Tealwood Asset Management Inc. Has $2.43 Million Stake in McDonald’s Co. (NYSE:MCD)

Tealwood Asset Management Inc. lessened its holdings in shares of McDonald’s Co. (NYSE:MCD) by 1.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,972 shares of the fast-food giant’s stock after selling 104 shares during the period. Tealwood Asset Management Inc.’s holdings in McDonald’s were worth $2,428,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the business. Dixon Mitchell Investment Counsel Inc. bought a new position in McDonald’s in the 1st quarter valued at about $28,000. Kings Path Partners LLC acquired a new position in McDonald’s during the second quarter valued at approximately $38,000. Accent Capital Management LLC bought a new stake in McDonald’s during the fourth quarter worth $44,000. Transcendent Capital Group LLC bought a new position in shares of McDonald’s in the 4th quarter valued at $45,000. Finally, Keener Financial Planning LLC increased its stake in shares of McDonald’s by 32.3% in the 1st 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 during the last quarter. 70.29% of the stock is owned by institutional investors.

Insider Buying and Selling at McDonald’s

In related news, CEO Christopher J. Kempczinski sold 11,727 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $14,966,996.55. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other McDonald’s news, CEO Christopher J. Kempczinski sold 9,291 shares of the company’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $305.00, for a total transaction of $2,833,755.00. Following the sale, the chief executive officer now directly owns 43,256 shares of the company’s stock, valued at $13,193,080. This represents 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 through this link. Also, CEO Christopher J. Kempczinski sold 11,727 shares of McDonald’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $300.03, for a total transaction of $3,518,451.81. Following the completion of the transaction, the chief executive officer now owns 49,885 shares of the company’s stock, valued at $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 31,751 shares of company stock worth $9,493,973 in the last quarter. 0.23% of the stock is currently owned by company insiders.

McDonald’s Trading Down 0.0 %

NYSE MCD traded down $0.09 during trading hours on Tuesday, hitting $300.76. The company’s stock had a trading volume of 561,823 shares, compared to its average volume of 3,393,139. The company has a market capitalization of $216.75 billion, a PE ratio of 25.54, a price-to-earnings-growth ratio of 3.99 and a beta of 0.73. McDonald’s Co. has a 52 week low of $243.53 and a 52 week high of $306.96. The company’s 50-day simple moving average is $287.46 and its two-hundred day simple moving average is $271.84.

McDonald’s (NYSE:MCD) last released its quarterly earnings results on Monday, July 29th. The fast-food giant reported $2.97 EPS for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.10). McDonald’s had a net margin of 32.25% and a negative return on equity of 178.68%. The company had revenue of $6.49 billion during the quarter, compared to analysts’ expectations of $6.62 billion. During the same period in the previous year, the company posted $3.17 earnings per share. The company’s quarterly revenue was down .1% compared to the same quarter last year. Research analysts anticipate that McDonald’s Co. will post 11.69 EPS for the current fiscal year.

McDonald’s Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a $1.77 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $7.08 annualized dividend and a yield of 2.35%. This is a boost from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s payout ratio is currently 60.10%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on MCD shares. KeyCorp upped their price objective on shares of McDonald’s from $305.00 to $330.00 and gave the stock an “overweight” rating in a research report on Monday. The Goldman Sachs Group upped their price target on shares of McDonald’s from $284.00 to $325.00 and gave the stock a “neutral” rating in a report on Tuesday, September 24th. Guggenheim raised their price objective on McDonald’s from $280.00 to $290.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Stifel Nicolaus lowered their target price on McDonald’s from $285.00 to $265.00 and set a “hold” rating for the company in a report on Monday, July 22nd. Finally, Truist Financial lowered their price objective on McDonald’s from $300.00 to $295.00 and set a “buy” rating for the company in a research note on Tuesday, July 30th. Ten analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $310.12.

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.