Concurrent Investment Advisors LLC Acquires 2,517 Shares of McDonald’s Co. (NYSE:MCD)

Concurrent Investment Advisors LLC grew its stake in shares of McDonald’s Co. (NYSE:MCD) by 8.1% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 33,748 shares of the fast-food giant’s stock after purchasing an additional 2,517 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in McDonald’s were worth $10,277,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the company. Kings Path Partners LLC bought a new stake in McDonald’s in the second quarter valued at approximately $38,000. Opal Wealth Advisors LLC bought a new stake in shares of McDonald’s during the 2nd quarter worth about $59,000. Bbjs Financial Advisors LLC acquired a new position in shares of McDonald’s in the second quarter valued at approximately $65,000. Macroview Investment Management LLC lifted its holdings in McDonald’s by 433.3% during the 2nd quarter. Macroview Investment Management LLC now owns 256 shares of the fast-food giant’s stock worth $65,000 after purchasing an additional 208 shares during the last quarter. Finally, Lynx Investment Advisory acquired a new position in McDonald’s in the 2nd quarter valued at $75,000. Institutional investors and hedge funds own 70.29% of the company’s stock.

Insider Buying and Selling

In related news, EVP Marion K. Gross sold 1,499 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $294.51, for a total transaction of $441,470.49. Following the completion of the sale, the executive vice president now directly owns 1,560 shares of the company’s stock, valued at approximately $459,435.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other McDonald’s news, EVP Marion K. Gross sold 1,499 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $294.51, for a total transaction of $441,470.49. Following the completion of the sale, the executive vice president now directly owns 1,560 shares of the company’s stock, valued at approximately $459,435.60. This represents a 0.00 % decrease in their ownership of the stock. 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 firm’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $292.38, for a total value of $321,325.62. Following the completion of the sale, the insider now directly owns 10,385 shares of the company’s stock, valued at $3,036,366.30. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 35,596 shares of company stock valued at $10,698,289. Company insiders own 0.23% of the company’s stock.

Wall Street Analyst Weigh In

MCD has been the topic of a number of analyst reports. JPMorgan Chase & Co. increased their price target on McDonald’s from $270.00 to $290.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Citigroup increased 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. Guggenheim lowered McDonald’s from a “buy” rating to a “neutral” rating and cut their target price for the company from $290.00 to $285.00 in a research report on Wednesday, October 23rd. BMO Capital Markets lifted their target price on McDonald’s from $315.00 to $335.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, The Goldman Sachs Group raised their price target on shares of McDonald’s from $284.00 to $325.00 and gave the stock a “neutral” rating in a report on Tuesday, September 24th. Thirteen investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $319.46.

McDonald’s Stock Down 0.6 %

MCD traded down $1.66 during midday trading on Wednesday, reaching $295.66. The company had a trading volume of 1,031,188 shares, compared to its average volume of 3,510,955. The business has a 50-day moving average of $298.60 and a two-hundred day moving average of $276.23. The company has a market cap of $212.09 billion, a P/E ratio of 26.09, a P/E/G ratio of 3.92 and a beta of 0.74. McDonald’s Co. has a 1 year low of $243.53 and a 1 year high of $317.90.

McDonald’s (NYSE:MCD) last issued its quarterly earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share for the quarter, beating the consensus estimate of $3.18 by $0.05. The business had revenue of $6.87 billion for the quarter, compared to the consensus estimate of $6.82 billion. McDonald’s had a net margin of 31.79% and a negative return on equity of 178.99%. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.19 earnings per share. On average, equities research analysts predict that McDonald’s Co. will post 11.77 EPS for the current year.

McDonald’s Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a $1.77 dividend. This represents a $7.08 annualized dividend and a dividend yield of 2.39%. The ex-dividend date of this dividend is Monday, December 2nd. This is a positive change from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s dividend payout ratio (DPR) is 58.65%.

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.