Trueblood Wealth Management LLC Sells 71 Shares of McDonald’s Co. (NYSE:MCD)

by · The Cerbat Gem

Trueblood Wealth Management LLC cut its holdings in McDonald’s Co. (NYSE:MCD – Free Report) by 1.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,394 shares of the fast-food giant’s stock after selling 71 shares during the period. McDonald’s makes up 1.0% of Trueblood Wealth Management LLC’s portfolio, making the stock its 18th largest position. Trueblood Wealth Management LLC’s holdings in McDonald’s were worth $1,947,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Dixon Mitchell Investment Counsel Inc. bought a new position in shares of McDonald’s during the first quarter valued at about $28,000. Kings Path Partners LLC bought a new position in shares of McDonald’s during the second quarter valued at about $38,000. Keener Financial Planning LLC raised its stake in shares of 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 acquiring an additional 43 shares during the last quarter. Opal Wealth Advisors LLC bought a new position in shares of McDonald’s during the second quarter valued at about $59,000. Finally, Bbjs Financial Advisors LLC bought a new position in shares of McDonald’s during the second quarter valued at about $65,000. 70.29% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

MCD has been the subject of several recent analyst reports. Argus raised shares of McDonald’s from a “hold” rating to a “buy” rating in a research note on Tuesday, October 8th. Baird R W downgraded shares of McDonald’s from a “strong-buy” rating to a “hold” rating in a research note on Wednesday. Barclays increased their price target on shares of McDonald’s from $300.00 to $325.00 and gave the stock an “overweight” rating in a research note on Tuesday. JPMorgan Chase & Co. increased their price target on shares of McDonald’s from $270.00 to $290.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. Finally, Truist Financial increased their price target on shares of McDonald’s from $295.00 to $350.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Thirteen research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $318.22.

View Our Latest Analysis on McDonald’s

Insiders Place Their Bets

In other McDonald’s news, insider Joseph M. Erlinger sold 1,099 shares of McDonald’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $292.38, for a total value of $321,325.62. Following the completion of the sale, the insider now owns 10,385 shares of the company’s stock, valued at approximately $3,036,366.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CMO Edith Morgan Flatley sold 2,346 shares of McDonald’s stock in a transaction 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 transaction, the chief marketing officer now owns 2,905 shares in the company, valued at $900,550. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Joseph M. Erlinger sold 1,099 shares of McDonald’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $292.38, for a total transaction of $321,325.62. Following the transaction, the insider now owns 10,385 shares in the company, valued at $3,036,366.30. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,097 shares of company stock valued at $10,256,818. Company insiders own 0.23% of the company’s stock.

McDonald’s Trading Down 3.0 %

NYSE:MCD opened at $292.50 on Friday. McDonald’s Co. has a 12 month low of $243.53 and a 12 month high of $317.90. The company has a market cap of $210.80 billion, a PE ratio of 24.83, a price-to-earnings-growth ratio of 4.13 and a beta of 0.73. The company has a 50 day simple moving average of $297.78 and a two-hundred day simple moving average of $274.88.

McDonald’s (NYSE:MCD – Get Free Report) last posted its earnings results 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 during the quarter, compared to the consensus estimate of $6.62 billion. During the same period last year, the firm posted $3.17 EPS. The company’s revenue for the quarter was down .1% on a year-over-year basis. Research analysts forecast that McDonald’s Co. will post 11.73 earnings per share for the current year.

McDonald’s Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a $1.77 dividend. This represents a $7.08 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date is Monday, December 2nd. This is an increase from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s payout ratio is 60.10%.

About McDonald’s

(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.

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