McIlrath & Eck LLC Boosts Stock Holdings in McDonald’s Co. (NYSE:MCD)

McIlrath & Eck LLC lifted its position in shares of McDonald’s Co. (NYSE:MCD) by 11.6% during the third quarter, Holdings Channel reports. The firm owned 1,537 shares of the fast-food giant’s stock after acquiring an additional 160 shares during the period. McIlrath & Eck LLC’s holdings in McDonald’s were worth $468,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Hohimer Wealth Management LLC lifted its position in shares of McDonald’s by 1.0% during the 3rd quarter. Hohimer Wealth Management LLC now owns 9,266 shares of the fast-food giant’s stock worth $2,822,000 after buying an additional 95 shares in the last quarter. Soltis Investment Advisors LLC increased its position in shares of McDonald’s by 6.9% during the third quarter. Soltis Investment Advisors LLC now owns 2,869 shares of the fast-food giant’s stock valued at $874,000 after acquiring an additional 184 shares during the last quarter. Neo Ivy Capital Management bought a new stake in McDonald’s during the third quarter worth $408,000. Coldstream Capital Management Inc. boosted its holdings in shares of McDonald’s by 6.7% in the 3rd quarter. Coldstream Capital Management Inc. now owns 30,295 shares of the fast-food giant’s stock worth $9,220,000 after buying an additional 1,898 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in McDonald’s by 1.4% in the third quarter. Geode Capital Management LLC now owns 15,916,980 shares of the fast-food giant’s stock valued at $4,833,510,000 after acquiring an additional 220,365 shares during the last quarter. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on MCD. Guggenheim lowered McDonald’s from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $290.00 to $285.00 in a report on Wednesday, October 23rd. TD Cowen reaffirmed a “hold” rating and set a $300.00 price objective on shares of McDonald’s in a research note on Tuesday, October 29th. Citigroup boosted their price target on shares of McDonald’s from $301.00 to $317.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. Wells Fargo & Company increased their price objective on McDonald’s from $285.00 to $350.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. 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 investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $319.64.

Insider Transactions at McDonald’s

In other news, CEO Christopher J. Kempczinski sold 11,727 shares of McDonald’s stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 49,885 shares in the company, valued at approximately $14,966,996.55. This trade represents a 19.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Joseph M. Erlinger sold 1,099 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $298.57, for a total value of $328,128.43. Following the completion of the transaction, the insider now directly owns 11,484 shares in the company, valued at $3,428,777.88. This trade represents a 8.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,099 shares of company stock worth $10,273,786. 0.23% of the stock is currently owned by insiders.

McDonald’s Stock Performance

NYSE:MCD opened at $300.76 on Wednesday. McDonald’s Co. has a fifty-two week low of $243.53 and a fifty-two week high of $317.90. The business has a 50 day moving average price of $299.37 and a 200-day moving average price of $280.30. The firm has a market cap of $215.53 billion, a PE ratio of 26.41, a price-to-earnings-growth ratio of 4.01 and a beta of 0.73.

McDonald’s (NYSE:MCD) last announced its quarterly earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.18 by $0.05. The business had revenue of $6.87 billion for the quarter, compared to analyst estimates of $6.82 billion. McDonald’s had a net margin of 31.79% and a negative return on equity of 175.42%. The company’s revenue was up 2.7% on a year-over-year basis. During the same quarter last year, the firm earned $3.19 EPS. Research analysts predict that McDonald’s Co. will post 11.77 EPS for the current year.

McDonald’s Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a $1.77 dividend. The ex-dividend date is Monday, December 2nd. This represents a $7.08 annualized dividend and a yield of 2.35%. This is a boost from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s dividend payout ratio (DPR) is 62.16%.

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.