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

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

Other large investors have also recently made changes to their positions in the company. Legacy Investment Solutions LLC purchased a new position in McDonald’s in the third quarter worth about $25,000. Atala Financial Inc bought a new stake in shares of McDonald’s in the 4th quarter valued at approximately $26,000. Comprehensive Financial Planning Inc. PA purchased a new position in shares of McDonald’s in the 4th quarter worth approximately $27,000. Collier Financial bought a new position in shares of McDonald’s during the 4th quarter valued at approximately $29,000. Finally, RPg Family Wealth Advisory LLC purchased a new stake in McDonald’s during the 3rd quarter valued at $31,000. 70.29% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on MCD shares. KeyCorp lifted their price objective on shares of McDonald’s from $320.00 to $335.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 11th. JPMorgan Chase & Co. lifted their price target on shares of McDonald’s from $280.00 to $300.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 11th. Wedbush increased their price objective on shares of McDonald’s from $320.00 to $330.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 11th. Robert W. Baird boosted their target price on McDonald’s from $305.00 to $310.00 and gave the company a “neutral” rating in a research report on Tuesday, February 11th. Finally, Truist Financial reduced their price target on McDonald’s from $342.00 to $340.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th. Ten analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, McDonald’s has a consensus rating of “Moderate Buy” and an average price target of $323.61.

McDonald’s Stock Up 0.8 %

McDonald’s stock opened at $300.00 on Friday. McDonald’s Co. has a twelve month low of $243.53 and a twelve month high of $326.32. The business has a fifty day moving average of $296.96 and a two-hundred day moving average of $296.84. The firm has a market cap of $214.34 billion, a P/E ratio of 26.34, a P/E/G ratio of 3.10 and a beta of 0.71.

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

McDonald’s Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be paid a dividend of $1.77 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $7.08 annualized dividend and a dividend yield of 2.36%. McDonald’s’s dividend payout ratio (DPR) is presently 62.16%.

Insider Activity at McDonald’s

In other news, EVP Tiffanie L. Boyd sold 1,000 shares of the company’s stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $309.27, for a total transaction of $309,270.00. Following the transaction, the executive vice president now directly owns 5,564 shares of the company’s stock, valued at approximately $1,720,778.28. This represents a 15.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Christopher J. Kempczinski sold 10,500 shares of the firm’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $310.05, for a total value of $3,255,525.00. Following the completion of the sale, the chief executive officer now directly owns 32,756 shares of the company’s stock, valued at $10,155,997.80. The trade was a 24.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 33,504 shares of company stock valued at $10,206,575 over the last 90 days. Insiders own 0.23% of the company’s stock.

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.