McDonald’s Co. (NYSE:MCD) Shares Acquired by Morse Asset Management Inc

Morse Asset Management Inc boosted its holdings in McDonald’s Co. (NYSE:MCD) by 12.8% during the 3rd quarter, Holdings Channel.com reports. The fund owned 3,385 shares of the fast-food giant’s stock after purchasing an additional 385 shares during the quarter. Morse Asset Management Inc’s holdings in McDonald’s were worth $1,031,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. RPg Family Wealth Advisory LLC bought a new position in shares of McDonald’s in the third quarter valued at $31,000. Kings Path Partners LLC acquired a new stake in shares of McDonald’s during the second quarter valued at approximately $38,000. Hara Capital LLC acquired a new position in McDonald’s in the 3rd quarter worth approximately $44,000. Peterson Financial Group Inc. purchased a new position in shares of McDonald’s during the third quarter valued at $58,000. Finally, Opal Wealth Advisors LLC acquired a new position in McDonald’s during the second quarter valued at $59,000. 70.29% of the stock is owned by institutional investors and hedge funds.

McDonald’s Trading Up 0.7 %

MCD stock opened at $294.50 on Wednesday. McDonald’s Co. has a 1-year low of $243.53 and a 1-year high of $317.90. The business’s 50-day moving average price is $299.72 and its two-hundred day moving average price is $279.33. The firm has a market cap of $211.04 billion, a PE ratio of 25.86, a P/E/G ratio of 3.89 and a beta of 0.73.

McDonald’s (NYSE:MCD) last released its quarterly earnings data 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 analysts’ expectations of $6.82 billion. McDonald’s had a negative return on equity of 175.42% and a net margin of 31.79%. McDonald’s’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.19 EPS. On average, analysts forecast that McDonald’s Co. will post 11.77 earnings per share for the current year.

McDonald’s Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a dividend of $1.77 per share. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.40%. This is a positive change from McDonald’s’s previous quarterly dividend of $1.67. The ex-dividend date is Monday, December 2nd. McDonald’s’s dividend payout ratio (DPR) is presently 62.16%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on MCD shares. Baird R W downgraded McDonald’s from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Guggenheim lowered shares of McDonald’s from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $290.00 to $285.00 in a research note on Wednesday, October 23rd. Jefferies Financial Group lifted their target price on shares of McDonald’s from $310.00 to $330.00 and gave the company a “buy” rating in a research note on Monday, September 9th. Barclays increased their price objective on McDonald’s from $300.00 to $325.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. Finally, Evercore ISI raised their price target on shares of McDonald’s from $320.00 to $340.00 and gave the company an “outperform” rating in a report on Tuesday, October 15th. Thirteen research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat, McDonald’s currently has a consensus rating of “Moderate Buy” and a consensus target price of $319.64.

Insider Activity at McDonald’s

In related news, insider Joseph M. Erlinger sold 1,099 shares of the firm’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $292.38, for a total value of $321,325.62. Following the completion of the transaction, the insider now directly owns 10,385 shares of the company’s stock, valued at approximately $3,036,366.30. This trade represents a 9.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Christopher J. Kempczinski sold 11,727 shares of the company’s stock in a transaction on Monday, September 23rd. The stock was 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 $14,966,996.55. This trade represents a 19.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 34,099 shares of company stock valued at $10,273,786. 0.23% of the stock is owned by corporate insiders.

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.