Maiden Cove Capital LLC Makes New $426,000 Investment in McDonald’s Co. (NYSE:MCD)

Maiden Cove Capital LLC acquired a new position in shares of McDonald’s Co. (NYSE:MCD) during the 3rd quarter, Holdings Channel.com reports. The firm acquired 1,398 shares of the fast-food giant’s stock, valued at approximately $426,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Hara Capital LLC bought a new stake in shares of McDonald’s in the 3rd quarter valued at about $44,000. Kings Path Partners LLC purchased a new stake in McDonald’s during the second quarter worth $38,000. Opal Wealth Advisors LLC bought a new stake in McDonald’s during the 2nd quarter valued at $59,000. Bbjs Financial Advisors LLC purchased a new position in shares of McDonald’s in the 2nd quarter valued at $65,000. Finally, Macroview Investment Management LLC raised its position in shares of McDonald’s by 433.3% in the 2nd quarter. Macroview Investment Management LLC now owns 256 shares of the fast-food giant’s stock worth $65,000 after acquiring an additional 208 shares in the last quarter. 70.29% of the stock is currently owned by institutional investors.

Insider Activity

In related news, EVP Marion K. Gross sold 1,499 shares of the company’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $294.51, for a total value of $441,470.49. Following the completion of the transaction, the executive vice president now owns 1,560 shares of the company’s stock, valued at approximately $459,435.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, insider Joseph M. Erlinger sold 1,099 shares of the business’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $292.38, for a total transaction of $321,325.62. Following the completion of the sale, the insider now owns 10,385 shares of the company’s stock, valued at $3,036,366.30. The trade was a 0.00 % decrease in their ownership of the stock. 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 1,499 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $294.51, for a total transaction of $441,470.49. Following the completion of the transaction, the executive vice president now directly owns 1,560 shares in the company, valued at $459,435.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 35,596 shares of company stock worth $10,698,289 in the last ninety days. Company insiders own 0.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on MCD. Morgan Stanley lifted their target price on McDonald’s from $296.00 to $340.00 and gave the company an “overweight” rating in a research note on Tuesday, October 15th. Argus raised shares of McDonald’s from a “hold” rating to a “buy” rating in a research report on Tuesday, October 8th. Robert W. Baird cut shares of McDonald’s from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $320.00 to $290.00 in a research report on Wednesday, October 23rd. Baird R W lowered shares of McDonald’s from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Finally, Guggenheim downgraded McDonald’s from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $290.00 to $285.00 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 stock. According to MarketBeat.com, McDonald’s has an average rating of “Moderate Buy” and a consensus price target of $319.46.

McDonald’s Stock Performance

McDonald’s stock traded up $4.31 during midday trading on Friday, hitting $298.97. 3,279,284 shares of the company were exchanged, compared to its average volume of 4,858,855. McDonald’s Co. has a fifty-two week low of $243.53 and a fifty-two week high of $317.90. The firm has a market capitalization of $214.46 billion, a PE ratio of 26.25, a price-to-earnings-growth ratio of 3.91 and a beta of 0.74. The business has a fifty day simple moving average of $299.08 and a two-hundred day simple moving average of $276.64.

McDonald’s (NYSE:MCD) last posted its earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share for the quarter, beating the consensus estimate of $3.18 by $0.05. McDonald’s had a net margin of 31.79% and a negative return on equity of 178.99%. The firm had revenue of $6.87 billion during the quarter, compared to analyst estimates of $6.82 billion. During the same period in the previous year, the firm earned $3.19 EPS. The business’s quarterly revenue was up 2.7% on a year-over-year basis. As a group, equities analysts expect that McDonald’s Co. will post 11.77 earnings per share for the current year.

McDonald’s Increases Dividend

The company 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. This is a positive change from McDonald’s’s previous quarterly dividend of $1.67. This represents a $7.08 annualized dividend and a dividend yield of 2.37%. The ex-dividend date of this dividend is Monday, December 2nd. McDonald’s’s dividend 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.