McDonald’s Co. (NYSE:MCD) Shares Purchased by Washington Trust Bank

Washington Trust Bank raised its position in McDonald’s Co. (NYSE:MCD) by 2.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,267 shares of the fast-food giant’s stock after buying an additional 92 shares during the period. Washington Trust Bank’s holdings in McDonald’s were worth $1,299,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Kings Path Partners LLC acquired a new stake in shares of McDonald’s in the second quarter worth approximately $38,000. Opal Wealth Advisors LLC acquired a new stake in McDonald’s during the 2nd quarter worth $59,000. Bbjs Financial Advisors LLC purchased a new stake in shares of McDonald’s during the second quarter worth $65,000. Macroview Investment Management LLC raised its position in shares of McDonald’s by 433.3% in the second quarter. Macroview Investment Management LLC now owns 256 shares of the fast-food giant’s stock valued at $65,000 after buying an additional 208 shares during the last quarter. Finally, Unique Wealth Strategies LLC acquired a new stake in shares of McDonald’s in the second quarter valued at about $81,000. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

McDonald’s Trading Up 0.1 %

MCD traded up $0.34 during trading hours on Thursday, hitting $294.34. 71,806 shares of the company’s stock were exchanged, compared to its average volume of 3,513,486. McDonald’s Co. has a 12-month low of $243.53 and a 12-month high of $317.90. The firm has a market cap of $211.14 billion, a P/E ratio of 25.81, a price-to-earnings-growth ratio of 3.89 and a beta of 0.74. The firm has a 50 day moving average of $298.74 and a 200 day moving average of $276.35.

McDonald’s (NYSE:MCD) last posted its quarterly earnings data 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 business had revenue of $6.87 billion for the quarter, compared to analyst estimates of $6.82 billion. McDonald’s had a negative return on equity of 178.99% and a net margin of 31.79%. The company’s revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.19 earnings per share. As a group, research analysts expect that McDonald’s Co. will post 11.77 EPS 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. Stockholders of record on Monday, December 2nd will be given a dividend of $1.77 per share. The ex-dividend date of this dividend is Monday, December 2nd. This is an increase from McDonald’s’s previous quarterly dividend of $1.67. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.41%. McDonald’s’s payout ratio is currently 62.16%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on MCD. Morgan Stanley upped their price objective on shares of McDonald’s from $296.00 to $340.00 and gave the company an “overweight” rating in a research note on Tuesday, October 15th. Jefferies Financial Group upped their price target on McDonald’s from $310.00 to $330.00 and gave the company a “buy” rating in a research report on Monday, September 9th. Barclays lifted their price objective on McDonald’s from $300.00 to $325.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 22nd. Evercore ISI raised their target price on McDonald’s from $320.00 to $340.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 15th. Finally, Stifel Nicolaus lowered their price target on shares of McDonald’s from $285.00 to $265.00 and set a “hold” rating on the stock in a research report on Monday, July 22nd. Thirteen equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat, McDonald’s presently has an average rating of “Moderate Buy” and an average target price of $319.46.

Insider Buying and Selling

In related news, EVP Marion K. Gross sold 1,499 shares of McDonald’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $294.51, for a total value of $441,470.49. Following the completion of the transaction, the executive vice president now owns 1,560 shares in the company, valued at $459,435.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other McDonald’s news, CEO Christopher J. Kempczinski sold 11,727 shares of the firm’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $300.03, for a total value of $3,518,451.81. Following the sale, the chief executive officer now directly owns 49,885 shares in the company, valued at $14,966,996.55. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Marion K. Gross sold 1,499 shares of the company’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $294.51, for a total value of $441,470.49. Following the transaction, the executive vice president now directly owns 1,560 shares of the company’s stock, valued at approximately $459,435.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 35,596 shares of company stock worth $10,698,289. Company insiders own 0.23% of the company’s stock.

McDonald’s 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.