net margin of 31.79%. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the previous year, the company posted $3.19 earnings per share. On average, analysts expect 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 issued a dividend of $1.77 per share. This represents a $7.08 annualized dividend and a yield of 2.42%. The ex-dividend date of this dividend is Monday, December 2nd. This is a positive change from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s dividend payout ratio is presently 58.65%.

Insider Buying and Selling

In other news, insider Joseph M. Erlinger sold 1,098 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $288.70, for a total value of $316,992.60. Following the transaction, the insider now owns 12,583 shares of the company’s stock, valued at approximately $3,632,712.10. This represents a 8.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Marion K. Gross sold 1,499 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $294.51, for a total value 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 approximately $459,435.60. This trade represents a 49.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 35,596 shares of company stock worth $10,698,289. Corporate insiders own 0.23% of the company’s stock.

Analyst Upgrades and Downgrades

MCD has been the topic of several analyst reports. Guggenheim downgraded McDonald’s from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $290.00 to $285.00 in a report on Wednesday, October 23rd. TD Cowen restated a “hold” rating and set a $300.00 price objective on shares of McDonald’s in a report on Tuesday, October 29th. KeyCorp lifted their price objective on McDonald’s from $305.00 to $330.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Barclays lifted their price objective on McDonald’s from $300.00 to $325.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. Finally, Truist Financial dropped their price objective on McDonald’s from $350.00 to $342.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Thirteen analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $319.46.

McDonald’s Profile

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.