Godsey & Gibb Inc. Has $296,000 Stock Holdings in McDonald’s Co. (NYSE:MCD)

Godsey & Gibb Inc. cut its position in McDonald’s Co. (NYSE:MCD) by 19.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 972 shares of the fast-food giant’s stock after selling 238 shares during the period. Godsey & Gibb Inc.’s holdings in McDonald’s were worth $296,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC raised its holdings in McDonald’s by 21.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 140,807 shares of the fast-food giant’s stock worth $42,877,000 after purchasing an additional 24,787 shares during the period. Compass Ion Advisors LLC raised its holdings in McDonald’s by 5.7% in the third quarter. Compass Ion Advisors LLC now owns 1,696 shares of the fast-food giant’s stock worth $516,000 after purchasing an additional 91 shares during the period. Vest Financial LLC raised its holdings in McDonald’s by 20.1% in the third quarter. Vest Financial LLC now owns 194,322 shares of the fast-food giant’s stock worth $59,173,000 after purchasing an additional 32,456 shares during the period. Capital Wealth Management LLC acquired a new stake in McDonald’s in the third quarter worth $210,000. Finally, Buckley Wealth Management LLC raised its holdings in McDonald’s by 9.0% in the third quarter. Buckley Wealth Management LLC now owns 4,356 shares of the fast-food giant’s stock worth $1,327,000 after purchasing an additional 360 shares during the period. 70.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Joseph M. Erlinger sold 1,099 shares of McDonald’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $260.00, for a total transaction of $285,740.00. Following the completion of the sale, the insider now owns 13,681 shares of the company’s stock, valued at approximately $3,557,060. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other McDonald’s news, insider Joseph M. Erlinger sold 1,098 shares of McDonald’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $288.70, for a total value of $316,992.60. Following the completion of the sale, the insider now owns 12,583 shares in the company, valued at $3,632,712.10. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Joseph M. Erlinger sold 1,099 shares of McDonald’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $260.00, for a total transaction of $285,740.00. Following the completion of the sale, the insider now owns 13,681 shares of the company’s stock, valued at $3,557,060. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 34,097 shares of company stock valued at $10,221,233. Company insiders own 0.23% of the company’s stock.

McDonald’s Price Performance

Shares of MCD opened at $316.56 on Monday. The firm has a 50-day moving average of $294.62 and a 200-day moving average of $273.69. McDonald’s Co. has a one year low of $243.53 and a one year high of $317.18. The company has a market cap of $228.14 billion, a PE ratio of 26.87, a price-to-earnings-growth ratio of 4.05 and a beta of 0.73.

McDonald’s (NYSE:MCD) last announced its earnings results on Monday, July 29th. The fast-food giant reported $2.97 EPS for the quarter, missing the consensus estimate of $3.07 by ($0.10). The company had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.62 billion. McDonald’s had a negative return on equity of 178.68% and a net margin of 32.25%. The business’s quarterly revenue was down .1% on a year-over-year basis. During the same period in the previous year, the firm posted $3.17 EPS. Analysts expect that McDonald’s Co. will post 11.71 earnings per share 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 is an increase from McDonald’s’s previous quarterly dividend of $1.67. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $7.08 annualized dividend and a dividend yield of 2.24%. McDonald’s’s payout ratio is presently 60.10%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on MCD. Deutsche Bank Aktiengesellschaft cut their target price on shares of McDonald’s from $295.00 to $290.00 and set a “buy” rating on the stock in a report on Tuesday, July 30th. Barclays dropped their price objective on shares of McDonald’s from $320.00 to $300.00 and set an “overweight” rating on the stock in a report on Tuesday, July 30th. Truist Financial raised their price objective on shares of McDonald’s from $295.00 to $350.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Robert W. Baird raised their price objective on shares of McDonald’s from $280.00 to $320.00 and gave the stock an “outperform” rating in a report on Thursday, September 26th. Finally, Wedbush restated an “outperform” rating and set a $295.00 price objective on shares of McDonald’s in a report on Monday, July 29th. Ten analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $315.69.

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.