Ironwood Financial llc Purchases 833 Shares of McDonald’s Co. (NYSE:MCD)

Ironwood Financial llc raised its position in shares of McDonald’s Co. (NYSE:MCD) by 20.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,838 shares of the fast-food giant’s stock after purchasing an additional 833 shares during the period. Ironwood Financial llc’s holdings in McDonald’s were worth $1,473,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Steigerwald Gordon & Koch Inc. grew its stake in shares of McDonald’s by 2.4% in the 3rd quarter. Steigerwald Gordon & Koch Inc. now owns 1,422 shares of the fast-food giant’s stock valued at $433,000 after buying an additional 33 shares during the period. Proquility Private Wealth Partners LLC lifted its holdings in McDonald’s by 1.0% in the third quarter. Proquility Private Wealth Partners LLC now owns 3,472 shares of the fast-food giant’s stock valued at $1,057,000 after acquiring an additional 35 shares during the last quarter. Founders Financial Alliance LLC grew its position in McDonald’s by 0.7% in the second quarter. Founders Financial Alliance LLC now owns 4,980 shares of the fast-food giant’s stock worth $1,269,000 after acquiring an additional 36 shares during the period. 9258 Wealth Management LLC increased its stake in McDonald’s by 1.3% during the first quarter. 9258 Wealth Management LLC now owns 2,833 shares of the fast-food giant’s stock worth $799,000 after acquiring an additional 37 shares during the last quarter. Finally, Cohen Investment Advisors LLC raised its position in McDonald’s by 0.4% in the third quarter. Cohen Investment Advisors LLC now owns 10,049 shares of the fast-food giant’s stock valued at $3,060,000 after purchasing an additional 37 shares during the period. Institutional investors own 70.29% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on MCD. Loop Capital reaffirmed a “buy” rating and set a $342.00 target price on shares of McDonald’s in a research note on Tuesday, September 10th. Citigroup increased 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. The Goldman Sachs Group boosted their target price on McDonald’s from $284.00 to $325.00 and gave the company a “neutral” rating in a research report on Tuesday, September 24th. Robert W. Baird lifted their price objective on McDonald’s from $280.00 to $320.00 and gave the company an “outperform” rating in a research note on Thursday, September 26th. Finally, Truist Financial increased their target price on McDonald’s from $295.00 to $350.00 and gave the stock a “buy” rating in a research note on Tuesday. Ten investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $315.69.

McDonald’s Stock Up 0.2 %

Shares of McDonald’s stock traded up $0.67 during trading on Thursday, reaching $313.59. The company’s stock had a trading volume of 115,538 shares, compared to its average volume of 3,346,177. The business has a 50 day moving average price of $292.77 and a 200-day moving average price of $273.19. The company has a market capitalization of $226.00 billion, a P/E ratio of 26.56, a price-to-earnings-growth ratio of 4.05 and a beta of 0.73. McDonald’s Co. has a 12-month low of $243.53 and a 12-month high of $315.36.

McDonald’s (NYSE:MCD) last released its quarterly earnings data on Monday, July 29th. The fast-food giant reported $2.97 EPS for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.10). McDonald’s had a negative return on equity of 178.68% and a net margin of 32.25%. The company had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.62 billion. During the same period in the prior year, the firm posted $3.17 EPS. The firm’s quarterly revenue was down .1% on a year-over-year basis. Research analysts predict that McDonald’s Co. will post 11.71 EPS for the current fiscal year.

McDonald’s Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued 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 2.26%. This is a boost from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s dividend payout ratio is currently 60.10%.

Insider Activity at McDonald’s

In other McDonald’s news, insider Joseph M. Erlinger sold 1,098 shares of McDonald’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $288.70, for a total transaction of $316,992.60. Following the completion of the transaction, the insider now owns 12,583 shares in the company, valued at approximately $3,632,712.10. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Christopher J. Kempczinski sold 11,727 shares of McDonald’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $300.03, for a total transaction of $3,518,451.81. Following the completion of the sale, the chief executive officer now directly owns 49,885 shares in the company, valued at $14,966,996.55. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Joseph M. Erlinger sold 1,098 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $288.70, for a total value of $316,992.60. Following the completion of the transaction, the insider now owns 12,583 shares of the company’s stock, valued at $3,632,712.10. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,097 shares of company stock valued at $10,221,233 in the last ninety days. Corporate insiders own 0.23% of the company’s stock.

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.