Mattern Wealth Management LLC Cuts Stock Holdings in McDonald’s Co. (NYSE:MCD)

Mattern Wealth Management LLC lessened its holdings in shares of McDonald’s Co. (NYSE:MCD) by 29.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,634 shares of the fast-food giant’s stock after selling 3,931 shares during the quarter. Mattern Wealth Management LLC’s holdings in McDonald’s were worth $2,934,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Dixon Mitchell Investment Counsel Inc. purchased a new stake in McDonald’s in the 1st quarter valued at about $28,000. Kings Path Partners LLC bought a new position in shares of McDonald’s in the second quarter worth $38,000. Keener Financial Planning LLC boosted its stake in McDonald’s by 32.3% during the first quarter. Keener Financial Planning LLC now owns 176 shares of the fast-food giant’s stock valued at $50,000 after buying an additional 43 shares in the last quarter. Opal Wealth Advisors LLC bought a new position in McDonald’s during the second quarter valued at about $59,000. Finally, Redmont Wealth Advisors LLC acquired a new position in shares of McDonald’s in the 1st quarter valued at $69,000. Institutional investors and hedge funds own 70.29% of the company’s stock.

Insider Activity at McDonald’s

In other McDonald’s news, CMO Edith Morgan Flatley sold 2,346 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $310.00, for a total transaction of $727,260.00. Following the completion of the transaction, the chief marketing officer now owns 2,905 shares of the company’s stock, valued at approximately $900,550. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 value of $2,833,755.00. Following the sale, 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 position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CMO Edith Morgan Flatley sold 2,346 shares of the company’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $310.00, for a total transaction of $727,260.00. Following the transaction, the chief marketing officer now owns 2,905 shares in the company, valued at $900,550. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 32,998 shares of company stock valued at $9,935,493 over the last 90 days. 0.23% of the stock is owned by insiders.

McDonald’s Trading Down 0.3 %

McDonald’s stock traded down $0.89 during midday trading on Tuesday, reaching $314.00. The stock had a trading volume of 543,503 shares, compared to its average volume of 3,338,326. McDonald’s Co. has a 12 month low of $243.53 and a 12 month high of $317.90. The company has a market capitalization of $226.29 billion, a P/E ratio of 26.73, a PEG ratio of 4.05 and a beta of 0.73. The company has a fifty day moving average price of $295.53 and a two-hundred day moving average price of $274.01.

McDonald’s (NYSE:MCD) last issued 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). McDonald’s had a negative return on equity of 178.68% and a net margin of 32.25%. The company had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.62 billion. During the same period in the prior year, the firm posted $3.17 earnings per share. The business’s revenue for the quarter was down .1% on a year-over-year basis. On average, equities research analysts predict that McDonald’s Co. will post 11.71 earnings per share for the current fiscal 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 paid a $1.77 dividend. This represents a $7.08 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date of this dividend is Monday, December 2nd. This is a boost from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s dividend payout ratio is currently 60.10%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on MCD shares. JPMorgan Chase & Co. increased their price objective on McDonald’s from $270.00 to $290.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. Tigress Financial lifted their price objective on McDonald’s from $355.00 to $360.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Loop Capital reaffirmed a “buy” rating on shares of McDonald’s in a research note on Friday. Robert W. Baird boosted their price target on McDonald’s from $280.00 to $320.00 and gave the company an “outperform” rating in a report on Thursday, September 26th. Finally, The Goldman Sachs Group boosted their price target on McDonald’s from $284.00 to $325.00 and gave the company a “neutral” rating in a report on Tuesday, September 24th. Ten equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $318.59.

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.