Magnus Financial Group LLC Sells 34 Shares of McDonald’s Co. (NYSE:MCD)

15 Oct 2024, 22:02 by Amy Steele · The Cerbat Gem

Magnus Financial Group LLC lessened its position in shares of McDonald’s Co. (NYSE:MCD – Free Report) by 0.7% in the third quarter, Holdings Channel.com reports. The firm owned 4,976 shares of the fast-food giant’s stock after selling 34 shares during the period. Magnus Financial Group LLC’s holdings in McDonald’s were worth $1,515,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Hantz Financial Services Inc. acquired a new position in McDonald’s during the second quarter worth $6,612,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in shares of McDonald’s by 58.9% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 138,102 shares of the fast-food giant’s stock worth $35,194,000 after buying an additional 51,210 shares during the last quarter. BNP Paribas bought a new position in shares of McDonald’s in the 1st quarter valued at about $7,898,000. First Long Island Investors LLC increased its position in shares of McDonald’s by 16.6% in the first quarter. First Long Island Investors LLC now owns 54,021 shares of the fast-food giant’s stock valued at $15,231,000 after acquiring an additional 7,707 shares during the last quarter. Finally, Lloyd Advisory Services LLC. raised its holdings in McDonald’s by 504.6% during the first quarter. Lloyd Advisory Services LLC. now owns 9,165 shares of the fast-food giant’s stock worth $2,584,000 after acquiring an additional 7,649 shares in the last quarter. Institutional investors and hedge funds own 70.29% of the company’s stock.

Wall Street Analysts Forecast Growth

MCD has been the topic of several recent analyst reports. Robert W. Baird boosted their price target on McDonald’s from $280.00 to $320.00 and gave the stock an “outperform” rating in a research report on Thursday, September 26th. Citigroup upped their price target on shares of McDonald’s from $301.00 to $317.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. UBS Group lifted their price objective on shares of McDonald’s from $305.00 to $345.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Argus raised shares of McDonald’s from a “hold” rating to a “buy” rating in a report on Tuesday, October 8th. Finally, Guggenheim lifted their price target on McDonald’s from $280.00 to $290.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Ten equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $314.92.

View Our Latest Research Report on MCD

McDonald’s Stock Performance

Shares of NYSE MCD traded up $3.48 during midday trading on Tuesday, reaching $313.32. The company’s stock had a trading volume of 3,066,489 shares, compared to its average volume of 3,369,963. The company has a market cap of $225.80 billion, a P/E ratio of 26.61, a P/E/G ratio of 4.05 and a beta of 0.73. The business’s 50 day moving average price is $291.04 and its two-hundred day moving average price is $272.69. McDonald’s Co. has a fifty-two week low of $243.53 and a fifty-two week high of $315.36.

McDonald’s (NYSE:MCD – Get Free Report) last posted its quarterly earnings data 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). The company had revenue of $6.49 billion for the quarter, compared to the consensus estimate 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 revenue was down .1% on a year-over-year basis. During the same quarter last year, the business earned $3.17 EPS. Sell-side analysts forecast that McDonald’s Co. will post 11.71 earnings per share for the current fiscal year.

McDonald’s Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a dividend of $1.77 per share. This is a boost from McDonald’s’s previous quarterly dividend of $1.67. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $7.08 annualized dividend and a yield of 2.26%. McDonald’s’s dividend payout ratio is currently 60.10%.

Insider Buying and Selling

In related news, CEO Christopher J. Kempczinski sold 11,727 shares of the stock in a transaction that occurred on Monday, September 23rd. The shares were 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 in the company, valued at approximately $14,966,996.55. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other McDonald’s news, CEO Christopher J. Kempczinski sold 9,291 shares of the business’s stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $305.00, for a total transaction of $2,833,755.00. Following the completion of the transaction, the chief executive officer now owns 43,256 shares of the company’s stock, valued at approximately $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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Christopher J. Kempczinski sold 11,727 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $300.03, for a total transaction of $3,518,451.81. Following the completion of the sale, the chief executive officer now owns 49,885 shares in the company, valued at approximately $14,966,996.55. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,097 shares of company stock valued at $10,221,233 over the last quarter. 0.23% of the stock is owned by company insiders.

McDonald’s Company 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.