Reston Wealth Management LLC Makes New Investment in McDonald’s Co. (NYSE:MCD)

Reston Wealth Management LLC purchased a new position in shares of McDonald’s Co. (NYSE:MCD) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 636 shares of the fast-food giant’s stock, valued at approximately $194,000.

A number of other hedge funds have also recently modified their holdings of the business. Legal & General Group Plc increased its position in McDonald’s by 3.2% in the second quarter. Legal & General Group Plc now owns 6,149,080 shares of the fast-food giant’s stock worth $1,567,030,000 after buying an additional 188,888 shares in the last quarter. Capital Research Global Investors raised its stake in McDonald’s by 66.9% during the 1st quarter. Capital Research Global Investors now owns 5,471,007 shares of the fast-food giant’s stock worth $1,542,550,000 after acquiring an additional 2,193,769 shares during the period. Ameriprise Financial Inc. lifted its holdings in McDonald’s by 8.0% during the second quarter. Ameriprise Financial Inc. now owns 4,761,625 shares of the fast-food giant’s stock valued at $1,216,677,000 after purchasing an additional 354,196 shares in the last quarter. Capital World Investors lifted its holdings in McDonald’s by 39.7% during the first quarter. Capital World Investors now owns 3,565,398 shares of the fast-food giant’s stock valued at $1,005,264,000 after purchasing an additional 1,012,534 shares in the last quarter. Finally, International Assets Investment Management LLC increased its stake in shares of McDonald’s by 31,151.1% in the third quarter. International Assets Investment Management LLC now owns 2,319,142 shares of the fast-food giant’s stock worth $706,202,000 after purchasing an additional 2,311,721 shares in the last quarter. Institutional investors own 70.29% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Marion K. Gross sold 1,498 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $286.36, for a total transaction of $428,967.28. Following the completion of the transaction, the executive vice president now owns 1,560 shares in the company, valued at $446,721.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other McDonald’s news, CMO Edith Morgan Flatley sold 2,346 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $310.00, for a total transaction of $727,260.00. Following the sale, the chief marketing officer now owns 2,905 shares of the company’s stock, valued at approximately $900,550. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Marion K. Gross sold 1,498 shares of McDonald’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $286.36, for a total transaction of $428,967.28. Following the sale, the executive vice president now owns 1,560 shares of the company’s stock, valued at $446,721.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,097 shares of company stock worth $10,256,818. 0.23% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on MCD shares. UBS Group upped their target price on shares of McDonald’s from $305.00 to $345.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. TD Cowen reaffirmed a “hold” rating and issued a $300.00 price objective on shares of McDonald’s in a research note on Tuesday. Truist Financial lowered their price target on McDonald’s from $350.00 to $342.00 and set a “buy” rating on the stock in a report on Wednesday. Morgan Stanley increased their price objective on shares of McDonald’s from $296.00 to $340.00 and gave the company an “overweight” rating in a report on Tuesday, October 15th. Finally, Wedbush restated an “outperform” rating and set a $295.00 target price on shares of McDonald’s in a research report on Wednesday, October 23rd. Thirteen analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $319.46.

McDonald’s Price Performance

Shares of NYSE:MCD opened at $292.17 on Friday. The business has a 50 day simple moving average of $298.25 and a two-hundred day simple moving average of $275.58. McDonald’s Co. has a 1 year low of $243.53 and a 1 year high of $317.90. The firm has a market capitalization of $209.59 billion, a PE ratio of 25.65, a price-to-earnings-growth ratio of 3.85 and a beta of 0.73.

McDonald’s (NYSE:MCD) last posted its quarterly earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 EPS for the quarter, topping the consensus estimate of $3.18 by $0.05. The company had revenue of $6.87 billion for the quarter, compared to the consensus estimate of $6.82 billion. McDonald’s had a net margin of 31.79% and a negative return on equity of 178.99%. The firm’s revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the firm posted $3.19 EPS. Equities research analysts expect that McDonald’s Co. will post 11.78 EPS for the current fiscal year.

McDonald’s Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a $1.77 dividend. This represents a $7.08 annualized dividend and a dividend yield of 2.42%. This is a positive change from McDonald’s’s previous quarterly dividend of $1.67. The ex-dividend date of this dividend is Monday, December 2nd. McDonald’s’s payout ratio is presently 58.65%.

About McDonald’s

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.