SevenBridge Financial Group LLC Acquires 354 Shares of McDonald’s Co. (NYSE:MCD)

SevenBridge Financial Group LLC lifted its holdings in McDonald’s Co. (NYSE:MCD) by 5.0% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 7,440 shares of the fast-food giant’s stock after acquiring an additional 354 shares during the quarter. SevenBridge Financial Group LLC’s holdings in McDonald’s were worth $2,243,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in MCD. Kings Path Partners LLC purchased a new stake in McDonald’s during the second quarter valued at about $38,000. Hara Capital LLC purchased a new position in McDonald’s in the 3rd quarter worth approximately $44,000. Peterson Financial Group Inc. bought a new stake in McDonald’s in the third quarter valued at approximately $58,000. Opal Wealth Advisors LLC purchased a new stake in shares of McDonald’s during the second quarter valued at approximately $59,000. Finally, Bbjs Financial Advisors LLC purchased a new stake in shares of McDonald’s during the second quarter valued at approximately $65,000. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Insider Activity

In related news, insider Joseph M. Erlinger sold 1,099 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $298.57, for a total value of $328,128.43. Following the transaction, the insider now owns 11,484 shares of the company’s stock, valued at approximately $3,428,777.88. This trade represents a 8.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Marion K. Gross sold 1,498 shares of the company’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 sale, the executive vice president now directly owns 1,560 shares of the company’s stock, valued at approximately $446,721.60. This represents a 48.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 34,498 shares of company stock valued at $10,381,296 over the last ninety days. 0.23% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Baird R W lowered shares of McDonald’s from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Loop Capital reaffirmed a “buy” rating on shares of McDonald’s in a research note on Friday, October 18th. Guggenheim lowered shares of McDonald’s from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $290.00 to $285.00 in a report on Wednesday, October 23rd. Wedbush restated an “outperform” rating and set a $295.00 price target on shares of McDonald’s in a report on Wednesday, October 23rd. Finally, Barclays increased their price objective on McDonald’s from $300.00 to $325.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. Thirteen equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, McDonald’s has an average rating of “Moderate Buy” and a consensus target price of $319.46.

McDonald’s Stock Performance

NYSE:MCD opened at $290.28 on Friday. The firm has a 50-day simple moving average of $299.85 and a two-hundred day simple moving average of $278.13. The firm has a market cap of $208.02 billion, a P/E ratio of 25.49, a P/E/G ratio of 3.84 and a beta of 0.74. McDonald’s Co. has a fifty-two week low of $243.53 and a fifty-two week high of $317.90.

McDonald’s (NYSE:MCD) last announced its quarterly earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share for the quarter, beating the consensus estimate 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 net margin of 31.79% and a negative return on equity of 175.42%. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the firm earned $3.19 earnings per share. On average, equities research analysts predict that McDonald’s Co. will post 11.77 EPS for the current year.

McDonald’s Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a $1.77 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $7.08 annualized dividend and a dividend yield of 2.44%. This is a boost from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s payout ratio is currently 62.16%.

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.