Meridian Wealth Management LLC Makes New $2.28 Million Investment in McDonald’s Co. (NYSE:MCD)

Meridian Wealth Management LLC acquired a new position in shares of McDonald’s Co. (NYSE:MCD) in the 3rd quarter, according to its most recent filing with the SEC. The fund acquired 7,479 shares of the fast-food giant’s stock, valued at approximately $2,277,000.

Several other large investors also recently bought and sold shares of the company. Steigerwald Gordon & Koch Inc. increased 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 buying an additional 33 shares in the last quarter. Riversedge Advisors LLC grew its position in shares of McDonald’s by 2.0% in the third quarter. Riversedge Advisors LLC now owns 1,686 shares of the fast-food giant’s stock valued at $513,000 after purchasing an additional 33 shares in the last quarter. Proquility Private Wealth Partners LLC grew its position in shares of McDonald’s by 1.0% in the third quarter. Proquility Private Wealth Partners LLC now owns 3,472 shares of the fast-food giant’s stock valued at $1,057,000 after purchasing an additional 35 shares in the last quarter. Clear Creek Financial Management LLC grew its position in shares of McDonald’s by 2.8% in the third quarter. Clear Creek Financial Management LLC now owns 1,300 shares of the fast-food giant’s stock valued at $396,000 after purchasing an additional 35 shares in the last quarter. Finally, GDS Wealth Management grew its position in shares of McDonald’s by 1.4% in the third quarter. GDS Wealth Management now owns 2,504 shares of the fast-food giant’s stock valued at $762,000 after purchasing an additional 35 shares in the last quarter. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

McDonald’s Stock Performance

Shares of MCD stock opened at $290.30 on Friday. The stock’s 50-day moving average is $299.85 and its two-hundred day moving average is $278.06. The firm has a market cap of $208.03 billion, a price-to-earnings ratio of 25.49, a PEG ratio of 3.84 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 data on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.18 by $0.05. McDonald’s had a negative return on equity of 175.42% and a net margin of 31.79%. The company had revenue of $6.87 billion for the quarter, compared to analyst estimates of $6.82 billion. During the same quarter last year, the company posted $3.19 earnings per share. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. As a group, research analysts predict that McDonald’s Co. will post 11.77 EPS for the current year.

McDonald’s Increases Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.44%. This is a positive change from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s dividend payout ratio (DPR) is currently 58.65%.

Wall Street Analyst Weigh In

MCD has been the subject of a number of analyst reports. Citigroup upped their price target on McDonald’s from $301.00 to $317.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. Evercore ISI upped their price target on McDonald’s from $320.00 to $340.00 and gave the company an “outperform” rating in a research report on Tuesday, October 15th. Guggenheim lowered McDonald’s from a “buy” rating to a “neutral” rating and dropped their price target for the company from $290.00 to $285.00 in a research report on Wednesday, October 23rd. Morgan Stanley upped their price target on McDonald’s from $296.00 to $340.00 and gave the company an “overweight” rating in a research report on Tuesday, October 15th. Finally, Argus upgraded McDonald’s from a “hold” rating to a “buy” rating in a research report on Tuesday, October 8th. Thirteen research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $319.46.

Insider Buying and Selling

In related news, insider Joseph M. Erlinger sold 1,099 shares of the firm’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $298.57, for a total value of $328,128.43. Following the completion of the sale, the insider now owns 11,484 shares in the company, valued at $3,428,777.88. This trade represents a 8.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Marion K. Gross sold 1,499 shares of the firm’s 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 owns 1,560 shares of the company’s stock, valued at approximately $459,435.60. The trade was a 49.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 34,498 shares of company stock valued at $10,381,296 over the last quarter. 0.23% of the stock is currently owned by 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.