Retirement Guys Formula LLC Boosts Stake in McDonald’s Co. (NYSE:MCD)

Retirement Guys Formula LLC grew its stake in shares of McDonald’s Co. (NYSE:MCD) by 17.1% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 3,275 shares of the fast-food giant’s stock after buying an additional 478 shares during the period. Retirement Guys Formula LLC’s holdings in McDonald’s were worth $997,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in MCD. Dixon Mitchell Investment Counsel Inc. purchased a new position in McDonald’s in the 1st quarter worth $28,000. Kings Path Partners LLC purchased a new position in McDonald’s in the 2nd quarter worth $38,000. Keener Financial Planning LLC raised its position in McDonald’s by 32.3% in the 1st quarter. Keener Financial Planning LLC now owns 176 shares of the fast-food giant’s stock worth $50,000 after purchasing an additional 43 shares during the period. Opal Wealth Advisors LLC purchased a new position in McDonald’s in the 2nd quarter worth $59,000. Finally, Bbjs Financial Advisors LLC purchased a new position in McDonald’s in the 2nd quarter worth $65,000. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Wedbush reiterated an “outperform” rating and issued a $295.00 target price on shares of McDonald’s in a research report on Monday, July 29th. KeyCorp lifted their target price on shares of McDonald’s from $305.00 to $330.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Wells Fargo & Company boosted their price objective on shares of McDonald’s from $285.00 to $350.00 and gave the company an “overweight” rating in a research report on Monday. JPMorgan Chase & Co. boosted their price objective on shares of McDonald’s from $270.00 to $290.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Finally, Evercore ISI boosted their price objective on shares of McDonald’s from $320.00 to $340.00 and gave the company an “outperform” rating in a research report on Tuesday, October 15th. Ten analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $318.59.

McDonald’s Stock Down 0.4 %

Shares of NYSE MCD traded down $1.32 during midday trading on Monday, hitting $315.24. The stock had a trading volume of 1,114,871 shares, compared to its average volume of 3,345,582. The business’s 50 day moving average is $294.62 and its 200-day moving average is $273.69. The company has a market cap of $227.19 billion, a P/E ratio of 26.76, a PEG ratio of 4.05 and a beta of 0.73. McDonald’s Co. has a 52 week low of $243.53 and a 52 week high of $317.90.

McDonald’s (NYSE:MCD) last issued its earnings results on Monday, July 29th. The fast-food giant reported $2.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.07 by ($0.10). McDonald’s had a negative return on equity of 178.68% and a net margin of 32.25%. The firm had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $6.62 billion. During the same quarter in the prior year, the company posted $3.17 EPS. The company’s quarterly revenue was down .1% on a year-over-year basis. As a group, analysts expect that McDonald’s Co. will post 11.71 EPS for the current fiscal year.

McDonald’s Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a dividend of $1.77 per share. This represents a $7.08 annualized dividend and a dividend yield of 2.25%. This is a boost from McDonald’s’s previous quarterly dividend of $1.67. The ex-dividend date of this dividend is Monday, December 2nd. McDonald’s’s payout ratio is presently 60.10%.

Insider Activity

In other news, insider Joseph M. Erlinger sold 1,098 shares of the business’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 completion of the transaction, the insider now directly owns 12,583 shares of the company’s stock, valued at $3,632,712.10. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other McDonald’s news, insider Joseph M. Erlinger sold 1,099 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $260.00, for a total transaction of $285,740.00. Following the transaction, the insider now owns 13,681 shares of the company’s stock, valued at approximately $3,557,060. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Joseph M. Erlinger sold 1,098 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $288.70, for a total transaction of $316,992.60. Following the completion of the sale, the insider now owns 12,583 shares in the company, valued at $3,632,712.10. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,097 shares of company stock valued at $10,221,233 over the last three months. Insiders own 0.23% of the company’s stock.

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.