Newbridge Financial Services Group Inc. Sells 306 Shares of McDonald’s Co. (NYSE:MCD)

Newbridge Financial Services Group Inc. cut its stake in McDonald’s Co. (NYSE:MCD) by 7.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,853 shares of the fast-food giant’s stock after selling 306 shares during the period. Newbridge Financial Services Group Inc.’s holdings in McDonald’s were worth $982,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Dixon Mitchell Investment Counsel Inc. acquired a new stake in McDonald’s during the first quarter worth about $28,000. Kings Path Partners LLC acquired a new position in shares of McDonald’s in the 2nd quarter valued at $38,000. Accent Capital Management LLC bought a new position in shares of McDonald’s during the 4th quarter worth about $44,000. Transcendent Capital Group LLC acquired a new stake in shares of McDonald’s during the 4th quarter valued at about $45,000. Finally, Keener Financial Planning LLC increased its stake in 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 acquiring an additional 43 shares during the period. 70.29% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Christopher J. Kempczinski sold 9,291 shares of McDonald’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $305.00, for a total value of $2,833,755.00. Following the completion of the transaction, the chief executive officer now owns 43,256 shares of the company’s stock, valued at approximately $13,193,080. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Christopher J. Kempczinski sold 9,291 shares of the firm’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $305.00, for a total value of $2,833,755.00. Following the completion of the sale, the chief executive officer now directly owns 43,256 shares of the company’s stock, valued at $13,193,080. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Joseph M. Erlinger sold 1,098 shares of the business’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 directly owns 12,583 shares in the company, valued at $3,632,712.10. The disclosure for this sale can be found here. Insiders have sold 31,751 shares of company stock valued at $9,493,973 in the last 90 days. 0.23% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Truist Financial cut their price target on shares of McDonald’s from $300.00 to $295.00 and set a “buy” rating for the company in a research note on Tuesday, July 30th. Wedbush reaffirmed an “outperform” rating and issued a $295.00 price target on shares of McDonald’s in a report on Monday, July 29th. JPMorgan Chase & Co. increased their price objective on shares of McDonald’s from $270.00 to $290.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. Bank of America dropped their target price on shares of McDonald’s from $288.00 to $278.00 and set a “neutral” rating for the company in a research note on Tuesday, July 30th. Finally, KeyCorp decreased their price target on shares of McDonald’s from $310.00 to $305.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 30th. Eleven investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, McDonald’s presently has a consensus rating of “Moderate Buy” and a consensus price target of $308.22.

McDonald’s Stock Performance

Shares of McDonald’s stock opened at $302.98 on Wednesday. McDonald’s Co. has a 52-week low of $243.53 and a 52-week high of $306.96. The business’s 50 day simple moving average is $283.58 and its 200 day simple moving average is $271.26. The firm has a market cap of $218.35 billion, a PE ratio of 25.72, a P/E/G ratio of 3.99 and a beta of 0.72.

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). McDonald’s had a negative return on equity of 178.68% and a net margin of 32.25%. The business had revenue of $6.49 billion for the quarter, compared to analyst estimates of $6.62 billion. During the same quarter in the previous year, the company posted $3.17 EPS. The business’s revenue for the quarter was down .1% compared to the same quarter last year. As a group, equities research analysts predict that McDonald’s Co. will post 11.69 EPS for the current year.

McDonald’s Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given 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 2.34%. McDonald’s’s dividend payout ratio is 56.71%.

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.