Cannell & Co. Acquires 425 Shares of McDonald’s Co. (NYSE:MCD)

Cannell & Co. grew its holdings in McDonald’s Co. (NYSE:MCD) by 12.8% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,742 shares of the fast-food giant’s stock after acquiring an additional 425 shares during the period. Cannell & Co.’s holdings in McDonald’s were worth $1,117,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Aspire Private Capital LLC bought a new stake in McDonald’s in the first quarter worth $26,562,950,000. Grey Fox Wealth Advisors LLC boosted its stake in shares of McDonald’s by 102.0% during the 1st quarter. Grey Fox Wealth Advisors LLC now owns 101 shares of the fast-food giant’s stock worth $28,000 after acquiring an additional 51 shares in the last quarter. Horizon Bancorp Inc. IN increased its holdings in shares of McDonald’s by 160.0% during the 2nd quarter. Horizon Bancorp Inc. IN now owns 117 shares of the fast-food giant’s stock valued at $35,000 after acquiring an additional 72 shares during the last quarter. Retirement Group LLC bought a new position in shares of McDonald’s in the 4th quarter valued at approximately $37,000. Finally, Worth Asset Management LLC lifted its holdings in McDonald’s by 277.5% in the 2nd quarter. Worth Asset Management LLC now owns 151 shares of the fast-food giant’s stock worth $45,000 after purchasing an additional 111 shares during the last quarter. 67.60% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Loop Capital increased their price target on McDonald’s from $346.00 to $383.00 in a report on Friday, July 28th. KeyCorp dropped their target price on shares of McDonald’s from $330.00 to $310.00 and set an “overweight” rating on the stock in a report on Tuesday, October 17th. TD Cowen restated an “outperform” rating and set a $340.00 price target on shares of McDonald’s in a report on Wednesday, September 20th. Wells Fargo & Company upgraded McDonald’s from an “equal weight” rating to an “overweight” rating and set a $310.00 price objective on the stock in a research note on Thursday, September 7th. Finally, StockNews.com began coverage on McDonald’s in a report on Thursday, October 5th. They set a “buy” rating for the company. Four research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. According to MarketBeat.com, McDonald’s currently has a consensus rating of “Moderate Buy” and a consensus target price of $316.66.

McDonald’s Trading Up 0.9 %

MCD stock opened at $271.50 on Wednesday. McDonald’s Co. has a 1-year low of $245.73 and a 1-year high of $299.35. The business’s 50 day moving average is $264.30 and its 200-day moving average is $281.17. The firm has a market cap of $196.93 billion, a P/E ratio of 23.90, a P/E/G ratio of 2.57 and a beta of 0.70.

McDonald’s (NYSE:MCD) last announced its quarterly earnings results on Monday, October 30th. The fast-food giant reported $3.19 earnings per share for the quarter, beating analysts’ consensus estimates of $3.00 by $0.19. The firm had revenue of $6.69 billion for the quarter, compared to analysts’ expectations of $6.56 billion. McDonald’s had a negative return on equity of 157.19% and a net margin of 33.31%. The business’s revenue was up 14.0% compared to the same quarter last year. During the same period in the prior year, the business posted $2.68 earnings per share. Sell-side analysts forecast that McDonald’s Co. will post 11.73 EPS for the current year.

McDonald’s Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be given a dividend of $1.67 per share. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.46%. This is a boost from McDonald’s’s previous quarterly dividend of $1.52. McDonald’s’s dividend payout ratio (DPR) is 53.52%.

Insider Activity at McDonald’s

In other news, insider Joseph M. Erlinger sold 4,487 shares of the firm’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $282.02, for a total transaction of $1,265,423.74. Following the completion of the sale, the insider now owns 10,786 shares of the company’s stock, valued at $3,041,867.72. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other McDonald’s news, CMO Edith Morgan Flatley sold 1,000 shares of the business’s stock in a transaction dated Friday, August 25th. The shares were sold at an average price of $285.00, for a total value of $285,000.00. Following the completion of the transaction, the chief marketing officer now directly owns 929 shares of the company’s stock, valued at $264,765. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Joseph M. Erlinger sold 4,487 shares of the stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $282.02, for a total transaction of $1,265,423.74. Following the sale, the insider now directly owns 10,786 shares in the company, valued at $3,041,867.72. The disclosure for this sale can be found here. Insiders sold 21,443 shares of company stock valued at $5,863,300 in the last ninety days. Insiders own 0.18% of the company’s stock.

About McDonald’s

McDonald's Corporation operates and franchises McDonald's restaurants in the United States and internationally. The company's restaurants offer hamburgers and cheeseburgers, chicken sandwiches and nuggets, fries, salads, shakes, frozen desserts, sundaes, soft serve cones, bakery items, soft drinks, coffee, and beverages and other beverages, as well as breakfast menu, including muffins, Sausages, biscuit and bagel sandwiches, oatmeal, hash browns, breakfast burritos and hotcakes.