Weatherly Asset Management L. P. Purchases 387 Shares of McDonald’s Co. (NYSE:MCD)

Weatherly Asset Management L. P. increased its stake in McDonald’s Co. (NYSE:MCD) by 8.8% in the 3rd quarter, Holdings Channel reports. The fund owned 4,765 shares of the fast-food giant’s stock after buying an additional 387 shares during the quarter. Weatherly Asset Management L. P.’s holdings in McDonald’s were worth $1,451,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Van ECK Associates Corp raised its position in McDonald’s by 3.1% in the 1st quarter. Van ECK Associates Corp now owns 16,166 shares of the fast-food giant’s stock worth $4,558,000 after purchasing an additional 484 shares during the period. Tokio Marine Asset Management Co. Ltd. lifted its stake in shares of McDonald’s by 9.3% in the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 17,917 shares of the fast-food giant’s stock valued at $5,052,000 after acquiring an additional 1,525 shares during the last quarter. BNP Paribas purchased a new position in McDonald’s in the 1st quarter worth approximately $7,898,000. Montgomery Investment Management Inc. boosted its stake in shares of McDonald’s by 2.5% during the first quarter. Montgomery Investment Management Inc. now owns 6,208 shares of the fast-food giant’s stock valued at $1,750,000 after purchasing an additional 150 shares during the period. Finally, Fidelis Capital Partners LLC increased its stake in shares of McDonald’s by 18.6% in the first quarter. Fidelis Capital Partners LLC now owns 7,160 shares of the fast-food giant’s stock worth $2,019,000 after buying an additional 1,124 shares during the period. Institutional investors own 70.29% of the company’s stock.

Insider Activity at McDonald’s

In related news, CEO Christopher J. Kempczinski sold 11,727 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 49,885 shares in the company, valued at approximately $14,966,996.55. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other McDonald’s news, EVP Marion K. Gross sold 1,498 shares of the company’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 transaction, the executive vice president now directly owns 1,560 shares in the company, valued at $446,721.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Christopher J. Kempczinski sold 11,727 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $300.03, for a total value of $3,518,451.81. Following the completion of the transaction, the chief executive officer now owns 49,885 shares of the company’s stock, valued at $14,966,996.55. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,097 shares of company stock worth $10,256,818. 0.23% of the stock is owned by company insiders.

McDonald’s Stock Up 1.1 %

McDonald’s stock opened at $295.24 on Friday. The business has a 50-day simple moving average of $298.36 and a two-hundred day simple moving average of $275.78. The company has a market cap of $211.79 billion, a P/E ratio of 25.92, a P/E/G ratio of 3.85 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 released its quarterly earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.18 by $0.05. The business had revenue of $6.87 billion during the quarter, compared to the consensus estimate of $6.82 billion. McDonald’s had a negative return on equity of 178.99% and a net margin of 31.79%. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the company posted $3.19 EPS. Research analysts anticipate that McDonald’s Co. will post 11.78 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. Investors of record on Monday, December 2nd will be paid a dividend of $1.77 per share. The ex-dividend date is Monday, December 2nd. This is an increase from McDonald’s’s previous quarterly dividend of $1.67. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.40%. McDonald’s’s payout ratio is 58.65%.

Analyst Ratings Changes

Several analysts recently issued reports on the company. The Goldman Sachs Group raised their target price on McDonald’s from $284.00 to $325.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 24th. Truist Financial cut their price target on shares of McDonald’s from $350.00 to $342.00 and set a “buy” rating on the stock in a report on Wednesday. Bank of America lifted their price target on shares of McDonald’s from $321.00 to $324.00 and gave the company a “neutral” rating in a report on Wednesday. Wells Fargo & Company lifted their price target on shares of McDonald’s from $285.00 to $350.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Finally, Tigress Financial lifted their price target on shares of McDonald’s from $355.00 to $360.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Thirteen equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $319.46.

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.