McDonald’s Co. (NYSE:MCD) Shares Sold by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. cut its position in McDonald’s Co. (NYSE:MCD) by 17.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,821 shares of the fast-food giant’s stock after selling 2,128 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in McDonald’s were worth $2,991,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Dixon Mitchell Investment Counsel Inc. purchased a new stake in McDonald’s during the 1st quarter valued at about $28,000. Kings Path Partners LLC acquired a new position in shares of McDonald’s during the 2nd quarter worth approximately $38,000. Keener Financial Planning LLC grew its position in shares of McDonald’s by 32.3% in the first quarter. Keener Financial Planning LLC now owns 176 shares of the fast-food giant’s stock valued at $50,000 after purchasing an additional 43 shares in the last quarter. Opal Wealth Advisors LLC acquired a new stake in shares of McDonald’s in the second quarter valued at approximately $59,000. Finally, Redmont Wealth Advisors LLC purchased a new position in McDonald’s during the first quarter worth approximately $69,000. 70.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Citigroup upped their target price on McDonald’s from $301.00 to $317.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Wedbush reissued an “outperform” rating and issued a $295.00 price objective on shares of McDonald’s in a report on Wednesday. Truist Financial lifted their target price on shares of McDonald’s from $295.00 to $350.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. UBS Group increased their price target on shares of McDonald’s from $305.00 to $345.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Finally, Morgan Stanley lifted their price target on shares of McDonald’s from $296.00 to $340.00 and gave the company an “overweight” rating in a research report on Tuesday, October 15th. Thirteen research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. Based on data from MarketBeat, McDonald’s currently has an average rating of “Moderate Buy” and an average price target of $318.22.

McDonald’s Stock Performance

Shares of MCD opened at $301.61 on Friday. McDonald’s Co. has a 1 year low of $243.53 and a 1 year high of $317.90. The stock has a market capitalization of $217.36 billion, a PE ratio of 25.60, a PEG ratio of 4.05 and a beta of 0.73. The stock has a 50-day simple moving average of $296.97 and a 200-day simple moving average of $274.51.

McDonald’s (NYSE:MCD) last issued its quarterly earnings results on Monday, July 29th. The fast-food giant reported $2.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.10). McDonald’s had a negative return on equity of 178.68% and a net margin of 32.25%. The firm had revenue of $6.49 billion during the quarter, compared to analysts’ expectations of $6.62 billion. During the same quarter in the prior year, the firm earned $3.17 EPS. The firm’s revenue was down .1% compared to the same quarter last year. Analysts predict that McDonald’s Co. will post 11.71 EPS for the current year.

McDonald’s Increases Dividend

The firm 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 $1.77 dividend. This represents a $7.08 annualized dividend and a yield of 2.35%. The ex-dividend date 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 60.10%.

Insiders Place Their Bets

In other news, CEO Christopher J. Kempczinski sold 11,727 shares of the stock in a transaction dated 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 transaction, the chief executive officer now owns 49,885 shares in the company, valued at approximately $14,966,996.55. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other McDonald’s news, CMO Edith Morgan Flatley sold 2,346 shares of the company’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $310.00, for a total value of $727,260.00. Following the completion of the transaction, the chief marketing officer now owns 2,905 shares in the company, valued at $900,550. 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 available at this hyperlink. Also, CEO Christopher J. Kempczinski sold 11,727 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 49,885 shares in the company, valued at approximately $14,966,996.55. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 32,998 shares of company stock valued at $9,935,493 in the last ninety days. Insiders own 0.23% of the company’s stock.

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.