Circle Wealth Management LLC Has $900,000 Stock Holdings in McDonald’s Co. (NYSE:MCD)

Circle Wealth Management LLC lowered its stake in shares of McDonald’s Co. (NYSE:MCD) by 5.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,956 shares of the fast-food giant’s stock after selling 170 shares during the period. Circle Wealth Management LLC’s holdings in McDonald’s were worth $900,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in MCD. Virtu Financial LLC acquired a new position in shares of McDonald’s during the first quarter worth approximately $444,000. Westwood Holdings Group Inc. raised its holdings in McDonald’s by 7.1% during the first quarter. Westwood Holdings Group Inc. now owns 6,933 shares of the fast-food giant’s stock worth $1,955,000 after buying an additional 461 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of McDonald’s by 19.0% during the first quarter. EverSource Wealth Advisors LLC now owns 7,499 shares of the fast-food giant’s stock valued at $2,048,000 after buying an additional 1,198 shares during the last quarter. Old Port Advisors lifted its position in McDonald’s by 4.3% in the 1st quarter. Old Port Advisors now owns 1,020 shares of the fast-food giant’s stock valued at $288,000 after acquiring an additional 42 shares in the last quarter. Finally, Bright Futures Wealth Management LLC. purchased a new stake in McDonald’s in the 1st quarter valued at $283,000. Institutional investors own 70.29% of the company’s stock.

McDonald’s Stock Performance

Shares of NYSE:MCD opened at $296.01 on Friday. The firm has a market capitalization of $212.13 billion, a PE ratio of 25.99, a price-to-earnings-growth ratio of 3.92 and a beta of 0.74. McDonald’s Co. has a 52-week low of $243.53 and a 52-week high of $317.90. The firm has a fifty day moving average of $299.96 and a 200 day moving average of $278.95.

McDonald’s (NYSE:MCD) last posted its quarterly earnings data on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.18 by $0.05. The firm had revenue of $6.87 billion during the quarter, compared to analysts’ expectations of $6.82 billion. McDonald’s had a negative return on equity of 175.42% and a net margin of 31.79%. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the prior year, the business earned $3.19 EPS. On average, sell-side analysts forecast that McDonald’s Co. will post 11.77 EPS for the current fiscal year.

McDonald’s Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a $1.77 dividend. This is a boost from McDonald’s’s previous quarterly dividend of $1.67. This represents a $7.08 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date is Monday, December 2nd. McDonald’s’s payout ratio is 58.65%.

Insider Buying and Selling at McDonald’s

In other news, CEO Christopher J. Kempczinski sold 11,727 shares of the firm’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 value of $3,518,451.81. Following the completion of the transaction, the chief executive officer now owns 49,885 shares in the company, valued at $14,966,996.55. This trade represents a 19.03 % decrease in their position. 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 stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $298.57, for a total value of $328,128.43. Following the completion of the transaction, the insider now owns 11,484 shares of the company’s stock, valued at approximately $3,428,777.88. This trade represents a 8.73 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 35,597 shares of company stock worth $10,702,754. 0.23% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on MCD shares. Truist Financial cut their price target on shares of McDonald’s from $350.00 to $342.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Baird R W downgraded McDonald’s from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Loop Capital reaffirmed a “buy” rating on shares of McDonald’s in a research report on Friday, October 18th. Robert W. Baird lowered McDonald’s from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $320.00 to $290.00 in a report on Wednesday, October 23rd. Finally, Morgan Stanley upped their price objective on McDonald’s from $296.00 to $340.00 and gave the company an “overweight” rating in a research note on Tuesday, October 15th. Thirteen analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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.