Borer Denton & Associates Inc. Sells 50 Shares of McDonald’s Co. (NYSE:MCD)

Borer Denton & Associates Inc. lessened its position in McDonald’s Co. (NYSE:MCD) by 0.5% in the third quarter, HoldingsChannel reports. The fund owned 10,886 shares of the fast-food giant’s stock after selling 50 shares during the quarter. McDonald’s makes up approximately 1.1% of Borer Denton & Associates Inc.’s holdings, making the stock its 24th largest holding. Borer Denton & Associates Inc.’s holdings in McDonald’s were worth $3,315,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of MCD. Quent Capital LLC grew its holdings in shares of McDonald’s by 10.4% during the first quarter. Quent Capital LLC now owns 3,006 shares of the fast-food giant’s stock valued at $848,000 after buying an additional 282 shares during the last quarter. Gamco Investors INC. ET AL boosted its stake in McDonald’s by 22.5% during the 1st quarter. Gamco Investors INC. ET AL now owns 2,083 shares of the fast-food giant’s stock valued at $587,000 after purchasing an additional 383 shares during the last quarter. Gabelli Funds LLC boosted its stake in McDonald’s by 40.0% during the 1st quarter. Gabelli Funds LLC now owns 1,050 shares of the fast-food giant’s stock valued at $296,000 after purchasing an additional 300 shares during the last quarter. Mount Yale Investment Advisors LLC increased its holdings in McDonald’s by 43.4% during the 1st quarter. Mount Yale Investment Advisors LLC now owns 3,075 shares of the fast-food giant’s stock worth $867,000 after purchasing an additional 931 shares in the last quarter. Finally, Lavaca Capital LLC raised its stake in shares of McDonald’s by 28.5% in the first quarter. Lavaca Capital LLC now owns 1,335 shares of the fast-food giant’s stock worth $376,000 after purchasing an additional 296 shares during the last quarter. Institutional investors own 70.29% of the company’s stock.

McDonald’s Stock Up 0.6 %

NYSE MCD opened at $290.28 on Friday. The firm has a market cap of $208.02 billion, a P/E ratio of 25.49, a price-to-earnings-growth ratio of 3.84 and a beta of 0.74. The company’s 50 day moving average is $299.85 and its 200-day moving average is $278.13. McDonald’s Co. has a 12-month low of $243.53 and a 12-month high of $317.90.

McDonald’s (NYSE:MCD) last posted its quarterly earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 EPS for the quarter, topping analysts’ consensus estimates of $3.18 by $0.05. McDonald’s had a negative return on equity of 175.42% and a net margin of 31.79%. The firm had revenue of $6.87 billion during the quarter, compared to analyst estimates of $6.82 billion. During the same period last year, the company earned $3.19 earnings per share. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. Equities 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. Stockholders of record on Monday, December 2nd will be issued a $1.77 dividend. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.44%. This is an increase from McDonald’s’s previous quarterly dividend of $1.67. The ex-dividend date is Monday, December 2nd. McDonald’s’s dividend payout ratio is presently 62.16%.

Insider Activity

In other McDonald’s news, EVP Marion K. Gross sold 1,499 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $294.51, for a total value of $441,470.49. Following the sale, the executive vice president now owns 1,560 shares of the company’s stock, valued at $459,435.60. This trade represents a 49.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Joseph M. Erlinger sold 1,099 shares of the business’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $298.57, for a total value of $328,128.43. Following the transaction, the insider now directly owns 11,484 shares of the company’s stock, valued at $3,428,777.88. The trade was a 8.73 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,498 shares of company stock worth $10,381,296. 0.23% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on MCD shares. Robert W. Baird cut McDonald’s from an “outperform” rating to a “neutral” rating and cut their target price for the company from $320.00 to $290.00 in a research report on Wednesday, October 23rd. BMO Capital Markets lifted their price objective on shares of McDonald’s from $315.00 to $335.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Wedbush reiterated an “outperform” rating and issued a $295.00 target price on shares of McDonald’s in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft dropped their price target 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. Finally, Truist Financial reduced their price objective on shares of McDonald’s from $350.00 to $342.00 and set a “buy” rating for the company in a research report on Wednesday, October 30th. Thirteen analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $319.46.

McDonald’s Profile

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.