665 Shares in McDonald’s Co. (NYSE:MCD) Purchased by Koa Wealth Management LLC

Koa Wealth Management LLC acquired a new stake in shares of McDonald’s Co. (NYSE:MCD) in the third quarter, Holdings Channel reports. The fund acquired 665 shares of the fast-food giant’s stock, valued at approximately $202,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MCD. Kings Path Partners LLC acquired a new position in shares of McDonald’s during the second quarter valued at $38,000. Hara Capital LLC bought a new stake in shares of McDonald’s during the third quarter valued at approximately $44,000. Opal Wealth Advisors LLC acquired a new position in shares of McDonald’s during the second quarter worth approximately $59,000. Bbjs Financial Advisors LLC bought a new position in McDonald’s in the 2nd quarter worth approximately $65,000. Finally, Macroview Investment Management LLC increased its position in McDonald’s by 433.3% in the 2nd quarter. Macroview Investment Management LLC now owns 256 shares of the fast-food giant’s stock valued at $65,000 after acquiring an additional 208 shares during the period. Institutional investors and hedge funds own 70.29% of the company’s stock.

McDonald’s Trading Down 2.0 %

Shares of NYSE:MCD opened at $292.52 on Friday. The business has a fifty day simple moving average of $300.06 and a 200 day simple moving average of $277.42. McDonald’s Co. has a 1 year low of $243.53 and a 1 year high of $317.90. The firm has a market cap of $209.63 billion, a price-to-earnings ratio of 25.68, a P/E/G ratio of 3.95 and a beta of 0.74.

McDonald’s (NYSE:MCD) last released its quarterly earnings data on Tuesday, October 29th. The fast-food giant reported $3.23 EPS for the quarter, topping analysts’ consensus estimates of $3.18 by $0.05. The firm had revenue of $6.87 billion for the quarter, compared to the consensus estimate of $6.82 billion. McDonald’s had a negative return on equity of 175.42% and a net margin of 31.79%. The firm’s revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.19 earnings per share. On average, sell-side analysts forecast 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. Investors of record on Monday, December 2nd will be issued a $1.77 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This is a boost from McDonald’s’s previous quarterly dividend of $1.67. This represents a $7.08 dividend on an annualized basis and a yield of 2.42%. McDonald’s’s dividend payout ratio is currently 58.65%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Jefferies Financial Group increased their price target on McDonald’s from $310.00 to $330.00 and gave the stock a “buy” rating in a research note on Monday, September 9th. Baird R W downgraded shares of McDonald’s from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. Wells Fargo & Company upped their price target on shares of McDonald’s from $285.00 to $350.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. Robert W. Baird lowered shares of McDonald’s from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $320.00 to $290.00 in a research note on Wednesday, October 23rd. Finally, KeyCorp upped their target price on McDonald’s from $305.00 to $330.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Thirteen research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $319.46.

Insider Buying and Selling at McDonald’s

In other McDonald’s news, CMO Edith Morgan Flatley sold 2,346 shares of the stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $310.00, for a total transaction of $727,260.00. Following the transaction, the chief marketing officer now owns 2,905 shares in the company, valued at $900,550. This trade represents a 44.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Christopher J. Kempczinski sold 11,727 shares of the business’s stock in a transaction on 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 sale, the chief executive officer now owns 49,885 shares of the company’s stock, valued at $14,966,996.55. The trade was a 19.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 35,596 shares of company stock worth $10,698,289 over the last three months. Corporate insiders own 0.23% of the company’s stock.

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.