McDonald’s Corporation $MCD Position Cut by Red Cedar Investment Management LLC

Red Cedar Investment Management LLC trimmed its position in McDonald’s Corporation (NYSE:MCD – Free Report) by 29.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,907 shares of the fast-food giant’s stock after selling 4,213 shares during the quarter. Red Cedar Investment Management LLC’s holdings in McDonald’s were worth $2,288,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. GKV Capital Management Co. Inc. acquired a new position in McDonald’s during the 1st quarter valued at about $33,000. POM Investment Strategies LLC grew its position in shares of McDonald’s by 46.2% during the 2nd quarter. POM Investment Strategies LLC now owns 174 shares of the fast-food giant’s stock worth $47,000 after buying an additional 55 shares during the period. Westfuller Advisors LLC raised its stake in shares of McDonald’s by 140.0% during the second quarter. Westfuller Advisors LLC now owns 180 shares of the fast-food giant’s stock worth $49,000 after buying an additional 105 shares during the last quarter. Burkett Financial Services LLC raised its stake in shares of McDonald’s by 2,312.5% during the third quarter. Burkett Financial Services LLC now owns 193 shares of the fast-food giant’s stock worth $45,000 after buying an additional 185 shares during the last quarter. Finally, Main Street Group LTD bought a new stake in shares of McDonald’s during the first quarter worth approximately $64,000. 70.29% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on MCD shares. Guggenheim cut their price objective on shares of McDonald’s from $290.00 to $250.00 and set a “neutral” rating on the stock in a report on Monday, October 5th. Daiwa Securities Group lowered their target price on shares of McDonald’s from $309.00 to $293.00 and set an “outperform” rating for the company in a report on Thursday, August 6th. Piper Sandler set a $286.00 target price on shares of McDonald’s in a report on Tuesday, August 4th. Freedom Broker cut shares of McDonald’s from a “buy” rating to a “hold” rating and dropped their target price for the company from $305.00 to $298.00 in a research report on Thursday, November 5th. Finally, Melius Research cut their price target on McDonald’s from $250.00 to $230.00 and set a “sell” rating on the stock in a research note on Monday, September 28th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $297.82.

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McDonald’s Trading Up 1.8%

Shares of MCD opened at $281.54 on Tuesday. McDonald’s Corporation has a 1 year low of $229.20 and a 1 year high of $341.75. The stock has a market cap of $199.23 billion, a P/E ratio of 22.27, a price-to-earnings-growth ratio of 3.20 and a beta of 0.42. The stock’s 50-day moving average price is $249.09 and its two-hundred day moving average price is $282.45.

McDonald’s (NYSE:MCD – Get Free Report) last posted its earnings results on Wednesday, November 4th. The fast-food giant reported $3.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.38 by $0.19. The company had revenue of $7.16 billion during the quarter, compared to analyst estimates of $7.28 billion. McDonald’s had a negative return on equity of 671.56% and a net margin of 32.38%. The company’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same period in the previous year, the company earned $3.22 EPS. As a group, equities analysts forecast that McDonald’s Corporation will post 12.88 EPS for the current year.

McDonald’s Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Tuesday, December 1st will be paid a dividend of $1.93 per share. This represents a $7.72 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend is Tuesday, December 1st. This is a positive change from McDonald’s’s previous quarterly dividend of $1.86. McDonald’s’s payout ratio is 58.86%.

About McDonald’s

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McDonald’s Corporation is a global quick-service restaurant company that operates and franchises restaurants under the McDonald’s brand. Its restaurants serve a menu that includes hamburgers, cheeseburgers, chicken sandwiches, French fries, breakfast items, desserts, salads, beverages and coffee. Offerings vary by market, and many locations provide drive-thru service, delivery and digital ordering through the McDonald’s mobile app.

The company operates through a heavily franchised business model, with restaurants owned and operated by independent franchisees, affiliates and the company itself.

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Institutional Ownership by Quarter for McDonald's (NYSE:MCD)

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