CRA Financial Services LLC Has $1.34 Million Position in McDonald’s Co. (NYSE:MCD)

by · The Cerbat Gem

CRA Financial Services LLC grew its position in McDonald’s Co. (NYSE:MCD – Free Report) by 3.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,066 shares of the fast-food giant’s stock after buying an additional 191 shares during the quarter. CRA Financial Services LLC’s holdings in McDonald’s were worth $1,335,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Providence Wealth Advisors LLC boosted its holdings in McDonald’s by 2.4% in the first quarter. Providence Wealth Advisors LLC now owns 1,492 shares of the fast-food giant’s stock valued at $434,000 after acquiring an additional 35 shares in the last quarter. SeaCrest Wealth Management LLC boosted its holdings in McDonald’s by 0.5% in the first quarter. SeaCrest Wealth Management LLC now owns 7,316 shares of the fast-food giant’s stock valued at $2,046,000 after acquiring an additional 35 shares in the last quarter. Lorne Steinberg Wealth Management Inc. boosted its holdings in McDonald’s by 1.9% in the second quarter. Lorne Steinberg Wealth Management Inc. now owns 1,846 shares of the fast-food giant’s stock valued at $551,000 after acquiring an additional 35 shares in the last quarter. Costello Asset Management INC boosted its holdings in McDonald’s by 8.2% in the second quarter. Costello Asset Management INC now owns 460 shares of the fast-food giant’s stock valued at $137,000 after acquiring an additional 35 shares in the last quarter. Finally, Ramsay Stattman Vela & Price Inc. boosted its holdings in McDonald’s by 0.5% in the second quarter. Ramsay Stattman Vela & Price Inc. now owns 7,685 shares of the fast-food giant’s stock valued at $2,293,000 after acquiring an additional 35 shares in the last quarter. 67.60% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other McDonald’s news, insider Joseph M. Erlinger sold 4,487 shares of the company’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $281.25, for a total value of $1,261,968.75. Following the completion of the transaction, the insider now directly owns 8,908 shares in the company, valued at approximately $2,505,375. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other McDonald’s news, EVP Heidi B. Capozzi sold 688 shares of McDonald’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $262.00, for a total transaction of $180,256.00. Following the completion of the transaction, the executive vice president now directly owns 19,331 shares of the company’s stock, valued at $5,064,722. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Joseph M. Erlinger sold 4,487 shares of McDonald’s stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $281.25, for a total transaction of $1,261,968.75. Following the transaction, the insider now directly owns 8,908 shares of the company’s stock, valued at $2,505,375. The disclosure for this sale can be found here. Insiders sold 14,149 shares of company stock worth $3,810,777 in the last three months. 0.27% of the stock is owned by company insiders.

McDonald’s Stock Down 0.6 %

NYSE MCD opened at $288.99 on Thursday. McDonald’s Co. has a 52 week low of $245.73 and a 52 week high of $299.35. The firm has a market capitalization of $209.62 billion, a P/E ratio of 25.44, a PEG ratio of 2.72 and a beta of 0.70. The company has a 50-day moving average price of $272.89 and a 200-day moving average price of $279.84.

McDonald’s (NYSE:MCD – Get Free Report) last released its earnings results on Monday, October 30th. The fast-food giant reported $3.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.00 by $0.19. The company had revenue of $6.69 billion during the quarter, compared to analyst estimates of $6.56 billion. McDonald’s had a net margin of 33.31% and a negative return on equity of 157.19%. The firm’s quarterly revenue was up 14.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.68 EPS. As a group, equities research analysts anticipate that McDonald’s Co. will post 11.75 EPS for the current year.

McDonald’s Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Friday, December 1st were paid a $1.67 dividend. This represents a $6.68 annualized dividend and a yield of 2.31%. This is an increase from McDonald’s’s previous quarterly dividend of $1.52. The ex-dividend date was Thursday, November 30th. McDonald’s’s dividend payout ratio is presently 58.80%.

Analysts Set New Price Targets

Several research firms recently weighed in on MCD. Wells Fargo & Company upgraded shares of McDonald’s from an “equal weight” rating to an “overweight” rating and set a $310.00 price target on the stock in a report on Thursday, September 7th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of McDonald’s in a report on Thursday, October 19th. They issued a “buy” rating and a $287.00 price target on the stock. Truist Financial boosted their target price on shares of McDonald’s from $335.00 to $340.00 and gave the company a “buy” rating in a report on Tuesday, December 12th. KeyCorp dropped their target price on shares of McDonald’s from $330.00 to $310.00 and set an “overweight” rating on the stock in a report on Tuesday, October 17th. Finally, BTIG Research dropped their target price on shares of McDonald’s from $315.00 to $300.00 in a report on Monday, October 2nd. Four equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $316.60.

View Our Latest Research Report on MCD

About McDonald’s

(Free Report)

McDonald's Corporation operates and franchises McDonald's restaurants in the United States and internationally. The company's restaurants offer hamburgers and cheeseburgers, chicken sandwiches and nuggets, fries, salads, shakes, frozen desserts, sundaes, soft serve cones, bakery items, soft drinks, coffee, and beverages and other beverages, as well as breakfast menu, including muffins, Sausages, biscuit and bagel sandwiches, oatmeal, hash browns, breakfast burritos and hotcakes.

See Also

Want to see what other hedge funds are holding MCD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for McDonald’s Co. (NYSE:MCD – Free Report).