McDonald’s Co. (NYSE:MCD) Shares Purchased by Acorn Financial Advisory Services Inc. ADV

Acorn Financial Advisory Services Inc. ADV increased its stake in shares of McDonald’s Co. (NYSE:MCD) by 12.4% in the 3rd quarter, Holdings Channel reports. The firm owned 1,446 shares of the fast-food giant’s stock after purchasing an additional 159 shares during the period. Acorn Financial Advisory Services Inc. ADV’s holdings in McDonald’s were worth $440,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Hantz Financial Services Inc. purchased a new stake in shares of McDonald’s in the 2nd quarter valued at approximately $6,612,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in shares of McDonald’s by 58.9% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 138,102 shares of the fast-food giant’s stock valued at $35,194,000 after buying an additional 51,210 shares during the period. U.S. Capital Wealth Advisors LLC grew its stake in shares of McDonald’s by 6.5% in the 3rd 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 buying an additional 2,997 shares during the period. Quintet Private Bank Europe S.A. grew its stake in shares of McDonald’s by 17.1% in the 3rd quarter. Quintet Private Bank Europe S.A. now owns 49,318 shares of the fast-food giant’s stock valued at $15,018,000 after buying an additional 7,200 shares during the period. Finally, First Financial Bankshares Inc grew its stake in shares of McDonald’s by 11.7% in the 3rd quarter. First Financial Bankshares Inc now owns 313,961 shares of the fast-food giant’s stock valued at $95,604,000 after buying an additional 32,890 shares during the period. Institutional investors and hedge funds own 70.29% of the company’s stock.

McDonald’s Trading Up 1.5 %

Shares of McDonald’s stock traded up $4.31 on Friday, reaching $298.97. 3,279,284 shares of the stock were exchanged, compared to its average volume of 4,858,855. McDonald’s Co. has a 1-year low of $243.53 and a 1-year high of $317.90. The business has a fifty day moving average price of $299.08 and a two-hundred day moving average price of $276.64. The firm has a market capitalization of $214.46 billion, a PE ratio of 26.25, a PEG ratio of 3.91 and a beta of 0.74.

McDonald’s (NYSE:MCD) last issued its quarterly earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.18 by $0.05. McDonald’s had a net margin of 31.79% and a negative return on equity of 178.99%. The business had revenue of $6.87 billion for the quarter, compared to analyst estimates of $6.82 billion. During the same period in the previous year, the business posted $3.19 earnings per share. The business’s revenue was up 2.7% compared to the same quarter last year. Research analysts expect that McDonald’s Co. will post 11.77 EPS 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 given a dividend of $1.77 per share. This is a positive change from McDonald’s’s previous quarterly dividend of $1.67. This represents a $7.08 annualized dividend and a yield of 2.37%. The ex-dividend date is Monday, December 2nd. McDonald’s’s dividend payout ratio is presently 58.65%.

Analyst Upgrades and Downgrades

MCD has been the subject of several analyst reports. KeyCorp increased their price target on shares of McDonald’s from $305.00 to $330.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Wedbush reaffirmed an “outperform” rating and set a $295.00 price objective on shares of McDonald’s in a research report on Wednesday, October 23rd. Citigroup raised their price target on shares of McDonald’s from $301.00 to $317.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. Robert W. Baird cut shares of McDonald’s from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $320.00 to $290.00 in a research report on Wednesday, October 23rd. Finally, TD Cowen reissued a “hold” rating and issued a $300.00 price target on shares of McDonald’s in a research report on Tuesday, October 29th. Thirteen investment 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, the company presently has an average rating of “Moderate Buy” and a consensus price target of $319.46.

Insiders Place Their Bets

In other McDonald’s news, EVP Marion K. Gross sold 1,498 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $286.36, for a total transaction of $428,967.28. Following the transaction, the executive vice president now directly owns 1,560 shares in the company, valued at approximately $446,721.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO Christopher J. Kempczinski sold 11,727 shares of the 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 sale, the chief executive officer now directly owns 49,885 shares in the company, valued at $14,966,996.55. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Marion K. Gross sold 1,498 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $286.36, for a total transaction of $428,967.28. Following the completion of the sale, the executive vice president now owns 1,560 shares in the company, valued at $446,721.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 35,596 shares of company stock worth $10,698,289. 0.23% of the stock is owned by company insiders.

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.