Armstrong Advisory Group Inc. reduced its position in shares of McDonald’s Co. (NYSE:MCD – Free Report) by 4.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,416 shares of the fast-food giant’s stock after selling 159 shares during the period. Armstrong Advisory Group Inc.’s holdings in McDonald’s were worth $1,040,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Steigerwald Gordon & Koch Inc. grew its stake in McDonald’s by 2.4% during the 3rd quarter. Steigerwald Gordon & Koch Inc. now owns 1,422 shares of the fast-food giant’s stock worth $433,000 after purchasing an additional 33 shares in the last quarter. Founders Financial Alliance LLC grew its holdings in McDonald’s by 0.7% during the 2nd quarter. Founders Financial Alliance LLC now owns 4,980 shares of the fast-food giant’s stock worth $1,269,000 after acquiring an additional 36 shares in the last quarter. 9258 Wealth Management LLC raised its holdings in shares of McDonald’s by 1.3% in the 1st quarter. 9258 Wealth Management LLC now owns 2,833 shares of the fast-food giant’s stock valued at $799,000 after purchasing an additional 37 shares in the last quarter. Cohen Investment Advisors LLC lifted its position in shares of McDonald’s by 0.4% during the 3rd quarter. Cohen Investment Advisors LLC now owns 10,049 shares of the fast-food giant’s stock worth $3,060,000 after purchasing an additional 37 shares during the last quarter. Finally, Independence Bank of Kentucky grew its stake in shares of McDonald’s by 1.3% during the first quarter. Independence Bank of Kentucky now owns 2,913 shares of the fast-food giant’s stock worth $821,000 after purchasing an additional 38 shares in the last quarter. 70.29% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of analysts have issued reports on the company. Citigroup lifted their price target on McDonald’s from $301.00 to $317.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Robert W. Baird upped their target price on shares of McDonald’s from $280.00 to $320.00 and gave the company an “outperform” rating in a report on Thursday, September 26th. Barclays decreased their price objective on shares of McDonald’s from $320.00 to $300.00 and set an “overweight” rating for the company in a research note on Tuesday, July 30th. KeyCorp increased their price objective 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 target price on shares of McDonald’s in a report on Monday, July 29th. Ten analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $310.50.
McDonald’s Price Performance
Shares of NYSE:MCD opened at $305.04 on Monday. The firm has a market capitalization of $219.84 billion, a price-to-earnings ratio of 25.89, a price-to-earnings-growth ratio of 4.05 and a beta of 0.73. The business’s 50 day simple moving average is $290.21 and its 200-day simple moving average is $272.49. McDonald’s Co. has a 12 month low of $243.53 and a 12 month high of $306.96.
McDonald’s (NYSE:MCD – Get Free Report) last issued its quarterly 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 negative return on equity of 178.68% and a net margin of 32.25%. The business had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.62 billion. During the same period in the prior year, the company earned $3.17 EPS. The company’s revenue for the quarter was down .1% compared to the same quarter last year. On average, equities analysts anticipate that McDonald’s Co. will post 11.71 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. Investors of record on Monday, December 2nd will be issued a $1.77 dividend. This represents a $7.08 dividend on an annualized basis and a yield of 2.32%. This is an increase from McDonald’s’s previous quarterly dividend of $1.67. The ex-dividend date is Monday, December 2nd. McDonald’s’s payout ratio is presently 60.10%.
Insider Buying and Selling
In related news, insider Joseph M. Erlinger sold 1,099 shares of the business’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $260.00, for a total transaction of $285,740.00. Following the transaction, the insider now directly owns 13,681 shares of the company’s stock, valued at approximately $3,557,060. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, EVP Marion K. Gross sold 1,498 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $286.36, for a total transaction of $428,967.28. Following the completion of 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Joseph M. Erlinger sold 1,099 shares of the company’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $260.00, for a total transaction of $285,740.00. Following the completion of the sale, the insider now directly owns 13,681 shares in the company, valued at $3,557,060. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 31,751 shares of company stock valued at $9,493,973. Insiders own 0.23% of the company’s stock.
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.
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