McDonald’s Co. (NYSE:MCD) Shares Acquired by Lord Abbett & CO. LLC

Lord Abbett & CO. LLC lifted its position in McDonald’s Co. (NYSE:MCD) by 0.5% in the third quarter, Holdings Channel reports. The firm owned 280,204 shares of the fast-food giant’s stock after acquiring an additional 1,263 shares during the period. Lord Abbett & CO. LLC’s holdings in McDonald’s were worth $85,325,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in MCD. Steigerwald Gordon & Koch Inc. boosted its stake in shares of McDonald’s by 2.4% during 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 period. Riversedge Advisors LLC lifted its position in McDonald’s by 2.0% during the 3rd quarter. Riversedge Advisors LLC now owns 1,686 shares of the fast-food giant’s stock worth $513,000 after acquiring an additional 33 shares during the period. Proquility Private Wealth Partners LLC grew its stake in shares of McDonald’s by 1.0% in the 3rd quarter. Proquility Private Wealth Partners LLC now owns 3,472 shares of the fast-food giant’s stock valued at $1,057,000 after purchasing an additional 35 shares during the last quarter. Clear Creek Financial Management LLC increased its holdings in shares of 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 valued at $396,000 after purchasing an additional 35 shares during the period. Finally, GDS Wealth Management increased its holdings in shares of McDonald’s by 1.4% in the third quarter. GDS Wealth Management now owns 2,504 shares of the fast-food giant’s stock valued at $762,000 after purchasing an additional 35 shares during the period. Hedge funds and other institutional investors own 70.29% of the company’s stock.

McDonald’s Stock Performance

NYSE MCD opened at $296.60 on Friday. The firm has a market capitalization of $212.55 billion, a price-to-earnings ratio of 26.04, a PEG ratio of 3.94 and a beta of 0.73. McDonald’s Co. has a one year low of $243.53 and a one year high of $317.90. The company’s 50 day moving average price is $298.89 and its 200 day moving average price is $281.09.

McDonald’s (NYSE:MCD) last issued its earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $6.87 billion for the quarter, compared to the consensus estimate of $6.82 billion. During the same quarter last year, the firm posted $3.19 EPS. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. Sell-side analysts forecast that McDonald’s Co. will post 11.75 EPS for the current fiscal year.

McDonald’s Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a $1.77 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.39%. This is a positive change from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s dividend payout ratio (DPR) is 62.16%.

Insider Buying and Selling

In other McDonald’s news, EVP Marion K. Gross sold 1,499 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 1,560 shares of the company’s stock, valued at $459,435.60. This represents a 49.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Joseph M. Erlinger sold 1,099 shares of McDonald’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $292.50, for a total value of $321,457.50. Following the sale, the insider now directly owns 9,286 shares in the company, valued at approximately $2,716,155. The trade was a 10.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 34,099 shares of company stock valued at $10,273,786. Corporate insiders own 0.23% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on MCD. Citigroup upped their price objective on shares of McDonald’s from $301.00 to $317.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Morgan Stanley raised their price objective on shares of McDonald’s from $296.00 to $340.00 and gave the company an “overweight” rating in a research report on Tuesday, October 15th. BMO Capital Markets lifted their price objective on McDonald’s from $315.00 to $335.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Loop Capital reissued a “buy” rating on shares of McDonald’s in a research note on Friday, October 18th. Finally, Evercore ISI lifted their price target on McDonald’s from $320.00 to $340.00 and gave the company an “outperform” rating in a research note on Tuesday, October 15th. Twelve analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $320.50.

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.