Bruderman Asset Management LLC Lowers Stock Position in McDonald's Co. (NYSE:MCD)

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Bruderman Asset Management LLC reduced its stake in McDonald's Co. (NYSE:MCD) by 43.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,897 shares of the fast-food giant’s stock after selling 8,464 shares during the quarter. Bruderman Asset Management LLC’s holdings in McDonald's were worth $2,392,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Family Legacy Inc. grew its position in McDonald's by 1.1% during the third quarter. Family Legacy Inc. now owns 4,216 shares of the fast-food giant’s stock valued at $925,000 after acquiring an additional 45 shares during the last quarter. Investors Financial Group LLC grew its position in McDonald's by 2.4% during the third quarter. Investors Financial Group LLC now owns 2,008 shares of the fast-food giant’s stock valued at $441,000 after acquiring an additional 47 shares during the last quarter. Headinvest LLC grew its position in McDonald's by 1.6% during the second quarter. Headinvest LLC now owns 3,074 shares of the fast-food giant’s stock valued at $567,000 after acquiring an additional 49 shares during the last quarter. First Financial Corp IN grew its position in McDonald's by 1.3% during the third quarter. First Financial Corp IN now owns 3,927 shares of the fast-food giant’s stock valued at $862,000 after acquiring an additional 49 shares during the last quarter. Finally, Private Asset Management Inc. grew its position in McDonald's by 2.6% during the third quarter. Private Asset Management Inc. now owns 2,001 shares of the fast-food giant’s stock valued at $439,000 after acquiring an additional 50 shares during the last quarter. 66.07% of the stock is currently owned by institutional investors and hedge funds.

Several brokerages have recently issued reports on MCD. Bank of America raised their target price on shares of McDonald's from $220.00 to $250.00 and gave the stock a “buy” rating in a report on Monday, October 5th. BofA Securities raised their target price on shares of McDonald's from $220.00 to $250.00 and gave the stock a “buy” rating in a report on Monday, October 5th. Wells Fargo & Company raised their target price on shares of McDonald's from $222.00 to $244.00 and gave the stock an “overweight” rating in a report on Thursday, October 1st. KeyCorp lifted their price target on shares of McDonald's from $215.00 to $225.00 and gave the company an “overweight” rating in a report on Tuesday, August 18th. Finally, UBS Group lifted their price target on shares of McDonald's from $215.00 to $230.00 and gave the company a “neutral” rating in a report on Monday, September 14th. Eight investment analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $222.43.

Shares of NYSE:MCD opened at $229.37 on Friday. McDonald's Co. has a fifty-two week low of $124.23 and a fifty-two week high of $231.91. The business has a 50-day simple moving average of $219.28 and a two-hundred day simple moving average of $196.08. The firm has a market cap of $170.67 billion, a price-to-earnings ratio of 36.35, a price-to-earnings-growth ratio of 5.25 and a beta of 0.67.

McDonald's (NYSE:MCD) last issued its earnings results on Tuesday, July 28th. The fast-food giant reported $0.66 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.76 by ($0.10). McDonald's had a negative return on equity of 52.78% and a net margin of 24.78%. The business had revenue of $3.76 billion during the quarter, compared to analysts’ expectations of $3.73 billion. During the same period last year, the firm posted $2.05 EPS. McDonald's’s quarterly revenue was down 29.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that McDonald's Co. will post 5.96 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Tuesday, December 1st will be given a $1.29 dividend. This is a positive change from McDonald's’s previous quarterly dividend of $1.25. The ex-dividend date of this dividend is Monday, November 30th. This represents a $5.16 dividend on an annualized basis and a yield of 2.25%. McDonald's’s payout ratio is 63.78%.

McDonald's Company Profile

McDonald's Corporation operates and franchises McDonald's restaurants in the United States and internationally. Its restaurants offer various food products and beverages, as well as breakfast menu. As of December 31, 2019, the company operated 38,695 restaurants. McDonald's Corporation was founded in 1940 and is based in Chicago, Illinois.

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

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