Patten & Patten Inc. TN Buys 405 Shares of McDonald’s Co. (NYSE:MCD)

Patten & Patten Inc. TN grew its stake in McDonald’s Co. (NYSE:MCD) by 4.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,287 shares of the fast-food giant’s stock after acquiring an additional 405 shares during the quarter. Patten & Patten Inc. TN’s holdings in McDonald’s were worth $2,692,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Geode Capital Management LLC boosted its stake in McDonald’s by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 15,916,980 shares of the fast-food giant’s stock worth $4,833,510,000 after purchasing an additional 220,365 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of McDonald’s by 0.9% in the third quarter. Wellington Management Group LLP now owns 15,082,894 shares of the fast-food giant’s stock worth $4,592,892,000 after buying an additional 128,800 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of McDonald’s by 0.9% during the fourth quarter. Bank of New York Mellon Corp now owns 5,803,833 shares of the fast-food giant’s stock valued at $1,682,473,000 after buying an additional 52,195 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of McDonald’s by 2.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,694,202 shares of the fast-food giant’s stock valued at $1,650,692,000 after acquiring an additional 129,843 shares in the last quarter. Finally, Janus Henderson Group PLC raised its holdings in McDonald’s by 0.7% in the 3rd quarter. Janus Henderson Group PLC now owns 2,765,049 shares of the fast-food giant’s stock worth $841,966,000 after acquiring an additional 19,867 shares during the last quarter. 70.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on MCD shares. Bank of America lifted their target price on McDonald’s from $312.00 to $316.00 and gave the stock a “neutral” rating in a report on Tuesday, February 11th. Citigroup boosted their target price on McDonald’s from $336.00 to $360.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. Truist Financial dropped their price target on shares of McDonald’s from $342.00 to $340.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th. Barclays boosted their price objective on shares of McDonald’s from $347.00 to $350.00 and gave the company an “overweight” rating in a report on Monday, February 10th. Finally, Piper Sandler dropped their target price on shares of McDonald’s from $297.00 to $290.00 and set a “neutral” rating on the stock in a report on Tuesday, February 4th. Ten investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, McDonald’s has an average rating of “Moderate Buy” and a consensus price target of $323.61.

McDonald’s Price Performance

Shares of NYSE MCD opened at $300.00 on Friday. The stock has a market cap of $214.34 billion, a PE ratio of 26.34, a price-to-earnings-growth ratio of 3.10 and a beta of 0.71. McDonald’s Co. has a 1 year low of $243.53 and a 1 year high of $326.32. The firm has a fifty day moving average price of $296.96 and a 200-day moving average price of $296.84.

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

McDonald’s Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be paid a $1.77 dividend. The ex-dividend date is Monday, March 3rd. This represents a $7.08 annualized dividend and a yield of 2.36%. McDonald’s’s payout ratio is 62.16%.

Insider Buying and Selling at McDonald’s

In related news, insider Joseph M. Erlinger sold 300 shares of the company’s stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $280.75, for a total transaction of $84,225.00. Following the completion of the transaction, the insider now owns 7,887 shares in the company, valued at approximately $2,214,275.25. This represents a 3.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Tiffanie L. Boyd sold 1,000 shares of McDonald’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $309.27, for a total transaction of $309,270.00. Following the completion of the sale, the executive vice president now owns 5,564 shares in the company, valued at approximately $1,720,778.28. This represents a 15.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 33,504 shares of company stock valued at $10,206,575 in the last three months. 0.23% of the stock is currently owned by corporate insiders.

McDonald’s 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.