Daymark Wealth Partners LLC Sells 900 Shares of McDonald’s Co. (NYSE:MCD)

Daymark Wealth Partners LLC lowered its stake in McDonald’s Co. (NYSE:MCD) by 0.7% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 136,943 shares of the fast-food giant’s stock after selling 900 shares during the quarter. McDonald’s comprises approximately 1.4% of Daymark Wealth Partners LLC’s holdings, making the stock its 19th largest holding. Daymark Wealth Partners LLC’s holdings in McDonald’s were worth $41,701,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in shares of McDonald’s by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 69,049,310 shares of the fast-food giant’s stock worth $20,473,811,000 after purchasing an additional 599,745 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of McDonald’s by 15.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,347,048 shares of the fast-food giant’s stock valued at $2,178,474,000 after acquiring an additional 987,099 shares during the period. Legal & General Group Plc raised its position in shares of McDonald’s by 3.2% in the 2nd quarter. Legal & General Group Plc now owns 6,149,080 shares of the fast-food giant’s stock worth $1,567,030,000 after acquiring an additional 188,888 shares in the last quarter. Gallagher Fiduciary Advisors LLC lifted its stake in shares of McDonald’s by 141,160.9% during the 4th quarter. Gallagher Fiduciary Advisors LLC now owns 5,613,710 shares of the fast-food giant’s stock worth $1,664,521,000 after purchasing an additional 5,609,736 shares during the last quarter. Finally, Capital Research Global Investors boosted its position in McDonald’s by 66.9% during the first quarter. Capital Research Global Investors now owns 5,471,007 shares of the fast-food giant’s stock valued at $1,542,550,000 after purchasing an additional 2,193,769 shares in the last quarter. Hedge funds and other institutional investors own 70.29% of the company’s stock.

McDonald’s Stock Up 0.5 %

NYSE:MCD traded up $1.44 on Wednesday, reaching $303.34. 519,358 shares of the company’s stock were exchanged, compared to its average volume of 3,386,310. The firm has a market capitalization of $218.61 billion, a price-to-earnings ratio of 25.63, 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 business has a fifty day moving average of $288.17 and a 200-day moving average of $271.98.

McDonald’s (NYSE:MCD) last released its 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). The business had revenue of $6.49 billion for the quarter, compared to analyst estimates of $6.62 billion. McDonald’s had a negative return on equity of 178.68% and a net margin of 32.25%. McDonald’s’s quarterly revenue was down .1% compared to the same quarter last year. During the same quarter last year, the company earned $3.17 earnings per share. As a group, equities analysts anticipate that McDonald’s Co. will post 11.69 earnings per share for the current year.

McDonald’s Increases Dividend

The firm 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 $1.77 dividend. This is an increase from McDonald’s’s previous quarterly dividend of $1.67. The ex-dividend date is Monday, December 2nd. This represents a $7.08 annualized dividend and a yield of 2.33%. McDonald’s’s dividend payout ratio is 60.10%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on MCD shares. Jefferies Financial Group boosted their price objective on shares of McDonald’s from $310.00 to $330.00 and gave the stock a “buy” rating in a research note on Monday, September 9th. Loop Capital reissued a “buy” rating and issued a $342.00 price target on shares of McDonald’s in a report on Tuesday, September 10th. Tigress Financial lifted their target price on shares of McDonald’s from $355.00 to $360.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Truist Financial lowered their price target on shares of McDonald’s from $300.00 to $295.00 and set a “buy” rating on the stock in a report on Tuesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on shares of McDonald’s from $295.00 to $290.00 and set a “buy” rating on the stock in a research note on Tuesday, July 30th. Ten research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $310.12.

Insider Activity

In related news, insider Joseph M. Erlinger sold 1,099 shares of the firm’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 transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, CEO Christopher J. Kempczinski sold 9,291 shares of the business’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 transaction, the chief executive officer now directly owns 43,256 shares in the company, valued at $13,193,080. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Joseph M. Erlinger sold 1,099 shares of the firm’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 disclosure for this sale can be found here. Over the last three months, insiders sold 31,751 shares of company stock valued at $9,493,973. Insiders own 0.23% of the company’s stock.

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.