Ironwood Investment Counsel LLC Has $3.39 Million Holdings in McDonald’s Co. (NYSE:MCD)

Ironwood Investment Counsel LLC decreased its stake in McDonald’s Co. (NYSE:MCD) by 1.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,124 shares of the fast-food giant’s stock after selling 174 shares during the period. Ironwood Investment Counsel LLC’s holdings in McDonald’s were worth $3,388,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of MCD. Kennebec Savings Bank bought a new position in shares of McDonald’s during the 3rd quarter worth about $1,394,000. Hantz Financial Services Inc. acquired a new stake in McDonald’s during the second quarter worth about $6,612,000. Charles Schwab Investment Management Inc. increased its stake in McDonald’s by 0.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 5,564,359 shares of the fast-food giant’s stock valued at $1,694,403,000 after acquiring an additional 49,106 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in McDonald’s by 58.9% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 138,102 shares of the fast-food giant’s stock valued at $35,194,000 after acquiring an additional 51,210 shares in the last quarter. Finally, U.S. Capital Wealth Advisors LLC lifted its position in shares of McDonald’s by 6.5% in the 3rd quarter. U.S. Capital Wealth Advisors LLC now owns 49,186 shares of the fast-food giant’s stock worth $14,978,000 after acquiring an additional 2,997 shares during the period. Institutional investors own 70.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on MCD. Loop Capital restated a “buy” rating on shares of McDonald’s in a research report on Friday, October 18th. Argus raised shares of McDonald’s from a “hold” rating to a “buy” rating in a report on Tuesday, October 8th. Truist Financial reduced their price objective on shares of McDonald’s from $350.00 to $342.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. Wedbush reiterated an “outperform” rating and set a $295.00 target price on shares of McDonald’s in a research report on Wednesday, October 23rd. Finally, Robert W. Baird lowered shares of McDonald’s from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $320.00 to $290.00 in a research report on Wednesday, October 23rd. Thirteen equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $319.46.

Insider Buying and Selling

In related news, 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 transaction of $441,470.49. Following the completion of the transaction, the executive vice president now owns 1,560 shares in the company, valued at approximately $459,435.60. The trade was a 49.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Joseph M. Erlinger sold 1,099 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $298.57, for a total transaction of $328,128.43. Following the completion of the sale, the insider now owns 11,484 shares in the company, valued at approximately $3,428,777.88. This trade represents a 8.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 35,597 shares of company stock valued at $10,702,754 over the last three months. Company insiders own 0.23% of the company’s stock.

McDonald’s Stock Up 0.3 %

Shares of MCD stock opened at $296.01 on Friday. McDonald’s Co. has a 12 month low of $243.53 and a 12 month high of $317.90. The firm has a market cap of $212.13 billion, a price-to-earnings ratio of 25.99, a PEG ratio of 3.92 and a beta of 0.74. The stock has a 50-day moving average price of $299.96 and a 200 day moving average price of $278.95.

McDonald’s (NYSE:MCD) last issued its quarterly earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 EPS for the quarter, topping the consensus estimate of $3.18 by $0.05. McDonald’s had a net margin of 31.79% and a negative return on equity of 175.42%. The company had revenue of $6.87 billion during the quarter, compared to analysts’ expectations of $6.82 billion. During the same quarter in the previous year, the company earned $3.19 EPS. McDonald’s’s revenue was up 2.7% on a year-over-year basis. Sell-side analysts predict that McDonald’s Co. will post 11.77 earnings per share for the current fiscal year.

McDonald’s Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a $1.77 dividend. This is a positive change from McDonald’s’s previous quarterly dividend of $1.67. This represents a $7.08 annualized dividend and a dividend yield of 2.39%. The ex-dividend date is Monday, December 2nd. McDonald’s’s dividend payout ratio (DPR) is currently 58.65%.

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.