Precedent Wealth Partners LLC Grows Position in McDonald’s Co. (NYSE:MCD)

Precedent Wealth Partners LLC raised its holdings in McDonald’s Co. (NYSE:MCD) by 8.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,716 shares of the fast-food giant’s stock after acquiring an additional 438 shares during the quarter. Precedent Wealth Partners LLC’s holdings in McDonald’s were worth $1,740,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in MCD. Perpetual Ltd purchased a new stake in shares of McDonald’s during the 1st quarter worth approximately $237,000. Douglas Lane & Associates LLC boosted its position in McDonald’s by 12.0% during the first quarter. Douglas Lane & Associates LLC now owns 2,196 shares of the fast-food giant’s stock worth $619,000 after purchasing an additional 236 shares in the last quarter. International Assets Investment Management LLC grew its holdings in McDonald’s by 12.5% in the first quarter. International Assets Investment Management LLC now owns 8,249 shares of the fast-food giant’s stock valued at $2,311,000 after purchasing an additional 916 shares during the last quarter. Salem Investment Counselors Inc. grew its holdings in McDonald’s by 1.0% in the first quarter. Salem Investment Counselors Inc. now owns 52,164 shares of the fast-food giant’s stock valued at $14,708,000 after purchasing an additional 497 shares during the last quarter. Finally, Orser Capital Management LLC increased its position in shares of McDonald’s by 4.6% in the first quarter. Orser Capital Management LLC now owns 4,102 shares of the fast-food giant’s stock valued at $1,157,000 after buying an additional 179 shares in the last quarter. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

McDonald’s Stock Performance

MCD stock opened at $316.53 on Friday. The firm has a market cap of $228.12 billion, a P/E ratio of 26.87, a price-to-earnings-growth ratio of 4.05 and a beta of 0.73. McDonald’s Co. has a 1 year low of $243.53 and a 1 year high of $317.18. The stock has a 50-day simple moving average of $294.62 and a 200-day simple moving average of $273.73.

McDonald’s (NYSE:MCD) last posted its earnings results 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). The firm had revenue of $6.49 billion for the quarter, compared to analyst estimates of $6.62 billion. McDonald’s had a negative return on equity of 178.68% and a net margin of 32.25%. The company’s revenue for the quarter was down .1% on a year-over-year basis. During the same period in the previous year, the firm posted $3.17 earnings per share. On average, equities research analysts predict that McDonald’s Co. will post 11.71 EPS for the current year.

McDonald’s Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a dividend of $1.77 per share. The ex-dividend date is Monday, December 2nd. This is an increase from McDonald’s’s previous quarterly dividend of $1.67. This represents a $7.08 annualized dividend and a dividend yield of 2.24%. McDonald’s’s dividend payout ratio (DPR) is currently 60.10%.

Insider Transactions at McDonald’s

In related news, insider Joseph M. Erlinger sold 1,099 shares of the stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $260.00, for a total value of $285,740.00. Following the completion of the transaction, the insider now owns 13,681 shares of the company’s stock, valued at approximately $3,557,060. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, insider Joseph M. Erlinger sold 1,099 shares of the company’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $260.00, for a total value of $285,740.00. Following the sale, the insider now directly owns 13,681 shares of the company’s stock, valued at $3,557,060. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Marion K. Gross sold 1,498 shares of the stock in a transaction 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 transaction, the executive vice president now owns 1,560 shares in the company, valued at $446,721.60. This trade represents 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 have sold 34,097 shares of company stock valued at $10,221,233. 0.23% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

MCD has been the topic of a number of research reports. Evercore ISI increased their price objective on shares of McDonald’s from $320.00 to $340.00 and gave the company an “outperform” rating in a research note on Tuesday. KeyCorp raised their price objective on shares of McDonald’s from $305.00 to $330.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Stifel Nicolaus cut their price objective on McDonald’s from $285.00 to $265.00 and set a “hold” rating for the company in a research report on Monday, July 22nd. Barclays lowered their target price on McDonald’s from $320.00 to $300.00 and set an “overweight” rating on the stock in a report on Tuesday, July 30th. Finally, Citigroup upped their target price 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. Ten analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $315.69.

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.