Turtle Creek Wealth Advisors LLC Buys 478 Shares of McDonald’s Co. (NYSE:MCD)

Turtle Creek Wealth Advisors LLC increased its stake in McDonald’s Co. (NYSE:MCD) by 2.8% in the third quarter, Holdings Channel reports. The institutional investor owned 17,743 shares of the fast-food giant’s stock after acquiring an additional 478 shares during the period. Turtle Creek Wealth Advisors LLC’s holdings in McDonald’s were worth $5,403,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Steigerwald Gordon & Koch Inc. lifted its position in McDonald’s by 2.4% in the third 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 during the last quarter. Riversedge Advisors LLC increased its stake in McDonald’s by 2.0% in the third quarter. Riversedge Advisors LLC now owns 1,686 shares of the fast-food giant’s stock worth $513,000 after purchasing an additional 33 shares during the period. Proquility Private Wealth Partners LLC increased its stake in 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 worth $1,057,000 after purchasing an additional 35 shares during the period. Clear Creek Financial Management LLC increased its stake in 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 worth $396,000 after purchasing an additional 35 shares during the period. Finally, GDS Wealth Management increased its stake in McDonald’s by 1.4% in the third quarter. GDS Wealth Management now owns 2,504 shares of the fast-food giant’s stock worth $762,000 after purchasing an additional 35 shares during the period. 70.29% of the stock is currently owned by institutional investors.

McDonald’s Price Performance

NYSE MCD traded down $5.93 during trading on Friday, hitting $292.63. The company’s stock had a trading volume of 4,039,432 shares, compared to its average volume of 3,509,453. The company has a market cap of $209.70 billion, a PE ratio of 25.68, a P/E/G ratio of 3.95 and a beta of 0.74. The business’s 50 day simple moving average is $300.06 and its 200-day simple moving average is $277.42. McDonald’s Co. has a fifty-two week low of $243.53 and a fifty-two week high of $317.90.

McDonald’s (NYSE:MCD) last issued its quarterly earnings results 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 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 175.42% and a net margin of 31.79%. The company’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter last year, the company earned $3.19 earnings per share. Analysts expect that McDonald’s Co. will post 11.77 EPS for the current fiscal year.

McDonald’s Increases Dividend

The company also recently announced 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. This is an increase from McDonald’s’s previous quarterly dividend of $1.67. The ex-dividend date is Monday, December 2nd. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.42%. McDonald’s’s payout ratio is 58.65%.

Insider Activity

In other 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 value of $3,518,451.81. Following the completion of the sale, the chief executive officer now directly owns 49,885 shares in the company, valued at $14,966,996.55. The trade was a 19.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Marion K. Gross sold 1,499 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $294.51, for a total value 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 $459,435.60. This trade represents a 49.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 35,596 shares of company stock worth $10,698,289 over the last three months. 0.23% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on MCD shares. JPMorgan Chase & Co. increased their target price on McDonald’s from $270.00 to $290.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. Jefferies Financial Group increased their target price on McDonald’s from $310.00 to $330.00 and gave the stock a “buy” rating in a research note on Monday, September 9th. Bank of America increased their target price on McDonald’s from $321.00 to $324.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Guggenheim lowered McDonald’s from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $290.00 to $285.00 in a research note on Wednesday, October 23rd. Finally, Argus upgraded McDonald’s from a “hold” rating to a “buy” rating in a research note on Tuesday, October 8th. Thirteen equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target 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.