Farther Finance Advisors LLC Acquires 1,643 Shares of McDonald’s Corporation $MCD

Farther Finance Advisors LLC boosted its holdings in shares of McDonald’s Corporation (NYSE:MCD) by 7.4% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 23,996 shares of the fast-food giant’s stock after acquiring an additional 1,643 shares during the quarter. Farther Finance Advisors LLC’s holdings in McDonald’s were worth $7,292,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Decker Retirement Planning Inc. grew its holdings in shares of McDonald’s by 142.9% in the second quarter. Decker Retirement Planning Inc. now owns 85 shares of the fast-food giant’s stock worth $25,000 after purchasing an additional 50 shares during the last quarter. Legacy Investment Solutions LLC purchased a new stake in McDonald’s in the 2nd quarter valued at about $25,000. HFM Investment Advisors LLC purchased a new position in shares of McDonald’s during the first quarter worth approximately $26,000. Nova Wealth Management Inc. purchased a new position in shares of McDonald’s during the first quarter worth approximately $26,000. Finally, GFG Capital LLC bought a new stake in shares of McDonald’s during the second quarter valued at approximately $29,000. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on MCD shares. Guggenheim raised their price objective on McDonald’s from $295.00 to $310.00 and gave the stock a “neutral” rating in a report on Wednesday, November 19th. Citigroup dropped their price target on McDonald’s from $381.00 to $375.00 and set a “buy” rating on the stock in a research report on Tuesday, October 21st. Mizuho upgraded McDonald’s to a “hold” rating in a report on Tuesday, October 28th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of McDonald’s in a research note on Friday, October 31st. Finally, Piper Sandler reissued a “neutral” rating and set a $325.00 target price on shares of McDonald’s in a research report on Wednesday, October 22nd. Eleven analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $324.57.

Insiders Place Their Bets

In other news, EVP Desiree Ralls-Morrison sold 2,486 shares of the firm’s stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $320.00, for a total value of $795,520.00. Following the completion of the sale, the executive vice president owned 6,268 shares of the company’s stock, valued at $2,005,760. This trade represents a 28.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Ian Frederick Borden sold 17,134 shares of the company’s stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $310.00, for a total value of $5,311,540.00. Following the transaction, the chief financial officer directly owned 26,353 shares in the company, valued at $8,169,430. This represents a 39.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 42,516 shares of company stock worth $13,036,090. 0.25% of the stock is currently owned by company insiders.

McDonald’s Stock Performance

Shares of McDonald’s stock opened at $310.96 on Wednesday. The company has a market capitalization of $221.45 billion, a PE ratio of 26.53, a P/E/G ratio of 3.52 and a beta of 0.52. The company has a 50-day simple moving average of $307.64 and a two-hundred day simple moving average of $303.89. McDonald’s Corporation has a one year low of $276.53 and a one year high of $326.32.

McDonald’s (NYSE:MCD) last issued its quarterly earnings data on Wednesday, November 5th. The fast-food giant reported $3.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.11). The firm had revenue of $7.08 billion during the quarter, compared to analysts’ expectations of $7.10 billion. McDonald’s had a negative return on equity of 280.89% and a net margin of 32.04%.The firm’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period in the previous year, the firm earned $3.23 EPS. On average, equities analysts predict that McDonald’s Corporation will post 12.25 earnings per share for the current fiscal year.

McDonald’s Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 1st were given a dividend of $1.86 per share. The ex-dividend date of this dividend was Monday, December 1st. This is a boost from McDonald’s’s previous quarterly dividend of $1.77. This represents a $7.44 dividend on an annualized basis and a dividend yield of 2.4%. McDonald’s’s payout ratio is currently 63.48%.

McDonald’s Profile

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.