First Trust Direct Indexing L.P. Boosts Stake in McDonald’s Co. (NYSE:MCD)

First Trust Direct Indexing L.P. boosted its holdings in McDonald’s Co. (NYSE:MCD) by 19.6% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 30,417 shares of the fast-food giant’s stock after acquiring an additional 4,977 shares during the quarter. McDonald’s comprises approximately 0.5% of First Trust Direct Indexing L.P.’s portfolio, making the stock its 25th biggest holding. First Trust Direct Indexing L.P.’s holdings in McDonald’s were worth $9,262,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Kovack Advisors Inc. increased its stake in McDonald’s by 27.6% in the 1st quarter. Kovack Advisors Inc. now owns 6,373 shares of the fast-food giant’s stock valued at $1,797,000 after purchasing an additional 1,377 shares in the last quarter. Cornerstone Wealth Management LLC raised its stake in shares of McDonald’s by 7.6% during the 1st quarter. Cornerstone Wealth Management LLC now owns 8,471 shares of the fast-food giant’s stock worth $2,389,000 after buying an additional 598 shares during the last quarter. RBA Wealth Management LLC boosted its position in shares of McDonald’s by 1.1% in the 1st quarter. RBA Wealth Management LLC now owns 15,653 shares of the fast-food giant’s stock worth $4,413,000 after buying an additional 164 shares in the last quarter. Core Wealth Partners LLC grew its stake in McDonald’s by 4.2% in the 1st quarter. Core Wealth Partners LLC now owns 2,284 shares of the fast-food giant’s stock valued at $644,000 after acquiring an additional 93 shares during the last quarter. Finally, Tempus Wealth Planning LLC increased its holdings in McDonald’s by 4.5% during the 1st quarter. Tempus Wealth Planning LLC now owns 1,155 shares of the fast-food giant’s stock valued at $326,000 after acquiring an additional 50 shares in the last quarter. Institutional investors and hedge funds own 70.29% of the company’s stock.

Insider Buying and Selling at McDonald’s

In related news, EVP Marion K. Gross sold 1,498 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $286.36, for a total value of $428,967.28. Following the sale, the executive vice president now owns 1,560 shares of the company’s stock, valued at approximately $446,721.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, EVP Marion K. Gross sold 1,498 shares of McDonald’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $286.36, for a total value of $428,967.28. Following the sale, the executive vice president now directly owns 1,560 shares in the company, valued at $446,721.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 sale, 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 position. The disclosure for this sale can be found here. Insiders sold a total of 34,097 shares of company stock worth $10,256,818 over the last ninety days. Company insiders own 0.23% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on MCD shares. Baird R W cut shares of McDonald’s from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Truist Financial cut their price target on McDonald’s from $350.00 to $342.00 and set a “buy” rating for the company in a report on Wednesday. Deutsche Bank Aktiengesellschaft decreased their price objective on McDonald’s from $295.00 to $290.00 and set a “buy” rating on the stock in a research note on Tuesday, July 30th. TD Cowen reissued a “hold” rating and issued a $300.00 target price on shares of McDonald’s in a research note on Tuesday. Finally, Jefferies Financial Group upped their target price on shares of McDonald’s from $310.00 to $330.00 and gave the company a “buy” rating in a report on Monday, September 9th. Thirteen analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $318.67.

McDonald’s Trading Down 0.8 %

MCD stock traded down $2.41 during trading on Wednesday, reaching $292.59. The stock had a trading volume of 1,384,998 shares, compared to its average volume of 3,507,283. The firm has a fifty day moving average price of $298.15 and a 200 day moving average price of $275.35. The company has a market capitalization of $209.89 billion, a P/E ratio of 25.60, a PEG ratio of 4.13 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 results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.18 by $0.05. The firm had revenue of $6.87 billion for the quarter, compared to analysts’ expectations of $6.82 billion. McDonald’s had a net margin of 32.25% and a negative return on equity of 178.68%. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the company posted $3.19 earnings per share. Sell-side analysts predict that McDonald’s Co. will post 11.73 EPS for the current year.

McDonald’s Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a $1.77 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $7.08 dividend on an annualized basis and a yield of 2.42%. This is a boost from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s dividend payout ratio (DPR) is currently 61.94%.

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.