Eagle Asset Management Inc. Grows Position in McDonald’s Co. (NYSE:MCD)

Eagle Asset Management Inc. increased its stake in shares of McDonald’s Co. (NYSE:MCD) by 15.0% during the third quarter, Holdings Channel.com reports. The institutional investor owned 563,777 shares of the fast-food giant’s stock after buying an additional 73,362 shares during the quarter. McDonald’s accounts for about 0.9% of Eagle Asset Management Inc.’s investment portfolio, making the stock its 17th biggest holding. Eagle Asset Management Inc.’s holdings in McDonald’s were worth $168,552,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MCD. Kings Path Partners LLC purchased a new stake in shares of McDonald’s in the 2nd quarter valued at $38,000. Hara Capital LLC purchased a new stake in McDonald’s in the third quarter valued at $44,000. Peterson Financial Group Inc. acquired a new stake in McDonald’s during the 3rd quarter worth about $58,000. Opal Wealth Advisors LLC acquired a new position in shares of McDonald’s in the 2nd quarter valued at about $59,000. Finally, Bbjs Financial Advisors LLC purchased a new stake in shares of McDonald’s in the second quarter worth about $65,000. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Insider Transactions at McDonald’s

In related news, CFO Ian Frederick Borden sold 5,939 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $300.04, for a total transaction of $1,781,937.56. Following the sale, the chief financial officer now owns 20,403 shares in the company, valued at $6,121,716.12. This represents a 22.55 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Marion K. Gross sold 1,498 shares of the company’s stock in a transaction that occurred 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 directly owns 1,560 shares of the company’s stock, valued at $446,721.60. This trade represents a 48.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,498 shares of company stock worth $10,381,296. 0.23% of the stock is currently owned by corporate insiders.

McDonald’s Stock Down 0.9 %

Shares of MCD opened at $288.32 on Friday. McDonald’s Co. has a 52-week low of $243.53 and a 52-week high of $317.90. The firm has a market cap of $206.61 billion, a price-to-earnings ratio of 25.31, a PEG ratio of 3.87 and a beta of 0.74. The business’s 50 day moving average is $299.98 and its two-hundred day moving average is $277.91.

McDonald’s (NYSE:MCD) last announced its quarterly earnings data 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 company had revenue of $6.87 billion during the quarter, compared to analyst estimates 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 revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period last year, the business earned $3.19 EPS. On average, equities analysts expect that McDonald’s Co. will post 11.77 earnings per share 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. Shareholders 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 yield of 2.46%. The ex-dividend date is Monday, December 2nd. This is an increase from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s dividend payout ratio (DPR) is currently 58.65%.

Analysts Set New Price Targets

MCD has been the topic of a number of recent analyst reports. Tigress Financial increased their price target on shares of McDonald’s from $355.00 to $360.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Loop Capital reaffirmed a “buy” rating on shares of McDonald’s in a report on Friday, October 18th. Guggenheim lowered McDonald’s from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $290.00 to $285.00 in a report on Wednesday, October 23rd. Argus raised McDonald’s from a “hold” rating to a “buy” rating in a research note on Tuesday, October 8th. Finally, BMO Capital Markets lifted their price target on shares of McDonald’s from $315.00 to $335.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Thirteen investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $319.46.

McDonald’s Company 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.