Koa Wealth Management LLC Acquires Shares of 665 McDonald’s Co. (NYSE:MCD)

Koa Wealth Management LLC bought a new stake in McDonald’s Co. (NYSE:MCD) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 665 shares of the fast-food giant’s stock, valued at approximately $202,000.

Several other large investors have also recently added to or reduced their stakes in the company. Legal & General Group Plc increased its position in McDonald’s by 3.2% during the 2nd quarter. Legal & General Group Plc now owns 6,149,080 shares of the fast-food giant’s stock worth $1,567,030,000 after purchasing an additional 188,888 shares during the period. Capital Research Global Investors boosted its stake in shares of McDonald’s by 66.9% in the first quarter. Capital Research Global Investors now owns 5,471,007 shares of the fast-food giant’s stock valued at $1,542,550,000 after buying an additional 2,193,769 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in McDonald’s by 8.0% during the second quarter. Ameriprise Financial Inc. now owns 4,761,625 shares of the fast-food giant’s stock worth $1,216,677,000 after acquiring an additional 354,196 shares during the period. Capital World Investors grew its holdings in McDonald’s by 39.7% during the first quarter. Capital World Investors now owns 3,565,398 shares of the fast-food giant’s stock worth $1,005,264,000 after acquiring an additional 1,012,534 shares during the period. Finally, International Assets Investment Management LLC lifted its holdings in McDonald’s by 31,151.1% in the third quarter. International Assets Investment Management LLC now owns 2,319,142 shares of the fast-food giant’s stock valued at $706,202,000 after acquiring an additional 2,311,721 shares during the period. 70.29% of the stock is owned by hedge funds and other institutional investors.

McDonald’s Trading Down 2.0 %

Shares of MCD stock opened at $292.52 on Friday. McDonald’s Co. has a twelve month low of $243.53 and a twelve month high of $317.90. The company has a market capitalization of $209.63 billion, a PE ratio of 25.68, a price-to-earnings-growth ratio of 3.95 and a beta of 0.74. The firm has a fifty day simple moving average of $300.06 and a 200-day simple moving average of $277.42.

McDonald’s (NYSE:MCD) last announced its 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. McDonald’s had a negative return on equity of 175.42% and a net margin of 31.79%. The company had revenue of $6.87 billion during the quarter, compared to the consensus estimate of $6.82 billion. During the same period last year, the firm earned $3.19 earnings per share. The company’s revenue was up 2.7% on a year-over-year basis. 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 disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued 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 annualized dividend and a yield of 2.42%. McDonald’s’s payout ratio is currently 58.65%.

Insider Buying and Selling at McDonald’s

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 stock was sold at an average price of $288.70, for a total value of $316,992.60. Following the completion of the transaction, the insider now owns 12,583 shares in the company, valued at approximately $3,632,712.10. This trade represents a 8.03 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 value of $428,967.28. Following the sale, the executive vice president now directly owns 1,560 shares in the company, 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 35,596 shares of company stock valued at $10,698,289 in the last three months. Corporate insiders own 0.23% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on MCD. Citigroup increased their price target on shares of McDonald’s from $301.00 to $317.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Deutsche Bank Aktiengesellschaft reduced their price objective on McDonald’s from $295.00 to $290.00 and set a “buy” rating for the company in a report on Tuesday, July 30th. TD Cowen restated a “hold” rating and issued a $300.00 price target on shares of McDonald’s in a research report on Tuesday, October 29th. Bank of America lifted their price target on McDonald’s from $321.00 to $324.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Finally, Evercore ISI increased their price objective on shares of McDonald’s from $320.00 to $340.00 and gave the company an “outperform” rating in a research note on Tuesday, October 15th. Thirteen research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $319.46.

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.