Griffin Asset Management Inc. Grows Stake in McDonald’s Co. (NYSE:MCD)

Griffin Asset Management Inc. increased its holdings in shares of McDonald’s Co. (NYSE:MCD) by 3.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,885 shares of the fast-food giant’s stock after purchasing an additional 267 shares during the quarter. Griffin Asset Management Inc.’s holdings in McDonald’s were worth $2,706,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MCD. Steigerwald Gordon & Koch Inc. raised its stake in shares of McDonald’s by 2.4% during the third quarter. Steigerwald Gordon & Koch Inc. now owns 1,422 shares of the fast-food giant’s stock valued at $433,000 after purchasing an additional 33 shares in the last quarter. Founders Financial Alliance LLC raised its position in shares of 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 buying an additional 36 shares in the last quarter. 9258 Wealth Management LLC lifted its stake 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 worth $799,000 after acquiring an additional 37 shares during the period. Cohen Investment Advisors LLC boosted its holdings in shares of McDonald’s by 0.4% in the third quarter. Cohen Investment Advisors LLC now owns 10,049 shares of the fast-food giant’s stock valued at $3,060,000 after acquiring an additional 37 shares in the last quarter. Finally, Independence Bank of Kentucky increased 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 valued at $821,000 after acquiring an additional 38 shares during the period. 70.29% of the stock is owned by institutional investors and hedge funds.

McDonald’s Price Performance

Shares of MCD stock opened at $313.32 on Wednesday. McDonald’s Co. has a fifty-two week low of $243.53 and a fifty-two week high of $315.36. The stock’s 50-day moving average is $291.90 and its two-hundred day moving average is $272.91. The firm has a market cap of $225.80 billion, a P/E ratio of 26.60, a PEG ratio of 4.05 and a beta of 0.73.

McDonald’s (NYSE:MCD) last posted its earnings results on Monday, July 29th. The fast-food giant reported $2.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.10). McDonald’s had a net margin of 32.25% and a negative return on equity of 178.68%. The business had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.62 billion. During the same quarter last year, the firm earned $3.17 earnings per share. McDonald’s’s revenue was down .1% compared to the same quarter last year. As a group, research analysts expect that McDonald’s Co. will post 11.71 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. Shareholders of record on Monday, December 2nd will be given a $1.77 dividend. The ex-dividend date is Monday, December 2nd. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.26%. This is a boost from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s payout ratio is currently 60.10%.

Analysts Set New Price Targets

A number of brokerages have issued reports on MCD. Citigroup increased their price target on McDonald’s from $301.00 to $317.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. Wedbush reaffirmed an “outperform” rating and set a $295.00 target price on shares of McDonald’s in a research note on Monday, July 29th. Argus upgraded shares of McDonald’s from a “hold” rating to a “buy” rating in a research report on Tuesday, October 8th. The Goldman Sachs Group raised their price objective on shares of McDonald’s from $284.00 to $325.00 and gave the company a “neutral” rating in a research report on Tuesday, September 24th. Finally, Loop Capital reiterated a “buy” rating and issued a $342.00 target price on shares of McDonald’s in a report on Tuesday, September 10th. Ten equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $314.92.

Insider Transactions at McDonald’s

In related news, EVP Marion K. Gross sold 1,498 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $286.36, for a total value of $428,967.28. Following the completion of the sale, the executive vice president now directly owns 1,560 shares in the company, valued at approximately $446,721.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, EVP Marion K. Gross sold 1,498 shares of McDonald’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $286.36, for a total value of $428,967.28. Following the transaction, the executive vice president now owns 1,560 shares in the company, valued at $446,721.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Christopher J. Kempczinski sold 11,727 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now owns 49,885 shares of the company’s stock, valued at $14,966,996.55. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,097 shares of company stock worth $10,221,233. 0.23% of the stock is owned by corporate insiders.

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.