Confluence Investment Management LLC Sells 242 Shares of McDonald’s Co. (NYSE:MCD)

08 Nov 2024, 07:12 by Doug Wharley · The Cerbat Gem

Confluence Investment Management LLC lowered its holdings in McDonald’s Co. (NYSE:MCD – Free Report) by 0.3% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 84,325 shares of the fast-food giant’s stock after selling 242 shares during the quarter. Confluence Investment Management LLC’s holdings in McDonald’s were worth $25,678,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in MCD. Legal & General Group Plc boosted its holdings in McDonald’s by 3.2% in the second 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 acquiring an additional 188,888 shares in the last quarter. Capital Research Global Investors lifted its position in shares of McDonald’s by 66.9% in the 1st quarter. Capital Research Global Investors now owns 5,471,007 shares of the fast-food giant’s stock worth $1,542,550,000 after purchasing an additional 2,193,769 shares during the period. Ameriprise Financial Inc. boosted its stake in shares of McDonald’s by 8.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 4,761,625 shares of the fast-food giant’s stock valued at $1,216,677,000 after purchasing an additional 354,196 shares in the last quarter. Capital World Investors increased its position in shares of McDonald’s by 39.7% during the first quarter. Capital World Investors now owns 3,565,398 shares of the fast-food giant’s stock valued at $1,005,264,000 after buying an additional 1,012,534 shares during the period. Finally, International Assets Investment Management LLC raised its stake in McDonald’s by 31,151.1% in the third quarter. International Assets Investment Management LLC now owns 2,319,142 shares of the fast-food giant’s stock worth $706,202,000 after buying an additional 2,311,721 shares in the last quarter. 70.29% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Marion K. Gross sold 1,499 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $294.51, for a total transaction of $441,470.49. Following the sale, the executive vice president now directly owns 1,560 shares in the company, valued at $459,435.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Christopher J. Kempczinski sold 11,727 shares of McDonald’s stock in a transaction that occurred on 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 sale, the chief executive officer now owns 49,885 shares of the company’s stock, valued at approximately $14,966,996.55. This trade represents 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. Also, EVP Marion K. Gross sold 1,499 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $294.51, for a total value of $441,470.49. Following the completion of the transaction, the executive vice president now owns 1,560 shares of the company’s stock, valued at $459,435.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 35,596 shares of company stock worth $10,698,289 over the last three months. 0.23% of the stock is currently owned by company insiders.

McDonald’s Price Performance

Shares of MCD stock opened at $294.68 on Friday. The company has a market cap of $211.39 billion, a price-to-earnings ratio of 25.87, a PEG ratio of 3.89 and a beta of 0.74. McDonald’s Co. has a 1 year low of $243.53 and a 1 year high of $317.90. The firm has a fifty day moving average price of $298.74 and a 200-day moving average price of $276.35.

McDonald’s (NYSE:MCD – Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.18 by $0.05. McDonald’s had a negative return on equity of 178.99% and a net margin of 31.79%. The business had revenue of $6.87 billion during the quarter, compared to analyst estimates of $6.82 billion. During the same quarter in the previous year, the company posted $3.19 earnings per share. McDonald’s’s revenue for the quarter was up 2.7% on a year-over-year basis. Equities research analysts expect that McDonald’s Co. will post 11.77 EPS for the current year.

McDonald’s Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a dividend of $1.77 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $7.08 annualized dividend and a yield of 2.40%. This is an increase from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s payout ratio is currently 62.16%.

Wall Street Analyst Weigh In

MCD has been the topic of a number of research analyst reports. TD Cowen reiterated a “hold” rating and set a $300.00 target price on shares of McDonald’s in a report on Tuesday, October 29th. Wells Fargo & Company upped their price target on McDonald’s from $285.00 to $350.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. Truist Financial lowered their price objective on McDonald’s from $350.00 to $342.00 and set a “buy” rating for the company in a research report on Wednesday, October 30th. Robert W. Baird downgraded shares of McDonald’s from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $320.00 to $290.00 in a research report on Wednesday, October 23rd. Finally, Argus raised shares of McDonald’s from a “hold” rating to a “buy” rating in a research report on Tuesday, October 8th. Thirteen analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $319.46.

View Our Latest Stock Analysis on MCD

About McDonald’s

(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.