McDonald’s Co. (NYSE:MCD) Shares Sold by Castle Rock Wealth Management LLC

by · The Cerbat Gem

Castle Rock Wealth Management LLC trimmed its position in McDonald’s Co. (NYSE:MCD – Free Report) by 6.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,016 shares of the fast-food giant’s stock after selling 211 shares during the period. Castle Rock Wealth Management LLC’s holdings in McDonald’s were worth $916,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in McDonald’s by 0.9% during the fourth 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 in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of McDonald’s by 15.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,347,048 shares of the fast-food giant’s stock worth $2,178,474,000 after buying an additional 987,099 shares in the last quarter. Legal & General Group Plc lifted its holdings 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 valued at $1,567,030,000 after buying an additional 188,888 shares during the period. Gallagher Fiduciary Advisors LLC lifted its holdings in shares of McDonald’s by 141,160.9% in the 4th quarter. Gallagher Fiduciary Advisors LLC now owns 5,613,710 shares of the fast-food giant’s stock valued at $1,664,521,000 after buying an additional 5,609,736 shares during the period. Finally, Capital Research Global Investors boosted its stake in shares of McDonald’s by 66.9% in 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 buying an additional 2,193,769 shares in the last quarter. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft decreased 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 report on Tuesday, July 30th. Truist Financial dropped their target price on shares of McDonald’s from $300.00 to $295.00 and set a “buy” rating for the company in a report on Tuesday, July 30th. Tigress Financial boosted their price target on McDonald’s from $355.00 to $360.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Barclays dropped their price objective on McDonald’s from $320.00 to $300.00 and set an “overweight” rating for the company in a research note on Tuesday, July 30th. Finally, Bank of America decreased their target price on McDonald’s from $288.00 to $278.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 30th. Ten research 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, McDonald’s presently has a consensus rating of “Moderate Buy” and an average target price of $310.50.

Read Our Latest Research Report on McDonald’s

McDonald’s Trading Up 0.1 %

MCD traded up $0.35 during midday trading on Friday, hitting $304.39. The company’s stock had a trading volume of 482,652 shares, compared to its average volume of 3,369,986. McDonald’s Co. has a 52-week low of $243.53 and a 52-week high of $306.96. The firm has a 50-day moving average price of $289.64 and a two-hundred day moving average price of $272.42. The firm has a market cap of $218.35 billion, a P/E ratio of 26.60, a PEG ratio of 4.05 and a beta of 0.73.

McDonald’s (NYSE:MCD – Get Free Report) 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 company had revenue of $6.49 billion during the quarter, compared to analysts’ expectations of $6.62 billion. McDonald’s had a net margin of 32.25% and a negative return on equity of 178.68%. McDonald’s’s revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.17 earnings per share. On average, equities analysts expect that McDonald’s Co. will post 11.71 EPS for the current year.

McDonald’s Increases Dividend

The company also recently announced 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 a positive change from McDonald’s’s previous quarterly dividend of $1.67. This represents a $7.08 annualized dividend and a dividend yield of 2.33%. The ex-dividend date is Monday, December 2nd. McDonald’s’s dividend payout ratio (DPR) is 58.44%.

Insider Activity at McDonald’s

In other news, insider Joseph M. Erlinger sold 1,099 shares of the business’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 completion of the sale, the insider now owns 13,681 shares in the company, valued at approximately $3,557,060. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other McDonald’s news, insider Joseph M. Erlinger sold 1,098 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $3,632,712.10. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Joseph M. Erlinger sold 1,099 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $260.00, for a total value of $285,740.00. Following the transaction, the insider now owns 13,681 shares in the company, valued at approximately $3,557,060. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 31,751 shares of company stock worth $9,493,973. 0.23% of the stock is owned by insiders.

McDonald’s Profile

(Free Report)

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.

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