McDonald’s Co. (NYSE:MCD) Shares Purchased by Palumbo Wealth Management LLC

Palumbo Wealth Management LLC grew its position in shares of McDonald’s Co. (NYSE:MCD) by 1.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,074 shares of the fast-food giant’s stock after acquiring an additional 145 shares during the quarter. Palumbo Wealth Management LLC’s holdings in McDonald’s were worth $2,459,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Cornerstone Wealth Management LLC boosted its position in shares of McDonald’s by 7.6% during the first quarter. Cornerstone Wealth Management LLC now owns 8,471 shares of the fast-food giant’s stock worth $2,389,000 after buying an additional 598 shares during the period. Tempus Wealth Planning LLC grew its stake in shares of McDonald’s by 4.5% in the first quarter. Tempus Wealth Planning LLC now owns 1,155 shares of the fast-food giant’s stock worth $326,000 after purchasing an additional 50 shares in the last quarter. New Century Financial Group LLC acquired a new position in shares of McDonald’s during the first quarter valued at $303,000. Van ECK Associates Corp raised its stake in shares of McDonald’s by 3.1% during the first quarter. Van ECK Associates Corp now owns 16,166 shares of the fast-food giant’s stock valued at $4,558,000 after purchasing an additional 484 shares in the last quarter. Finally, Norden Group LLC lifted its holdings in McDonald’s by 31.7% in the first quarter. Norden Group LLC now owns 5,064 shares of the fast-food giant’s stock worth $1,428,000 after purchasing an additional 1,219 shares during the period. Institutional investors own 70.29% of the company’s stock.

McDonald’s Stock Performance

Shares of NYSE:MCD traded up $0.22 during midday trading on Thursday, hitting $291.74. 420,041 shares of the stock were exchanged, compared to its average volume of 3,509,908. The company has a market capitalization of $209.28 billion, a PE ratio of 25.52, a P/E/G ratio of 4.13 and a beta of 0.73. McDonald’s Co. has a 52-week low of $243.53 and a 52-week high of $317.90. The business’s fifty day simple moving average is $298.19 and its two-hundred day simple moving average is $275.47.

McDonald’s (NYSE:MCD) last posted its quarterly earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share for the quarter, topping analysts’ consensus estimates of $3.18 by $0.05. The company had revenue of $6.87 billion during the quarter, compared to the consensus estimate of $6.82 billion. McDonald’s had a negative return on equity of 178.68% and a net margin of 32.25%. The business’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period last year, the business earned $3.19 EPS. As a group, equities analysts anticipate that McDonald’s Co. will post 11.73 EPS for the current year.

McDonald’s Increases Dividend

The firm also recently announced 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 2.43%. This is an increase from McDonald’s’s previous quarterly dividend of $1.67. The ex-dividend date is Monday, December 2nd. McDonald’s’s payout ratio is currently 61.94%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on MCD shares. Bank of America boosted their price target on shares of McDonald’s from $321.00 to $324.00 and gave the stock a “neutral” rating in a research report on Wednesday. Barclays boosted their target price on McDonald’s from $300.00 to $325.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. Citigroup increased their price target on McDonald’s from $301.00 to $317.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. TD Cowen restated a “hold” rating and issued a $300.00 price objective on shares of McDonald’s in a report on Tuesday. Finally, Wells Fargo & Company lifted their target price on McDonald’s from $285.00 to $350.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Thirteen analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $318.74.

Insider Transactions at McDonald’s

In related news, insider Joseph M. Erlinger sold 1,098 shares of McDonald’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $288.70, for a total value 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Marion K. Gross sold 1,498 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $286.36, for a total value of $428,967.28. Following the completion of the sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Joseph M. Erlinger sold 1,098 shares of McDonald’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $288.70, for a total transaction of $316,992.60. Following the completion of the transaction, the insider now owns 12,583 shares in the company, valued at $3,632,712.10. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 34,097 shares of company stock worth $10,256,818 in the last 90 days. 0.23% of the stock is owned by insiders.

About McDonald’s

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.