Platform Technology Partners Has $2.62 Million Stock Holdings in McDonald’s Co. (NYSE:MCD)

Platform Technology Partners boosted its position in McDonald’s Co. (NYSE:MCD) by 0.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,611 shares of the fast-food giant’s stock after acquiring an additional 47 shares during the period. Platform Technology Partners’ holdings in McDonald’s were worth $2,622,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MCD. Kings Path Partners LLC acquired a new position in shares of McDonald’s in the 2nd quarter valued at $38,000. Hara Capital LLC bought a new position in McDonald’s during the third quarter worth about $44,000. Opal Wealth Advisors LLC acquired a new position in shares of McDonald’s during the 2nd quarter worth about $59,000. Bbjs Financial Advisors LLC acquired a new stake in shares of McDonald’s in the 2nd quarter valued at approximately $65,000. Finally, Macroview Investment Management LLC boosted its stake in McDonald’s by 433.3% during 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 during the last quarter. 70.29% of the stock is currently owned by institutional investors and hedge funds.

McDonald’s Price Performance

Shares of MCD stock opened at $301.53 on Tuesday. The company has a fifty day moving average price of $299.34 and a two-hundred day moving average price of $276.82. McDonald’s Co. has a one year low of $243.53 and a one year high of $317.90. The stock has a market cap of $216.30 billion, a P/E ratio of 26.47, a P/E/G ratio of 3.98 and a beta of 0.74.

McDonald’s (NYSE:MCD) last issued its earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.18 by $0.05. The business had revenue of $6.87 billion during 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%. McDonald’s’s revenue was up 2.7% on a year-over-year basis. During the same period last year, the business posted $3.19 EPS. As a group, equities research analysts anticipate that McDonald’s Co. will post 11.77 EPS for the current fiscal year.

McDonald’s Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a dividend of $1.77 per share. The ex-dividend date is Monday, December 2nd. This is a positive change from McDonald’s’s previous quarterly dividend of $1.67. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.35%. McDonald’s’s payout ratio is presently 58.65%.

Wall Street Analysts Forecast Growth

MCD has been the subject of several recent analyst reports. Argus raised shares of McDonald’s from a “hold” rating to a “buy” rating in a research note on Tuesday, October 8th. Stifel Nicolaus lowered their price objective on shares of McDonald’s from $285.00 to $265.00 and set a “hold” rating for the company in a research report on Monday, July 22nd. Tigress Financial lifted their target price on McDonald’s from $355.00 to $360.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Baird R W downgraded McDonald’s from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Finally, Barclays lifted their price objective on McDonald’s from $300.00 to $325.00 and gave the company an “overweight” rating in a report on Tuesday, October 22nd. Thirteen analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat.com, McDonald’s has an average rating of “Moderate Buy” and a consensus price target of $319.46.

Insider Activity at McDonald’s

In other news, EVP Marion K. Gross sold 1,498 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president now owns 1,560 shares in the company, valued at approximately $446,721.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, insider Joseph M. Erlinger sold 1,098 shares of McDonald’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $288.70, for a total transaction of $316,992.60. Following the completion of the sale, the insider now owns 12,583 shares of the company’s stock, valued at approximately $3,632,712.10. This trade represents a 0.00 % 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, EVP Marion K. Gross sold 1,498 shares of the company’s stock in a transaction dated 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. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 35,596 shares of company stock worth $10,698,289. Company insiders own 0.23% of the company’s stock.

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.