McDonald’s Co. (NYSE:MCD) Shares Sold by MML Investors Services LLC

MML Investors Services LLC decreased its position in McDonald’s Co. (NYSE:MCD) by 3.5% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 118,290 shares of the fast-food giant’s stock after selling 4,230 shares during the period. MML Investors Services LLC’s holdings in McDonald’s were worth $36,020,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of MCD. Wellington Management Group LLP raised its holdings in McDonald’s by 0.9% in the 3rd quarter. Wellington Management Group LLP now owns 15,082,894 shares of the fast-food giant’s stock worth $4,592,892,000 after purchasing an additional 128,800 shares during the period. Legal & General Group Plc increased its position in shares of 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 buying an additional 188,888 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of McDonald’s by 0.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,564,359 shares of the fast-food giant’s stock worth $1,694,403,000 after buying an additional 49,106 shares during the period. Ameriprise Financial Inc. grew its stake in McDonald’s by 8.0% in 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 acquiring an additional 354,196 shares during the period. Finally, Janus Henderson Group PLC increased its holdings in McDonald’s by 0.7% in the 3rd quarter. Janus Henderson Group PLC now owns 2,765,049 shares of the fast-food giant’s stock worth $841,966,000 after acquiring an additional 19,867 shares in the last quarter. Institutional investors and hedge funds own 70.29% of the company’s stock.

McDonald’s Price Performance

Shares of MCD stock opened at $298.98 on Monday. The company has a 50-day moving average of $299.43 and a two-hundred day moving average of $279.99. The firm has a market cap of $214.26 billion, a PE ratio of 26.25, a price-to-earnings-growth ratio of 3.98 and a beta of 0.73. McDonald’s Co. has a 1-year low of $243.53 and a 1-year high of $317.90.

McDonald’s (NYSE:MCD) last posted its quarterly earnings data on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share 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 net margin of 31.79% and a negative return on equity of 175.42%. During the same quarter last year, the company posted $3.19 EPS. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. Sell-side analysts anticipate that McDonald’s Co. will post 11.77 EPS 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 issued a $1.77 dividend. This represents a $7.08 annualized dividend and a dividend yield of 2.37%. The ex-dividend date of this dividend is Monday, December 2nd. This is an increase from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s payout ratio is currently 62.16%.

Analyst Upgrades and Downgrades

MCD has been the topic of several research analyst reports. BMO Capital Markets lifted their target price on shares of McDonald’s from $315.00 to $335.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. boosted 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. Wells Fargo & Company raised their target price on McDonald’s from $285.00 to $350.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. Wedbush reiterated an “outperform” rating and set a $295.00 price target on shares of McDonald’s in a research report on Wednesday, October 23rd. Finally, Truist Financial decreased their price objective on McDonald’s from $350.00 to $342.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Thirteen equities research 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 company presently has an average rating of “Moderate Buy” and a consensus target price of $319.64.

Insider Activity at McDonald’s

In other McDonald’s news, insider Joseph M. Erlinger sold 1,099 shares of the stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $292.38, for a total transaction of $321,325.62. Following the sale, the insider now directly owns 10,385 shares in the company, valued at $3,036,366.30. This represents a 9.57 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, 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 directly owns 2,905 shares of the company’s stock, valued at $900,550. This represents a 44.68 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 34,099 shares of company stock worth $10,273,786 in the last three months. 0.23% of the stock is owned by company insiders.

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.