McDonald’s Co. (NYSE:MCD) Position Boosted by Platform Technology Partners

Platform Technology Partners lifted its stake in McDonald’s Co. (NYSE:MCD) by 0.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,611 shares of the fast-food giant’s stock after purchasing an additional 47 shares during the quarter. Platform Technology Partners’ holdings in McDonald’s were worth $2,622,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the stock. Kings Path Partners LLC purchased a new position in McDonald’s in the second quarter valued at about $38,000. Hara Capital LLC acquired a new stake in shares of McDonald’s during the 3rd quarter valued at about $44,000. Opal Wealth Advisors LLC acquired a new position in McDonald’s in the second quarter worth approximately $59,000. Bbjs Financial Advisors LLC bought a new position in McDonald’s during the second quarter valued at approximately $65,000. Finally, Macroview Investment Management LLC lifted its stake in 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 acquiring an additional 208 shares during the last quarter. 70.29% of the stock is currently owned by institutional investors and hedge funds.

McDonald’s Trading Up 0.9 %

NYSE MCD opened at $301.53 on Tuesday. McDonald’s Co. has a 1-year low of $243.53 and a 1-year high of $317.90. The company has a market capitalization of $216.30 billion, a price-to-earnings ratio of 26.47, a PEG ratio of 3.98 and a beta of 0.74. The stock’s 50 day moving average is $299.34 and its two-hundred day moving average is $276.82.

McDonald’s (NYSE:MCD) last announced its quarterly earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 EPS for the quarter, beating the consensus estimate of $3.18 by $0.05. McDonald’s had a negative return on equity of 178.99% and a net margin of 31.79%. The business had revenue of $6.87 billion for the quarter, compared to analyst estimates of $6.82 billion. During the same quarter in the previous year, the firm earned $3.19 EPS. McDonald’s’s quarterly revenue was up 2.7% on a year-over-year basis. On average, analysts predict that McDonald’s Co. will post 11.77 earnings per share for the current year.

McDonald’s Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a dividend of $1.77 per share. The ex-dividend date is Monday, December 2nd. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.35%. This is a boost from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s dividend payout ratio (DPR) is 58.65%.

Insider Activity at McDonald’s

In other news, insider Joseph M. Erlinger sold 1,098 shares of the firm’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. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other McDonald’s news, EVP Marion K. Gross sold 1,498 shares of the stock in a transaction dated 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 owns 1,560 shares of the company’s stock, valued at $446,721.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Joseph M. Erlinger sold 1,098 shares of the business’s stock in a transaction dated 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 directly owns 12,583 shares of the company’s stock, valued at approximately $3,632,712.10. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 35,596 shares of company stock valued at $10,698,289 in the last ninety days. Insiders own 0.23% of the company’s stock.

Analyst Upgrades and Downgrades

MCD has been the subject of several analyst reports. Argus raised shares of McDonald’s from a “hold” rating to a “buy” rating in a research note on Tuesday, October 8th. Tigress Financial increased their price objective on McDonald’s from $355.00 to $360.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. The Goldman Sachs Group upped their target price on McDonald’s from $284.00 to $325.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 24th. JPMorgan Chase & Co. lifted their price target on shares of McDonald’s from $270.00 to $290.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Finally, Morgan Stanley raised their target price 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. Thirteen analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat, McDonald’s has a consensus rating of “Moderate Buy” and an average price target of $319.46.

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.