McDonald’s Co. (NYSE:MCD) Stock Position Raised by Cary Street Partners Asset Management LLC

Cary Street Partners Asset Management LLC lifted its holdings in shares of McDonald’s Co. (NYSE:MCD) by 1.6% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,672 shares of the fast-food giant’s stock after buying an additional 41 shares during the period. Cary Street Partners Asset Management LLC’s holdings in McDonald’s were worth $797,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MCD. Aspire Private Capital LLC acquired a new stake in McDonald’s in the first quarter worth approximately $26,562,950,000. Grey Fox Wealth Advisors LLC raised its position in McDonald’s by 102.0% in the first 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 raised its position in McDonald’s by 160.0% in the second quarter. Horizon Bancorp Inc. IN now owns 117 shares of the fast-food giant’s stock worth $35,000 after acquiring an additional 72 shares in the last quarter. Retirement Group LLC bought a new stake in McDonald’s in the fourth quarter worth about $37,000. Finally, Worth Asset Management LLC raised its position in McDonald’s by 277.5% in the second quarter. Worth Asset Management LLC now owns 151 shares of the fast-food giant’s stock worth $45,000 after acquiring an additional 111 shares in the last quarter. Institutional investors and hedge funds own 67.60% of the company’s stock.

McDonald’s Price Performance

Shares of MCD traded down $0.37 on Friday, reaching $275.75. 2,604,865 shares of the stock traded hands, compared to its average volume of 3,182,682. The firm has a market cap of $200.01 billion, a price-to-earnings ratio of 24.27, a P/E/G ratio of 2.64 and a beta of 0.70. McDonald’s Co. has a 12 month low of $245.73 and a 12 month high of $299.35. The stock’s 50-day moving average price is $264.08 and its 200-day moving average price is $280.91.

McDonald’s (NYSE:MCD) last released its quarterly earnings data on Monday, October 30th. The fast-food giant reported $3.19 earnings per share (EPS) 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 for the quarter, compared to analysts’ expectations of $6.56 billion. During the same period in the previous year, the business posted $2.68 earnings per share. McDonald’s’s quarterly revenue was up 14.0% on a year-over-year basis. As a group, equities research analysts forecast that McDonald’s Co. will post 11.73 earnings per share for the current fiscal year.

McDonald’s Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be given a dividend of $1.67 per share. This is a positive change from McDonald’s’s previous quarterly dividend of $1.52. This represents a $6.68 annualized dividend and a dividend yield of 2.42%. The ex-dividend date is Thursday, November 30th. McDonald’s’s payout ratio is 53.52%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Royal Bank of Canada restated an “outperform” rating and issued a $315.00 target price on shares of McDonald’s in a report on Tuesday, October 31st. StockNews.com assumed coverage on shares of McDonald’s in a research report on Thursday, October 5th. They set a “buy” rating on the stock. Morgan Stanley decreased their price objective on McDonald’s from $330.00 to $315.00 and set an “overweight” rating for the company in a research report on Wednesday, October 11th. Wedbush restated an “outperform” rating and set a $310.00 price objective on shares of McDonald’s in a research report on Tuesday, October 31st. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on McDonald’s in a research report on Thursday, October 19th. They set a “buy” rating and a $287.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $316.66.

Insider Activity

In related news, insider Joseph M. Erlinger sold 4,487 shares of McDonald’s stock in a transaction dated 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 transaction, the insider now directly owns 10,786 shares of the company’s stock, valued at approximately $3,041,867.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other McDonald’s news, EVP Heidi B. Capozzi sold 688 shares of the firm’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $282.54, for a total value of $194,387.52. Following the completion of the sale, the executive vice president now owns 20,019 shares in the company, valued at approximately $5,656,168.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Joseph M. Erlinger sold 4,487 shares of the firm’s stock in a transaction dated 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 approximately $3,041,867.72. The disclosure for this sale can be found here. In the last three months, insiders have sold 21,443 shares of company stock worth $5,863,300. Corporate insiders own 0.27% of the company’s stock.

McDonald’s Profile

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.