Garden State Investment Advisory Services LLC Acquires 49 Shares of McDonald’s Co. (NYSE:MCD)

Garden State Investment Advisory Services LLC raised its holdings in McDonald’s Co. (NYSE:MCD) by 3.9% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,293 shares of the fast-food giant’s stock after purchasing an additional 49 shares during the period. Garden State Investment Advisory Services LLC’s holdings in McDonald’s were worth $395,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in MCD. Steigerwald Gordon & Koch Inc. boosted its holdings in shares of McDonald’s by 2.4% during the 3rd quarter. Steigerwald Gordon & Koch Inc. now owns 1,422 shares of the fast-food giant’s stock valued at $433,000 after acquiring an additional 33 shares during the last quarter. Riversedge Advisors LLC lifted its stake in shares of McDonald’s by 2.0% in the 3rd quarter. Riversedge Advisors LLC now owns 1,686 shares of the fast-food giant’s stock worth $513,000 after purchasing an additional 33 shares during the period. Proquility Private Wealth Partners LLC grew its position in McDonald’s by 1.0% during 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 buying an additional 35 shares during the period. Clear Creek Financial Management LLC raised its position in McDonald’s by 2.8% in the third quarter. Clear Creek Financial Management LLC now owns 1,300 shares of the fast-food giant’s stock worth $396,000 after acquiring an additional 35 shares during the period. Finally, GDS Wealth Management increased its stake in shares of McDonald’s by 1.4% in the 3rd quarter. GDS Wealth Management now owns 2,504 shares of the fast-food giant’s stock worth $762,000 after purchasing an additional 35 shares in the last quarter. Institutional investors and hedge funds own 70.29% of the company’s stock.

Wall Street Analysts Forecast Growth

MCD has been the subject of a number of research reports. Robert W. Baird downgraded McDonald’s from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $320.00 to $290.00 in a research report on Wednesday, October 23rd. Jefferies Financial Group increased their price objective on shares of McDonald’s from $310.00 to $330.00 and gave the company a “buy” rating in a research report on Monday, September 9th. Wedbush restated an “outperform” rating and issued a $295.00 target price on shares of McDonald’s in a report on Wednesday, October 23rd. Citigroup increased their price target on shares of McDonald’s from $301.00 to $317.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Finally, Bank of America boosted their price objective on McDonald’s from $321.00 to $324.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Twelve research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat, McDonald’s presently has an average rating of “Moderate Buy” and a consensus price target of $320.50.

McDonald’s Trading Down 0.0 %

Shares of MCD stock opened at $296.60 on Friday. The business’s fifty day simple moving average is $298.89 and its 200-day simple moving average is $281.09. McDonald’s Co. has a 12-month low of $243.53 and a 12-month high of $317.90. The company has a market cap of $212.55 billion, a PE ratio of 26.04, a PEG ratio of 3.94 and a beta of 0.73.

McDonald’s (NYSE:MCD) last issued its quarterly earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share 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 negative return on equity of 175.42% and a net margin of 31.79%. The company’s revenue was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.19 earnings per share. On average, equities analysts forecast that McDonald’s Co. will post 11.75 earnings per share 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 paid a dividend of $1.77 per share. This represents a $7.08 annualized dividend and a yield of 2.39%. This is a boost from McDonald’s’s previous quarterly dividend of $1.67. The ex-dividend date is Monday, December 2nd. McDonald’s’s payout ratio is presently 62.16%.

Insider Transactions at McDonald’s

In related news, CFO Ian Frederick Borden sold 5,939 shares of the firm’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $300.04, for a total transaction of $1,781,937.56. Following the sale, the chief financial officer now owns 20,403 shares in the company, valued at approximately $6,121,716.12. This trade represents a 22.55 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Christopher J. Kempczinski sold 11,727 shares of the company’s stock in a transaction dated Monday, September 23rd. The stock was 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 owns 49,885 shares of the company’s stock, valued at approximately $14,966,996.55. This trade represents a 19.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 34,099 shares of company stock worth $10,273,786 over the last 90 days. 0.23% of the stock is currently owned by company insiders.

McDonald’s 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.