49 Wealth Management LLC Buys New Shares in McDonald’s Co. (NYSE:MCD)

49 Wealth Management LLC bought a new stake in shares of McDonald’s Co. (NYSE:MCD) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,000 shares of the fast-food giant’s stock, valued at approximately $305,000.

Several other institutional investors and hedge funds also recently bought and sold shares of MCD. Kennebec Savings Bank bought a new stake in McDonald’s during the third quarter valued at about $1,394,000. Hantz Financial Services Inc. bought a new stake in McDonald’s during the second quarter valued at about $6,612,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in McDonald’s by 58.9% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 138,102 shares of the fast-food giant’s stock valued at $35,194,000 after acquiring an additional 51,210 shares during the period. U.S. Capital Wealth Advisors LLC raised its holdings in McDonald’s by 6.5% during the third quarter. U.S. Capital Wealth Advisors LLC now owns 49,186 shares of the fast-food giant’s stock valued at $14,978,000 after acquiring an additional 2,997 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in McDonald’s by 0.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 5,564,359 shares of the fast-food giant’s stock valued at $1,694,403,000 after acquiring an additional 49,106 shares during the period. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

McDonald’s Stock Performance

Shares of NYSE MCD opened at $288.32 on Friday. The firm has a market capitalization of $206.61 billion, a price-to-earnings ratio of 25.31, a PEG ratio of 3.87 and a beta of 0.74. The stock has a 50 day moving average price of $299.98 and a 200 day moving average price of $277.91. McDonald’s Co. has a 52-week low of $243.53 and a 52-week high of $317.90.

McDonald’s (NYSE:MCD) last posted its 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 analyst estimates of $6.82 billion. McDonald’s had a negative return on equity of 175.42% and a net margin of 31.79%. McDonald’s’s revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.19 earnings per share. Analysts forecast that McDonald’s Co. will post 11.77 earnings per share for the current year.

McDonald’s Increases Dividend

The business also recently announced 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 is Monday, December 2nd. This represents a $7.08 dividend on an annualized basis and a yield of 2.46%. This is a positive change from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s dividend payout ratio is currently 58.65%.

Insiders Place Their Bets

In other news, EVP Marion K. Gross sold 1,499 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $294.51, for a total transaction 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 49.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Joseph M. Erlinger sold 1,099 shares of the company’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $298.57, for a total value of $328,128.43. Following the transaction, the insider now directly owns 11,484 shares in the company, valued at approximately $3,428,777.88. The trade was a 8.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 34,498 shares of company stock worth $10,381,296 over the last 90 days. Company insiders own 0.23% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on MCD. Citigroup lifted their target price on McDonald’s from $301.00 to $317.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Deutsche Bank Aktiengesellschaft reduced their target price on McDonald’s from $295.00 to $290.00 and set a “buy” rating on the stock in a report on Tuesday, July 30th. Truist Financial reduced their target price on McDonald’s from $350.00 to $342.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Evercore ISI lifted their target price on McDonald’s from $320.00 to $340.00 and gave the stock an “outperform” rating in a report on Tuesday, October 15th. Finally, Jefferies Financial Group lifted their target price on McDonald’s from $310.00 to $330.00 and gave the stock a “buy” rating in a report on Monday, September 9th. Thirteen equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat.com, McDonald’s presently has an average rating of “Moderate Buy” and an average target price 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.