McDonald’s Co. (NYSE:MCD) Shares Sold by Bragg Financial Advisors Inc

Bragg Financial Advisors Inc lowered its position in McDonald’s Co. (NYSE:MCD) by 0.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 66,816 shares of the fast-food giant’s stock after selling 476 shares during the period. Bragg Financial Advisors Inc’s holdings in McDonald’s were worth $19,369,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of MCD. Morse Asset Management Inc raised its stake in shares of McDonald’s by 12.8% during the 3rd quarter. Morse Asset Management Inc now owns 3,385 shares of the fast-food giant’s stock valued at $1,031,000 after buying an additional 385 shares during the last quarter. McIlrath & Eck LLC grew its holdings in McDonald’s by 11.6% during the third quarter. McIlrath & Eck LLC now owns 1,537 shares of the fast-food giant’s stock worth $468,000 after acquiring an additional 160 shares during the period. Virtu Financial LLC purchased a new position in McDonald’s during the third quarter valued at approximately $1,647,000. Diamant Asset Management Inc. lifted its holdings in McDonald’s by 1.9% in the third quarter. Diamant Asset Management Inc. now owns 9,544 shares of the fast-food giant’s stock valued at $2,906,000 after acquiring an additional 180 shares during the period. Finally, Tudor Financial Inc. purchased a new stake in McDonald’s in the 3rd quarter worth approximately $394,000. Institutional investors and hedge funds own 70.29% of the company’s stock.

Wall Street Analysts Forecast Growth

MCD has been the subject of several recent research reports. Piper Sandler cut their target price on shares of McDonald’s from $297.00 to $290.00 and set a “neutral” rating for the company in a report on Tuesday, February 4th. Loop Capital reaffirmed a “buy” rating and issued a $342.00 price objective on shares of McDonald’s in a report on Friday, January 3rd. Robert W. Baird lowered their target price on shares of McDonald’s from $310.00 to $300.00 and set a “neutral” rating on the stock in a research note on Monday, April 7th. TD Securities reaffirmed a “hold” rating and issued a $300.00 price target on shares of McDonald’s in a report on Monday, February 10th. Finally, BMO Capital Markets increased their target price on McDonald’s from $335.00 to $340.00 and gave the company an “outperform” rating in a research report on Tuesday, February 11th. Nine analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, McDonald’s presently has a consensus rating of “Moderate Buy” and a consensus price target of $322.87.

Insider Buying and Selling

In related news, CEO Christopher J. Kempczinski sold 10,500 shares of the stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $310.05, for a total transaction of $3,255,525.00. Following the transaction, the chief executive officer now owns 32,756 shares of the company’s stock, valued at approximately $10,155,997.80. This represents a 24.27 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Joseph M. Erlinger sold 300 shares of McDonald’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $280.75, for a total value of $84,225.00. Following the completion of the transaction, the insider now directly owns 7,887 shares of the company’s stock, valued at approximately $2,214,275.25. This represents a 3.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 27,497 shares of company stock valued at $8,461,400. Company insiders own 0.23% of the company’s stock.

McDonald’s Price Performance

Shares of MCD stock opened at $309.84 on Friday. The firm’s 50-day moving average is $306.10 and its two-hundred day moving average is $299.04. The company has a market capitalization of $221.37 billion, a PE ratio of 27.20, a price-to-earnings-growth ratio of 3.10 and a beta of 0.62. McDonald’s Co. has a 12 month low of $243.53 and a 12 month high of $326.32.

McDonald’s (NYSE:MCD) last posted its earnings results on Monday, February 10th. The fast-food giant reported $2.83 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.83. McDonald’s had a negative return on equity of 181.63% and a net margin of 31.73%. Sell-side analysts forecast that McDonald’s Co. will post 12.25 EPS for the current year.

McDonald’s Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were paid a $1.77 dividend. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date of this dividend was Monday, March 3rd. McDonald’s’s dividend payout ratio (DPR) is 62.16%.

McDonald’s Company Profile

McDonald’s Corp. engages in the operation and franchising of restaurants. It operates through the following segments: U.S., International Operated Markets, and International Developmental Licensed Markets and Corporate. The U.S. segment focuses its operations on the United States. The International Operated Markets segment consists of operations and the franchising of restaurants in Australia, Canada, France, Germany, Italy, the Netherlands, Spain, and the U.K.