Elgethun Capital Management Has $1.11 Million Holdings in McDonald’s Co. (NYSE:MCD)

Elgethun Capital Management increased its holdings in shares of McDonald’s Co. (NYSE:MCD) by 3.6% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 3,722 shares of the fast-food giant’s stock after acquiring an additional 129 shares during the quarter. Elgethun Capital Management’s holdings in McDonald’s were worth $1,111,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in MCD. Grey Fox Wealth Advisors LLC raised 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 during the period. Horizon Bancorp Inc. IN raised 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 during the period. Retirement Group LLC acquired a new stake in shares of McDonald’s in the 4th quarter valued at about $37,000. Worth Asset Management LLC raised 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 during the period. Finally, Compass Wealth Management LLC acquired a new stake in shares of McDonald’s in the fourth quarter valued at about $45,000. Institutional investors and hedge funds own 67.60% of the company’s stock.

Insiders Place Their Bets

In other McDonald’s news, insider Joseph M. Erlinger sold 4,487 shares of the company’s stock in a transaction on Monday, October 23rd. The stock was sold at an average price of $256.61, for a total transaction of $1,151,409.07. Following the completion of the sale, the insider now directly owns 9,534 shares in the company, valued at $2,446,519.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Christopher J. Kempczinski sold 5,606 shares of the 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 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Joseph M. Erlinger sold 4,487 shares of the stock in a transaction on Monday, October 23rd. The shares were sold at an average price of $256.61, for a total value of $1,151,409.07. Following the completion of the transaction, the insider now owns 9,534 shares of the company’s stock, valued at $2,446,519.74. The disclosure for this sale can be found here. Insiders sold 21,443 shares of company stock worth $5,863,300 over the last three months. Insiders own 0.27% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on MCD. Citigroup lowered their target price on McDonald’s from $317.00 to $283.00 and set a “neutral” rating on the stock in a research report on Monday, October 2nd. Loop Capital lifted their target price on McDonald’s from $346.00 to $383.00 in a research report on Friday, July 28th. JPMorgan Chase & Co. lifted their target price on McDonald’s from $270.00 to $278.00 and gave the company an “overweight” rating in a research report on Tuesday, October 31st. Morgan Stanley lowered their target price on McDonald’s from $330.00 to $315.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 11th. Finally, DZ Bank upgraded McDonald’s from a “hold” rating to a “buy” rating and set a $300.00 price target for the company in a report on Tuesday, October 31st. Four analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $316.66.

McDonald’s Price Performance

NYSE:MCD traded up $0.19 during trading hours on Tuesday, reaching $279.22. 641,060 shares of the company were exchanged, compared to its average volume of 2,659,779. The company has a market capitalization of $202.53 billion, a P/E ratio of 24.56, a P/E/G ratio of 2.64 and a beta of 0.70. McDonald’s Co. has a 1-year low of $245.73 and a 1-year high of $299.35. The business has a 50 day moving average of $264.07 and a 200 day moving average of $280.57.

McDonald’s (NYSE:MCD) last issued its quarterly earnings results on Monday, October 30th. The fast-food giant reported $3.19 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $6.56 billion. During the same quarter in the prior year, the business posted $2.68 earnings per share. The firm’s quarterly revenue was up 14.0% compared to the same quarter last year. As a group, equities research analysts anticipate 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. Shareholders of record on Friday, December 1st will be paid a dividend of $1.67 per share. The ex-dividend date of this dividend is Thursday, November 30th. This is a boost from McDonald’s’s previous quarterly dividend of $1.52. This represents a $6.68 annualized dividend and a yield of 2.39%. McDonald’s’s dividend payout ratio is presently 58.80%.

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.