Legacy Capital Group California Inc. Purchases Shares of 1,523 McDonald’s Co. (NYSE:MCD)

Legacy Capital Group California Inc. purchased a new stake in McDonald’s Co. (NYSE:MCDFree Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 1,523 shares of the fast-food giant’s stock, valued at approximately $454,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Grey Fox Wealth Advisors LLC lifted its stake in shares of McDonald’s by 102.0% in the 1st quarter. Grey Fox Wealth Advisors LLC now owns 101 shares of the fast-food giant’s stock valued at $28,000 after purchasing an additional 51 shares in the last quarter. Horizon Bancorp Inc. IN lifted its stake in shares of McDonald’s by 160.0% in the 2nd quarter. Horizon Bancorp Inc. IN now owns 117 shares of the fast-food giant’s stock valued at $35,000 after purchasing an additional 72 shares in the last quarter. Retirement Group LLC acquired a new position in shares of McDonald’s in the 4th quarter valued at about $37,000. Worth Asset Management LLC lifted its stake in shares of McDonald’s by 277.5% in the 2nd quarter. Worth Asset Management LLC now owns 151 shares of the fast-food giant’s stock valued at $45,000 after purchasing an additional 111 shares in the last quarter. Finally, Compass Wealth Management LLC acquired a new position in shares of McDonald’s in the 4th quarter valued at about $45,000. Hedge funds and other institutional investors own 67.60% of the company’s stock.

McDonald’s Stock Performance

Shares of NYSE MCD traded down $0.37 during trading on Friday, reaching $275.75. The stock had a trading volume of 2,604,865 shares, compared to its average volume of 3,182,682. McDonald’s Co. has a one year low of $245.73 and a one year high of $299.35. The stock has a market cap of $200.01 billion, a PE ratio of 24.27, a P/E/G ratio of 2.64 and a beta of 0.70. The firm’s 50 day moving average price is $264.08 and its two-hundred day moving average price is $280.91.

McDonald’s (NYSE:MCDGet Free Report) last issued 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. McDonald’s had a negative return on equity of 157.19% and a net margin of 33.31%. The business had revenue of $6.69 billion during the quarter, compared to the consensus estimate of $6.56 billion. During the same period in the previous year, the business earned $2.68 EPS. The business’s quarterly revenue was up 14.0% on a year-over-year basis. On average, research analysts expect that McDonald’s Co. will post 11.73 earnings per share for the current year.

McDonald’s Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be paid a dividend of $1.67 per share. This is an increase from McDonald’s’s previous quarterly dividend of $1.52. This represents a $6.68 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date of this dividend is Thursday, November 30th. McDonald’s’s dividend payout ratio is presently 53.52%.

Insider Buying and Selling

In related news, CEO Christopher J. Kempczinski sold 5,606 shares of the company’s stock in a transaction on Monday, September 18th. The stock was sold at an average price of $280.00, for a total transaction of $1,569,680.00. Following the completion of the transaction, the chief executive officer now directly owns 29,031 shares in the company, valued at approximately $8,128,680. The sale was disclosed in a document filed with the SEC, which is available through this link. In other McDonald’s news, CMO Edith Morgan Flatley sold 1,000 shares of the business’s stock in a transaction on Friday, August 25th. The stock was sold at an average price of $285.00, for a total transaction of $285,000.00. Following the completion of the transaction, the chief marketing officer now owns 929 shares in the company, valued at approximately $264,765. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Christopher J. Kempczinski sold 5,606 shares of the business’s stock in a transaction on Monday, September 18th. The stock was sold at an average price of $280.00, for a total value of $1,569,680.00. Following the transaction, the chief executive officer now owns 29,031 shares of the company’s stock, valued at approximately $8,128,680. The disclosure for this sale can be found here. Insiders sold a total of 21,443 shares of company stock worth $5,863,300 in the last three months. 0.27% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Guggenheim reduced their price objective on McDonald’s from $330.00 to $285.00 and set a “buy” rating on the stock in a research note on Thursday, October 19th. BTIG Research reduced their price target on McDonald’s from $315.00 to $300.00 in a research report on Monday, October 2nd. Tigress Financial boosted their price target on McDonald’s from $330.00 to $355.00 and gave the stock a “buy” rating in a research report on Wednesday, September 13th. Wells Fargo & Company raised McDonald’s from an “equal weight” rating to an “overweight” rating and set a $310.00 price target on the stock in a research report on Thursday, September 7th. Finally, StockNews.com started coverage on McDonald’s in a research report on Thursday, October 5th. They set a “buy” rating on the stock. Four research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. According to data from MarketBeat.com, McDonald’s presently has a consensus rating of “Moderate Buy” and an average price target of $316.66.

View Our Latest Stock Report on MCD

McDonald’s Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for McDonald's (NYSE:MCD)

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