Raymond James & Associates Buys 17,059 Shares of McDonald’s Co. (NYSE:MCD)

Raymond James & Associates raised its stake in shares of McDonald’s Co. (NYSE:MCD) by 1.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 1,273,002 shares of the fast-food giant’s stock after purchasing an additional 17,059 shares during the period. Raymond James & Associates owned 0.18% of McDonald’s worth $387,642,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of MCD. Dixon Mitchell Investment Counsel Inc. purchased a new position in McDonald’s during the first quarter valued at approximately $28,000. Kings Path Partners LLC bought a new position in McDonald’s in the 2nd quarter worth $38,000. Keener Financial Planning LLC increased its stake in McDonald’s by 32.3% in the 1st quarter. Keener Financial Planning LLC now owns 176 shares of the fast-food giant’s stock worth $50,000 after buying an additional 43 shares in the last quarter. Opal Wealth Advisors LLC bought a new stake in McDonald’s during the second quarter valued at about $59,000. Finally, Bbjs Financial Advisors LLC purchased a new position in shares of McDonald’s in the second quarter valued at about $65,000. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the company. JPMorgan Chase & Co. lifted their target price on McDonald’s from $270.00 to $290.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. UBS Group boosted their target price on shares of McDonald’s from $305.00 to $345.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. BMO Capital Markets dropped their target price on shares of McDonald’s from $330.00 to $315.00 and set an “outperform” rating for the company in a research report on Tuesday, July 30th. The Goldman Sachs Group lifted their price target on shares of McDonald’s from $284.00 to $325.00 and gave the company a “neutral” rating in a report on Tuesday, September 24th. Finally, Argus raised shares of McDonald’s from a “hold” rating to a “buy” rating in a report on Tuesday, October 8th. Ten research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $315.69.

McDonald’s Trading Up 0.6 %

Shares of MCD stock traded up $1.86 on Friday, reaching $316.56. 2,531,197 shares of the company’s stock were exchanged, compared to its average volume of 3,356,786. The company’s fifty day simple moving average is $294.62 and its 200 day simple moving average is $273.73. McDonald’s Co. has a 52 week low of $243.53 and a 52 week high of $317.18. The stock has a market capitalization of $228.14 billion, a PE ratio of 26.87, a P/E/G ratio of 4.05 and a beta of 0.73.

McDonald’s (NYSE:MCD) last released its earnings results on Monday, July 29th. The fast-food giant reported $2.97 earnings per share for the quarter, missing the consensus estimate of $3.07 by ($0.10). The business had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.62 billion. McDonald’s had a negative return on equity of 178.68% and a net margin of 32.25%. The firm’s revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter last year, the business posted $3.17 earnings per share. As a group, sell-side analysts predict that McDonald’s Co. will post 11.71 earnings per share for the current fiscal year.

McDonald’s Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a $1.77 dividend. This represents a $7.08 annualized dividend and a yield of 2.24%. This is a boost from McDonald’s’s previous quarterly dividend of $1.67. The ex-dividend date is Monday, December 2nd. McDonald’s’s payout ratio is 60.10%.

Insiders Place Their Bets

In related news, insider Joseph M. Erlinger sold 1,099 shares of the business’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $260.00, for a total value of $285,740.00. Following the completion of the sale, the insider now owns 13,681 shares in the company, valued at approximately $3,557,060. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Joseph M. Erlinger sold 1,099 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $260.00, for a total transaction of $285,740.00. Following the transaction, the insider now owns 13,681 shares in the company, valued at approximately $3,557,060. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CMO Edith Morgan Flatley sold 2,346 shares of the company’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $310.00, for a total transaction of $727,260.00. Following the completion of the sale, the chief marketing officer now directly owns 2,905 shares of the company’s stock, valued at approximately $900,550. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 34,097 shares of company stock worth $10,221,233 in the last three months. Corporate insiders own 0.23% of the company’s stock.

McDonald’s Company Profile

McDonald's Corporation operates and franchises restaurants under the McDonald's brand in the United States and internationally. It offers food and beverages, including hamburgers and cheeseburgers, various chicken sandwiches, fries, shakes, desserts, sundaes, cookies, pies, soft drinks, coffee, and other beverages; and full or limited breakfast, as well as sells various other products during limited-time promotions.