Heirloom Wealth Management Buys 698 Shares of McDonald’s Co. (NYSE:MCD)

Heirloom Wealth Management boosted its stake in McDonald’s Co. (NYSE:MCD) by 2.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 27,930 shares of the fast-food giant’s stock after purchasing an additional 698 shares during the period. McDonald’s makes up approximately 2.7% of Heirloom Wealth Management’s holdings, making the stock its 14th largest position. Heirloom Wealth Management’s holdings in McDonald’s were worth $8,505,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in MCD. Legal & General Group Plc grew its holdings in shares of McDonald’s by 3.2% in the second quarter. Legal & General Group Plc now owns 6,149,080 shares of the fast-food giant’s stock worth $1,567,030,000 after acquiring an additional 188,888 shares during the period. Capital Research Global Investors boosted its position in 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 worth $1,542,550,000 after purchasing an additional 2,193,769 shares during the last quarter. Ameriprise Financial Inc. grew its stake in shares of McDonald’s by 8.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 4,761,625 shares of the fast-food giant’s stock valued at $1,216,677,000 after purchasing an additional 354,196 shares during the period. Capital World Investors increased its position in shares of McDonald’s by 39.7% during the 1st quarter. Capital World Investors now owns 3,565,398 shares of the fast-food giant’s stock valued at $1,005,264,000 after purchasing an additional 1,012,534 shares during the last quarter. Finally, Fayez Sarofim & Co lifted its stake in shares of McDonald’s by 0.4% in the 1st quarter. Fayez Sarofim & Co now owns 2,273,354 shares of the fast-food giant’s stock worth $640,972,000 after purchasing an additional 8,475 shares during the period. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Christopher J. Kempczinski sold 11,727 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $300.03, for a total transaction of $3,518,451.81. Following the sale, the chief executive officer now directly owns 49,885 shares in the company, valued at approximately $14,966,996.55. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CMO Edith Morgan Flatley sold 2,346 shares of the firm’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $310.00, for a total value of $727,260.00. Following the completion of the sale, the chief marketing officer now directly owns 2,905 shares in the company, valued at $900,550. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Christopher J. Kempczinski sold 11,727 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $300.03, for a total transaction of $3,518,451.81. Following the transaction, the chief executive officer now owns 49,885 shares in the company, valued at $14,966,996.55. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 34,097 shares of company stock valued at $10,221,233 in the last three months. Corporate insiders own 0.23% of the company’s stock.

McDonald’s Trading Up 0.6 %

NYSE:MCD opened at $314.75 on Friday. The business’s 50-day moving average is $293.64 and its 200 day moving average is $273.48. McDonald’s Co. has a 12 month low of $243.53 and a 12 month high of $315.36. The company has a market capitalization of $226.83 billion, a P/E ratio of 26.72, a P/E/G ratio of 4.05 and a beta of 0.73.

McDonald’s (NYSE:MCD) last issued its quarterly earnings data on Monday, July 29th. The fast-food giant reported $2.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.07 by ($0.10). The firm had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.62 billion. McDonald’s had a negative return on equity of 178.68% and a net margin of 32.25%. The firm’s revenue was down .1% on a year-over-year basis. During the same period last year, the company earned $3.17 earnings per share. On average, research analysts forecast that McDonald’s Co. will post 11.71 earnings per share 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 given a dividend of $1.77 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $7.08 annualized dividend and a yield of 2.25%. This is a positive change from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s dividend payout ratio (DPR) is 60.10%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Evercore ISI upped their target price on shares of McDonald’s from $320.00 to $340.00 and gave the company an “outperform” rating in a report on Tuesday. Loop Capital restated a “buy” rating and issued a $342.00 price objective on shares of McDonald’s in a research note on Tuesday, September 10th. Robert W. Baird lifted their target price on McDonald’s from $280.00 to $320.00 and gave the company an “outperform” rating in a research report on Thursday, September 26th. KeyCorp boosted their price target on McDonald’s from $305.00 to $330.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $295.00 price objective on shares of McDonald’s in a research note on Monday, July 29th. Ten investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to MarketBeat.com, McDonald’s currently has an average rating of “Moderate Buy” and an average target price of $315.69.

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.