Concorde Asset Management LLC Purchases 346 Shares of McDonald’s Co. (NYSE:MCD)

Concorde Asset Management LLC lifted its position in McDonald’s Co. (NYSE:MCD) by 28.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,570 shares of the fast-food giant’s stock after buying an additional 346 shares during the period. Concorde Asset Management LLC’s holdings in McDonald’s were worth $478,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Kings Path Partners LLC bought a new stake in shares of McDonald’s in the 2nd quarter valued at $38,000. Hara Capital LLC bought a new position in McDonald’s during the 3rd quarter worth about $44,000. Peterson Financial Group Inc. bought a new position in McDonald’s during the 3rd quarter worth about $58,000. Opal Wealth Advisors LLC bought a new position in McDonald’s during the 2nd quarter worth about $59,000. Finally, Bbjs Financial Advisors LLC bought a new position in McDonald’s during the 2nd quarter worth about $65,000. Institutional investors own 70.29% of the company’s stock.

Insider Transactions at McDonald’s

In other 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 transaction of $428,967.28. Following the transaction, the executive vice president now owns 1,560 shares in the company, valued at approximately $446,721.60. The trade was a 48.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Joseph M. Erlinger sold 1,099 shares of the business’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $292.38, for a total transaction of $321,325.62. Following the completion of the transaction, the insider now owns 10,385 shares in the company, valued at approximately $3,036,366.30. The trade was a 9.57 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 34,498 shares of company stock worth $10,381,296. Company insiders own 0.23% of the company’s stock.

McDonald’s Price Performance

Shares of NYSE:MCD opened at $288.32 on Friday. The company’s 50 day simple moving average is $299.98 and its 200 day simple moving average is $277.91. The stock has a market capitalization of $206.61 billion, a price-to-earnings ratio of 25.31, a price-to-earnings-growth ratio of 3.87 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 announced its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $6.82 billion. McDonald’s had a net margin of 31.79% and a negative return on equity of 175.42%. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period last year, the firm posted $3.19 earnings per share. As a group, analysts anticipate that McDonald’s Co. will post 11.77 EPS for the current fiscal year.

McDonald’s Increases Dividend

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date is Monday, December 2nd. This is a positive change from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s payout ratio is 58.65%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on MCD shares. Wells Fargo & Company increased their target price on McDonald’s from $285.00 to $350.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. The Goldman Sachs Group increased their price objective on shares of McDonald’s from $284.00 to $325.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 24th. Wedbush restated an “outperform” rating and set a $295.00 price objective on shares of McDonald’s in a research note on Wednesday, October 23rd. Baird R W downgraded shares of McDonald’s from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Finally, TD Cowen restated a “hold” rating and set a $300.00 price objective on shares of McDonald’s in a research note on Tuesday, October 29th. Thirteen analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $319.46.

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.