Shum Financial Group Inc. Invests $361,000 in McDonald’s Co. (NYSE:MCD)

Shum Financial Group Inc. acquired a new position in McDonald’s Co. (NYSE:MCD) during the third quarter, Holdings Channel reports. The institutional investor acquired 1,214 shares of the fast-food giant’s stock, valued at approximately $361,000.

A number of other hedge funds have also recently added to or reduced their stakes in MCD. Steigerwald Gordon & Koch Inc. grew its holdings in McDonald’s by 2.4% in the 3rd quarter. Steigerwald Gordon & Koch Inc. now owns 1,422 shares of the fast-food giant’s stock valued at $433,000 after buying an additional 33 shares in the last quarter. Riversedge Advisors LLC lifted its position in shares of McDonald’s by 2.0% during the 3rd quarter. Riversedge Advisors LLC now owns 1,686 shares of the fast-food giant’s stock worth $513,000 after buying an additional 33 shares during the last quarter. Proquility Private Wealth Partners LLC lifted its position in shares of McDonald’s by 1.0% during the 3rd quarter. Proquility Private Wealth Partners LLC now owns 3,472 shares of the fast-food giant’s stock worth $1,057,000 after buying an additional 35 shares during the last quarter. Clear Creek Financial Management LLC lifted its position in shares of McDonald’s by 2.8% during the 3rd quarter. Clear Creek Financial Management LLC now owns 1,300 shares of the fast-food giant’s stock worth $396,000 after buying an additional 35 shares during the last quarter. Finally, GDS Wealth Management raised its position in McDonald’s by 1.4% in the third quarter. GDS Wealth Management now owns 2,504 shares of the fast-food giant’s stock valued at $762,000 after purchasing an additional 35 shares during the last quarter. Institutional investors and hedge funds own 70.29% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on MCD. Guggenheim downgraded McDonald’s from a “buy” rating to a “neutral” rating and dropped their target price for the company from $290.00 to $285.00 in a research report on Wednesday, October 23rd. The Goldman Sachs Group increased their target price on McDonald’s from $284.00 to $325.00 and gave the company a “neutral” rating in a research report on Tuesday, September 24th. Truist Financial dropped their target price on McDonald’s from $350.00 to $342.00 and set a “buy” rating for the company in a research report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft dropped their target price on McDonald’s from $295.00 to $290.00 and set a “buy” rating for the company in a research report on Tuesday, July 30th. Finally, Baird R W downgraded McDonald’s from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. Thirteen analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat.com, McDonald’s currently has an average rating of “Moderate Buy” and an average target price of $319.46.

McDonald’s Trading Down 0.4 %

NYSE MCD traded down $1.19 during trading hours on Tuesday, hitting $295.00. 213,270 shares of the company’s stock were exchanged, compared to its average volume of 3,490,660. McDonald’s Co. has a 1-year low of $243.53 and a 1-year high of $317.90. The stock has a 50-day simple moving average of $299.84 and a 200 day simple moving average of $278.40. The firm has a market cap of $211.40 billion, a price-to-earnings ratio of 26.00, a PEG ratio of 3.86 and a beta of 0.74.

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 the consensus estimate of $3.18 by $0.05. McDonald’s had a negative return on equity of 175.42% and a net margin of 31.79%. The business had revenue of $6.87 billion for the quarter, compared to analysts’ expectations of $6.82 billion. During the same quarter in the previous year, the firm earned $3.19 earnings per share. The business’s revenue was up 2.7% on a year-over-year basis. On average, sell-side analysts anticipate that McDonald’s Co. will post 11.77 earnings per share for the current fiscal year.

McDonald’s Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a dividend of $1.77 per share. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date of this dividend is Monday, December 2nd. This is a boost from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s dividend payout ratio is currently 58.65%.

Insider Activity

In related news, insider Joseph M. Erlinger sold 1,099 shares of the business’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 sale, the insider now directly owns 10,385 shares in the company, valued at approximately $3,036,366.30. The trade was a 9.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Marion K. Gross sold 1,498 shares of the business’s stock in a transaction on 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 owns 1,560 shares in the company, valued at approximately $446,721.60. The trade was a 48.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 34,498 shares of company stock valued at $10,381,296 in the last 90 days. Insiders own 0.23% of the company’s stock.

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.