Rhumbline Advisers Sells 40,850 Shares of McDonald’s Corporation $MCD

Rhumbline Advisers lowered its stake in shares of McDonald’s Corporation (NYSE:MCDFree Report) by 3.1% during the 3rd quarter, Holdings Channel.com reports. The fund owned 1,284,483 shares of the fast-food giant’s stock after selling 40,850 shares during the quarter. Rhumbline Advisers’ holdings in McDonald’s were worth $390,342,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in the stock. Evergreen Private Wealth LLC raised its stake in McDonald’s by 162.5% during the 3rd quarter. Evergreen Private Wealth LLC now owns 84 shares of the fast-food giant’s stock valued at $26,000 after buying an additional 52 shares during the last quarter. Decker Retirement Planning Inc. lifted its position in shares of McDonald’s by 142.9% during the 2nd quarter. Decker Retirement Planning Inc. now owns 85 shares of the fast-food giant’s stock valued at $25,000 after buying an additional 50 shares in the last quarter. Legacy Investment Solutions LLC purchased a new position in McDonald’s during the second quarter valued at approximately $25,000. Financial Gravity Companies Inc. bought a new position in McDonald’s in the 2nd quarter worth $29,000. Finally, Traub Capital Management LLC purchased a new stake in McDonald’s in the 2nd quarter worth $29,000. 70.29% of the stock is currently owned by institutional investors.

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Insider Buying and Selling at McDonald’s

In related news, EVP Manuel Jm Steijaert sold 6,567 shares of the stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $305.50, for a total value of $2,006,218.50. Following the completion of the transaction, the executive vice president owned 4,606 shares of the company’s stock, valued at approximately $1,407,133. This trade represents a 58.78% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Ian Frederick Borden sold 17,134 shares of the business’s stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $310.00, for a total value of $5,311,540.00. Following the sale, the chief financial officer directly owned 26,353 shares in the company, valued at $8,169,430. The trade was a 39.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 32,008 shares of company stock worth $9,895,452 over the last three months. 0.25% of the stock is owned by company insiders.

Analyst Ratings Changes

MCD has been the topic of several research analyst reports. KeyCorp boosted their price objective on McDonald’s from $335.00 to $340.00 and gave the company an “overweight” rating in a research report on Friday, January 9th. Truist Financial boosted their price target on McDonald’s from $350.00 to $356.00 and gave the stock a “buy” rating in a report on Thursday, January 8th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of McDonald’s in a report on Wednesday, January 28th. Piper Sandler reiterated a “neutral” rating and set a $325.00 price objective on shares of McDonald’s in a research report on Wednesday, October 22nd. Finally, Wells Fargo & Company upped their target price on shares of McDonald’s from $340.00 to $345.00 and gave the stock an “overweight” rating in a research report on Thursday, November 6th. Fourteen investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $332.38.

Read Our Latest Analysis on McDonald’s

McDonald’s Price Performance

NYSE:MCD opened at $326.15 on Wednesday. The company has a market cap of $232.27 billion, a price-to-earnings ratio of 27.83, a PEG ratio of 3.29 and a beta of 0.52. McDonald’s Corporation has a 1 year low of $283.47 and a 1 year high of $328.06. The stock’s 50 day simple moving average is $311.90 and its two-hundred day simple moving average is $307.79.

McDonald’s Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 17th. Investors of record on Tuesday, March 3rd will be paid a dividend of $1.86 per share. The ex-dividend date of this dividend is Tuesday, March 3rd. This represents a $7.44 dividend on an annualized basis and a yield of 2.3%. McDonald’s’s dividend payout ratio is presently 63.48%.

About McDonald’s

(Free Report)

McDonald’s Corporation (NYSE: MCD) is a global quick-service restaurant company best known for its hamburgers, French fries and breakfast offerings. The company develops, operates and franchises a system of restaurants that sell a range of food and beverage items, including signature products such as the Big Mac, Quarter Pounder, Chicken McNuggets, McCafé coffee beverages and a variety of salads, desserts and seasonal menu items. McDonald’s serves customers through company-operated restaurants and franchised locations, and it supports sales via dine-in, drive-thru, digital ordering platforms and third-party delivery partnerships.

Founded in 1940 by brothers Richard and Maurice McDonald as a single San Bernardino, California restaurant, the business was transformed into a franchising model after Ray Kroc joined in the mid-1950s and led the brand’s national and international expansion.

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Institutional Ownership by Quarter for McDonald's (NYSE:MCD)

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