Grimes & Company Inc. Purchases 264 Shares of McDonald’s Co. (NYSE:MCD)

Grimes & Company Inc. lifted its position in McDonald’s Co. (NYSE:MCD) by 2.2% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 12,111 shares of the fast-food giant’s stock after buying an additional 264 shares during the quarter. Grimes & Company Inc.’s holdings in McDonald’s were worth $3,688,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Steigerwald Gordon & Koch Inc. lifted its holdings in shares of McDonald’s by 2.4% during the third quarter. Steigerwald Gordon & Koch Inc. now owns 1,422 shares of the fast-food giant’s stock worth $433,000 after buying an additional 33 shares during the last quarter. Riversedge Advisors LLC raised its stake in shares of McDonald’s by 2.0% in the third quarter. Riversedge Advisors LLC now owns 1,686 shares of the fast-food giant’s stock valued at $513,000 after purchasing an additional 33 shares in the last quarter. Proquility Private Wealth Partners LLC raised its stake in shares of McDonald’s by 1.0% in the third quarter. Proquility Private Wealth Partners LLC now owns 3,472 shares of the fast-food giant’s stock valued at $1,057,000 after purchasing an additional 35 shares in the last quarter. Founders Financial Alliance LLC raised its stake in shares of McDonald’s by 0.7% in the second quarter. Founders Financial Alliance LLC now owns 4,980 shares of the fast-food giant’s stock valued at $1,269,000 after purchasing an additional 36 shares in the last quarter. Finally, McAdam LLC raised its stake in McDonald’s by 1.7% during the third quarter. McAdam LLC now owns 2,176 shares of the fast-food giant’s stock worth $663,000 after acquiring an additional 36 shares in the last quarter. Institutional investors own 70.29% of the company’s stock.

McDonald’s Price Performance

Shares of McDonald’s stock traded up $0.05 during trading on Thursday, reaching $298.62. 758,187 shares of the stock traded hands, compared to its average volume of 3,424,307. The company has a market capitalization of $215.21 billion, a price-to-earnings ratio of 25.36, a P/E/G ratio of 4.05 and a beta of 0.73. The business has a fifty day simple moving average of $296.97 and a two-hundred day simple moving average of $274.51. McDonald’s Co. has a 52-week low of $243.53 and a 52-week high of $317.90.

McDonald’s (NYSE:MCD) last issued its quarterly earnings data on Monday, July 29th. The fast-food giant reported $2.97 earnings per share for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.10). The firm had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.62 billion. McDonald’s had a net margin of 32.25% and a negative return on equity of 178.68%. The company’s revenue for the quarter was down .1% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.17 EPS. On average, research analysts predict that McDonald’s Co. will post 11.71 earnings per share for the current fiscal year.

McDonald’s Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a $1.77 dividend. The ex-dividend date is Monday, December 2nd. This represents a $7.08 annualized dividend and a yield of 2.37%. This is an increase from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s dividend payout ratio (DPR) is presently 60.10%.

Insiders Place Their Bets

In other news, insider Joseph M. Erlinger sold 1,098 shares of McDonald’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $288.70, for a total transaction of $316,992.60. Following the completion of the sale, the insider now owns 12,583 shares of the company’s stock, valued at approximately $3,632,712.10. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Joseph M. Erlinger sold 1,098 shares of McDonald’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $288.70, for a total transaction of $316,992.60. Following the completion of the sale, the insider now owns 12,583 shares of the company’s stock, valued at approximately $3,632,712.10. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Marion K. Gross sold 1,498 shares of McDonald’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $286.36, for a total transaction of $428,967.28. Following the transaction, the executive vice president now directly owns 1,560 shares in the company, valued at approximately $446,721.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 32,998 shares of company stock valued at $9,935,493 over the last 90 days. Insiders own 0.23% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on the company. Citigroup increased their target price on McDonald’s from $301.00 to $317.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. KeyCorp lifted their target price on McDonald’s from $305.00 to $330.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. BMO Capital Markets decreased their price target on McDonald’s from $330.00 to $315.00 and set an “outperform” rating for the company in a research note on Tuesday, July 30th. Stifel Nicolaus reduced their target price on McDonald’s from $285.00 to $265.00 and set a “hold” rating for the company in a research note on Monday, July 22nd. Finally, TD Cowen reaffirmed a “hold” rating and issued a $300.00 price objective on shares of McDonald’s in a report on Wednesday. Thirteen equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat.com, McDonald’s has a consensus rating of “Moderate Buy” and an average price target of $318.22.

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.