McDonald’s Co. (NYSE:MCD) Shares Bought by Atwater Malick LLC

Atwater Malick LLC boosted its position in shares of McDonald’s Co. (NYSE:MCD) by 0.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,448 shares of the fast-food giant’s stock after purchasing an additional 225 shares during the period. McDonald’s makes up 3.8% of Atwater Malick LLC’s portfolio, making the stock its 10th biggest position. Atwater Malick LLC’s holdings in McDonald’s were worth $11,708,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. Dixon Mitchell Investment Counsel Inc. bought a new position in shares of McDonald’s in the 1st quarter worth about $28,000. Kings Path Partners LLC bought a new stake in McDonald’s in the 2nd quarter valued at about $38,000. Accent Capital Management LLC bought a new stake in McDonald’s in the 4th quarter valued at about $44,000. Transcendent Capital Group LLC bought a new stake in McDonald’s in the 4th quarter valued at about $45,000. Finally, Keener Financial Planning LLC lifted its position in McDonald’s by 32.3% in the 1st quarter. Keener Financial Planning LLC now owns 176 shares of the fast-food giant’s stock valued at $50,000 after purchasing an additional 43 shares during the last quarter. 70.29% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Joseph M. Erlinger sold 1,098 shares of the business’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 transaction, the insider now directly owns 12,583 shares of the company’s stock, valued at $3,632,712.10. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Christopher J. Kempczinski sold 11,727 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $300.03, for a total value of $3,518,451.81. Following the completion of the sale, the chief executive officer now owns 49,885 shares of the company’s stock, valued at $14,966,996.55. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 transaction, the insider now directly owns 12,583 shares in the company, valued at approximately $3,632,712.10. The trade was 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 31,751 shares of company stock valued at $9,493,973. 0.23% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have commented on MCD. TD Cowen reissued a “hold” rating and set a $280.00 target price on shares of McDonald’s in a research note on Monday, September 23rd. The Goldman Sachs Group raised their target price on shares of McDonald’s from $284.00 to $325.00 and gave the company a “neutral” rating in a research note on Tuesday, September 24th. Truist Financial lowered their target price on shares of McDonald’s from $300.00 to $295.00 and set a “buy” rating on the stock in a research note on Tuesday, July 30th. Evercore ISI lifted their price objective on shares of McDonald’s from $300.00 to $320.00 and gave the stock an “outperform” rating in a research note on Monday, August 19th. Finally, Robert W. Baird lifted their price objective on shares of McDonald’s from $280.00 to $320.00 and gave the stock an “outperform” rating in a research note on Thursday, September 26th. Ten investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat.com, McDonald’s currently has an average rating of “Moderate Buy” and an average target price of $310.50.

McDonald’s Stock Performance

Shares of MCD stock traded up $1.00 during mid-day trading on Friday, reaching $305.04. The company’s stock had a trading volume of 1,775,710 shares, compared to its average volume of 3,376,543. McDonald’s Co. has a 1-year low of $243.53 and a 1-year high of $306.96. The company has a market cap of $218.82 billion, a P/E ratio of 26.69, a PEG ratio of 4.05 and a beta of 0.73. The firm’s 50-day moving average is $290.21 and its two-hundred day moving average is $272.60.

McDonald’s (NYSE:MCD) last announced its quarterly earnings data on Monday, July 29th. The fast-food giant reported $2.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.10). McDonald’s had a net margin of 32.25% and a negative return on equity of 178.68%. The business had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.62 billion. During the same quarter in the prior year, the company posted $3.17 EPS. The company’s quarterly revenue was down .1% compared to the same quarter last year. Sell-side analysts anticipate that McDonald’s Co. will post 11.71 EPS for the current year.

McDonald’s Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a dividend of $1.77 per share. 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 2.32%. The ex-dividend date of this dividend is Monday, December 2nd. McDonald’s’s dividend payout ratio (DPR) is currently 58.44%.

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.