Agate Pass Investment Management LLC Sells 80 Shares of McDonald’s Co. (NYSE:MCD)

Agate Pass Investment Management LLC lowered its stake in McDonald’s Co. (NYSE:MCD) by 7.2% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,024 shares of the fast-food giant’s stock after selling 80 shares during the quarter. Agate Pass Investment Management LLC’s holdings in McDonald’s were worth $312,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Dixon Mitchell Investment Counsel Inc. purchased a new stake in shares of McDonald’s during the first quarter worth about $28,000. Kings Path Partners LLC purchased a new stake in shares of McDonald’s during the second quarter worth about $38,000. Accent Capital Management LLC purchased a new stake in shares of McDonald’s during the fourth quarter worth about $44,000. Transcendent Capital Group LLC purchased a new stake in shares of McDonald’s during the fourth quarter worth about $45,000. Finally, Keener Financial Planning LLC grew its position 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 worth $50,000 after purchasing an additional 43 shares in the last quarter. Institutional investors own 70.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft cut their price target on McDonald’s from $295.00 to $290.00 and set a “buy” rating for the company in a report on Tuesday, July 30th. Tigress Financial raised their price target on McDonald’s from $355.00 to $360.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. BMO Capital Markets cut their price target on McDonald’s from $330.00 to $315.00 and set an “outperform” rating for the company in a report on Tuesday, July 30th. Truist Financial cut their price target on McDonald’s from $300.00 to $295.00 and set a “buy” rating for the company in a report on Tuesday, July 30th. Finally, Argus raised McDonald’s from a “hold” rating to a “buy” rating in a research note on Tuesday. Ten research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $310.50.

Insider Buying and Selling

In related news, insider Joseph M. Erlinger sold 1,099 shares of the business’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $260.00, for a total transaction of $285,740.00. Following the transaction, the insider now directly owns 13,681 shares in the company, valued at $3,557,060. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other McDonald’s news, CEO Christopher J. Kempczinski sold 11,727 shares of the company’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $300.03, for a total value of $3,518,451.81. Following the sale, the chief executive officer now directly owns 49,885 shares of the company’s stock, valued at approximately $14,966,996.55. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Joseph M. Erlinger sold 1,099 shares of the company’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $260.00, for a total transaction of $285,740.00. Following the completion of the sale, the insider now directly owns 13,681 shares in the company, valued at approximately $3,557,060. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 31,751 shares of company stock worth $9,493,973 in the last ninety days. 0.23% of the stock is owned by insiders.

McDonald’s Trading Up 0.1 %

Shares of NYSE:MCD opened at $304.04 on Friday. McDonald’s Co. has a 12-month low of $243.53 and a 12-month high of $306.96. The business’s fifty day simple moving average is $289.64 and its 200-day simple moving average is $272.42. The company has a market capitalization of $218.10 billion, a PE ratio of 26.60, a P/E/G ratio of 4.05 and a beta of 0.73.

McDonald’s (NYSE:MCD) last announced its quarterly earnings results on Monday, July 29th. The fast-food giant reported $2.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.10). McDonald’s had a net margin of 32.25% and a negative return on equity of 178.68%. The company had revenue of $6.49 billion during the quarter, compared to analysts’ expectations of $6.62 billion. During the same quarter in the prior year, the business posted $3.17 earnings per share. The company’s revenue was down .1% compared to the same quarter last year. Research analysts predict that McDonald’s Co. will post 11.71 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. Investors of record on Monday, December 2nd will be paid a dividend of $1.77 per share. This represents a $7.08 annualized dividend and a yield of 2.33%. This is an increase from McDonald’s’s previous quarterly dividend of $1.67. The ex-dividend date of this dividend is Monday, December 2nd. McDonald’s’s payout ratio is 58.44%.

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.