Oppenheimer Asset Management Inc. Boosts Stake in McDonald’s Co. (NYSE:MCD)

Oppenheimer Asset Management Inc. boosted its stake in McDonald’s Co. (NYSE:MCD) by 1.9% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 14,413 shares of the fast-food giant’s stock after buying an additional 272 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in McDonald’s were worth $4,389,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Quent Capital LLC raised its holdings in McDonald’s by 10.4% in the 1st quarter. Quent Capital LLC now owns 3,006 shares of the fast-food giant’s stock valued at $848,000 after acquiring an additional 282 shares during the last quarter. Strait & Sound Wealth Management LLC raised its holdings in McDonald’s by 9.8% in the 1st quarter. Strait & Sound Wealth Management LLC now owns 797 shares of the fast-food giant’s stock valued at $214,000 after acquiring an additional 71 shares during the last quarter. Catalytic Wealth RIA LLC raised its holdings in McDonald’s by 3.9% in the 1st quarter. Catalytic Wealth RIA LLC now owns 4,470 shares of the fast-food giant’s stock valued at $1,260,000 after acquiring an additional 168 shares during the last quarter. Hillsdale Investment Management Inc. raised its holdings in McDonald’s by 9.3% in the 1st quarter. Hillsdale Investment Management Inc. now owns 1,653 shares of the fast-food giant’s stock valued at $466,000 after acquiring an additional 140 shares during the last quarter. Finally, Trustmark National Bank Trust Department raised its holdings in McDonald’s by 6.7% in the 1st quarter. Trustmark National Bank Trust Department now owns 15,881 shares of the fast-food giant’s stock valued at $4,478,000 after acquiring an additional 995 shares during the last quarter. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Insider Buying and Selling at McDonald’s

In related news, insider Joseph M. Erlinger sold 1,098 shares of the firm’s 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 transaction, the insider now owns 12,583 shares in the company, valued at $3,632,712.10. This trade represents a 8.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Christopher J. Kempczinski sold 11,727 shares of the firm’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 transaction, the chief executive officer now owns 49,885 shares in the company, valued at $14,966,996.55. This represents a 19.03 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, 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 Stock Down 2.0 %

MCD opened at $292.52 on Friday. The firm has a market cap of $209.63 billion, a price-to-earnings ratio of 25.68, a price-to-earnings-growth ratio of 3.95 and a beta of 0.74. McDonald’s Co. has a fifty-two week low of $243.53 and a fifty-two week high of $317.90. The company’s 50-day moving average price is $300.00 and its 200 day moving average price is $277.29.

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, topping the consensus estimate of $3.18 by $0.05. The firm had revenue of $6.87 billion for the quarter, compared to analyst estimates of $6.82 billion. McDonald’s had a net margin of 31.79% and a negative return on equity of 175.42%. McDonald’s’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.19 earnings per share. Research analysts anticipate that McDonald’s Co. will post 11.77 earnings per share for the current year.

McDonald’s Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a $1.77 dividend. The ex-dividend date is Monday, December 2nd. This represents a $7.08 annualized dividend and a dividend yield of 2.42%. This is a positive change from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s dividend payout ratio (DPR) is presently 58.65%.

Analysts Set New Price Targets

Several research analysts have weighed in on MCD shares. Deutsche Bank Aktiengesellschaft cut their price target on McDonald’s from $295.00 to $290.00 and set a “buy” rating for the company in a report on Tuesday, July 30th. Wells Fargo & Company upped their price objective on McDonald’s from $285.00 to $350.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Bank of America upped their price objective on McDonald’s from $321.00 to $324.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Argus upgraded McDonald’s from a “hold” rating to a “buy” rating in a report on Tuesday, October 8th. Finally, Robert W. Baird downgraded McDonald’s from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $320.00 to $290.00 in a report on Wednesday, October 23rd. Thirteen research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $319.46.

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.