McDonald’s Co. (NYSE:MCD) Position Boosted by Allworth Financial LP

Allworth Financial LP increased its stake in shares of McDonald’s Co. (NYSE:MCD) by 8.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 35,395 shares of the fast-food giant’s stock after purchasing an additional 2,674 shares during the quarter. Allworth Financial LP’s holdings in McDonald’s were worth $10,778,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MCD. Hantz Financial Services Inc. acquired a new stake in McDonald’s during the second quarter valued at $6,612,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in McDonald’s by 58.9% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 138,102 shares of the fast-food giant’s stock worth $35,194,000 after buying an additional 51,210 shares during the last quarter. U.S. Capital Wealth Advisors LLC increased its holdings in McDonald’s by 6.5% in the third quarter. U.S. Capital Wealth Advisors LLC now owns 49,186 shares of the fast-food giant’s stock worth $14,978,000 after buying an additional 2,997 shares during the last quarter. BNP Paribas acquired a new stake in McDonald’s in the first quarter valued at approximately $7,898,000. Finally, First Long Island Investors LLC grew its position in McDonald’s by 16.6% in the first quarter. First Long Island Investors LLC now owns 54,021 shares of the fast-food giant’s stock worth $15,231,000 after acquiring an additional 7,707 shares in the last quarter. 70.29% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Joseph M. Erlinger sold 1,098 shares of the business’s stock in a transaction on 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 sale, the insider now owns 12,583 shares in the company, valued at $3,632,712.10. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, CEO Christopher J. Kempczinski sold 11,727 shares of McDonald’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 transaction of $3,518,451.81. Following the completion of the sale, the chief executive officer now owns 49,885 shares in the company, valued at $14,966,996.55. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Joseph M. Erlinger sold 1,098 shares of the 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 owns 12,583 shares in the company, valued at $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 34,097 shares of company stock worth $10,256,818 in the last quarter. Insiders own 0.23% of the company’s stock.

McDonald’s Price Performance

Shares of MCD opened at $292.61 on Friday. The business’s 50 day simple moving average is $297.78 and its 200-day simple moving average is $274.91. McDonald’s Co. has a one year low of $243.53 and a one year high of $317.90. The company has a market capitalization of $210.88 billion, a P/E ratio of 24.84, a PEG ratio of 4.13 and a beta of 0.73.

McDonald’s (NYSE:MCD) last announced its earnings results on Monday, July 29th. The fast-food giant reported $2.97 earnings per share 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 last year, the business posted $3.17 earnings per share. The business’s quarterly revenue was down .1% compared to the same quarter last year. On average, sell-side analysts anticipate that McDonald’s Co. will post 11.73 EPS for the current fiscal year.

McDonald’s Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a dividend of $1.77 per share. This is a boost from McDonald’s’s previous quarterly dividend of $1.67. This represents a $7.08 annualized dividend and a dividend yield of 2.42%. The ex-dividend date is Monday, December 2nd. McDonald’s’s dividend payout ratio is 60.10%.

Analyst Ratings Changes

MCD has been the subject of several analyst reports. Morgan Stanley lifted their price objective 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. The Goldman Sachs Group boosted their price target on McDonald’s from $284.00 to $325.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 24th. BMO Capital Markets cut their price objective on McDonald’s from $330.00 to $315.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 30th. Citigroup increased their price target on McDonald’s from $301.00 to $317.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Finally, Guggenheim lowered shares of McDonald’s from a “buy” rating to a “neutral” rating and dropped their price target for the company from $290.00 to $285.00 in a research report on Wednesday. Thirteen equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to MarketBeat, McDonald’s currently has an average rating of “Moderate Buy” and a consensus price target of $318.22.

McDonald’s Company 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.