IRON Financial LLC Sells 2,708 Shares of McDonald’s Corporation $MCD

IRON Financial LLC lowered its position in McDonald’s Corporation (NYSE:MCDFree Report) by 75.5% in the 3rd quarter, HoldingsChannel reports. The fund owned 878 shares of the fast-food giant’s stock after selling 2,708 shares during the period. IRON Financial LLC’s holdings in McDonald’s were worth $267,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Norges Bank bought a new stake in shares of McDonald’s in the second quarter valued at approximately $2,780,712,000. Laurel Wealth Advisors LLC grew its stake in McDonald’s by 29,382.3% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 5,737,548 shares of the fast-food giant’s stock valued at $1,676,339,000 after buying an additional 5,718,087 shares in the last quarter. Soundwatch Capital LLC bought a new stake in McDonald’s during the 2nd quarter valued at $1,412,069,000. Viking Global Investors LP lifted its position in shares of McDonald’s by 171.7% during the second quarter. Viking Global Investors LP now owns 3,125,432 shares of the fast-food giant’s stock worth $913,157,000 after acquiring an additional 1,974,998 shares in the last quarter. Finally, Amundi lifted its position in shares of McDonald’s by 96.0% during the second quarter. Amundi now owns 4,032,676 shares of the fast-food giant’s stock worth $1,188,147,000 after acquiring an additional 1,974,751 shares in the last quarter. Institutional investors own 70.29% of the company’s stock.

Analyst Ratings Changes

MCD has been the topic of a number of analyst reports. Morgan Stanley set a $335.00 price objective on McDonald’s in a research note on Friday, October 17th. Cowen reaffirmed a “hold” rating on shares of McDonald’s in a report on Thursday. Citigroup lowered their price target on shares of McDonald’s from $381.00 to $375.00 and set a “buy” rating on the stock in a report on Tuesday, October 21st. Wells Fargo & Company boosted their price objective on shares of McDonald’s from $340.00 to $345.00 and gave the company an “overweight” rating in a research note on Thursday, November 6th. Finally, Truist Financial upped their target price on shares of McDonald’s from $350.00 to $356.00 and gave the stock a “buy” rating in a report on Thursday. Thirteen equities research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $328.88.

Get Our Latest Research Report on MCD

McDonald’s Trading Down 0.5%

Shares of NYSE MCD opened at $307.27 on Friday. The business has a 50-day moving average of $307.93 and a 200-day moving average of $304.88. The firm has a market capitalization of $218.82 billion, a price-to-earnings ratio of 26.22, a PEG ratio of 3.05 and a beta of 0.53. McDonald’s Corporation has a 12 month low of $276.53 and a 12 month high of $326.32.

McDonald’s (NYSE:MCDGet Free Report) last announced its earnings results on Wednesday, November 5th. The fast-food giant reported $3.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.33 by ($0.11). The company had revenue of $7.08 billion for the quarter, compared to the consensus estimate of $7.10 billion. McDonald’s had a net margin of 32.04% and a negative return on equity of 280.89%. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.23 earnings per share. On average, analysts predict that McDonald’s Corporation will post 12.25 earnings per share for the current year.

McDonald’s Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 1st were paid a $1.86 dividend. This is a boost from McDonald’s’s previous quarterly dividend of $1.77. This represents a $7.44 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend was Monday, December 1st. McDonald’s’s payout ratio is currently 63.48%.

Insider Transactions at McDonald’s

In other McDonald’s news, CFO Ian Frederick Borden sold 17,134 shares of McDonald’s stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $310.00, for a total transaction of $5,311,540.00. Following the completion of the sale, the chief financial officer owned 26,353 shares of the company’s stock, valued at $8,169,430. The trade was a 39.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Desiree Ralls-Morrison sold 2,486 shares of the company’s stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $320.00, for a total value of $795,520.00. Following the completion of the transaction, the executive vice president owned 6,268 shares of the company’s stock, valued at $2,005,760. The trade was a 28.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 42,516 shares of company stock worth $13,036,090. Company insiders own 0.25% of the company’s stock.

More McDonald’s News

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About McDonald’s

(Free Report)

McDonald’s Corporation (NYSE: MCD) is a global quick-service restaurant company best known for its hamburgers, French fries and breakfast offerings. The company develops, operates and franchises a system of restaurants that sell a range of food and beverage items, including signature products such as the Big Mac, Quarter Pounder, Chicken McNuggets, McCafé coffee beverages and a variety of salads, desserts and seasonal menu items. McDonald’s serves customers through company-operated restaurants and franchised locations, and it supports sales via dine-in, drive-thru, digital ordering platforms and third-party delivery partnerships.

Founded in 1940 by brothers Richard and Maurice McDonald as a single San Bernardino, California restaurant, the business was transformed into a franchising model after Ray Kroc joined in the mid-1950s and led the brand’s national and international expansion.

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Institutional Ownership by Quarter for McDonald's (NYSE:MCD)

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