Raymond James & Associates Boosts Stock Position in McDonald’s Co. (NYSE:MCD)

Raymond James & Associates boosted its position in McDonald’s Co. (NYSE:MCD) by 1.4% in the third quarter, HoldingsChannel.com reports. The firm owned 1,273,002 shares of the fast-food giant’s stock after acquiring an additional 17,059 shares during the period. Raymond James & Associates’ holdings in McDonald’s were worth $387,642,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Dixon Mitchell Investment Counsel Inc. purchased a new stake in McDonald’s during the first quarter valued at approximately $28,000. Kings Path Partners LLC acquired a new position in shares of McDonald’s during the second quarter worth $38,000. Keener Financial Planning LLC lifted its holdings in shares of McDonald’s by 32.3% during the 1st quarter. Keener Financial Planning LLC now owns 176 shares of the fast-food giant’s stock valued at $50,000 after purchasing an additional 43 shares during the last quarter. Opal Wealth Advisors LLC acquired a new stake in shares of McDonald’s in the 2nd quarter worth $59,000. Finally, Bbjs Financial Advisors LLC acquired a new stake in shares of McDonald’s in the 2nd quarter worth $65,000. 70.29% of the stock is currently owned by institutional investors.

McDonald’s Price Performance

MCD stock traded up $1.86 during mid-day trading on Friday, reaching $316.56. 2,531,197 shares of the company’s stock were exchanged, compared to its average volume of 3,356,786. McDonald’s Co. has a 12-month low of $243.53 and a 12-month high of $317.18. The stock’s 50 day moving average is $294.62 and its 200 day moving average is $273.73. The company has a market cap of $228.14 billion, a price-to-earnings ratio of 26.87, a price-to-earnings-growth ratio of 4.05 and a beta of 0.73.

McDonald’s (NYSE:MCD) last announced its earnings results on Monday, July 29th. The fast-food giant reported $2.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.10). The business had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.62 billion. McDonald’s had a net margin of 32.25% and a negative return on equity of 178.68%. The company’s quarterly revenue was down .1% on a year-over-year basis. During the same quarter last year, the business earned $3.17 EPS. On average, research analysts forecast that McDonald’s Co. will post 11.71 earnings per share for the current fiscal year.

McDonald’s Increases Dividend

The business 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 represents a $7.08 dividend on an annualized basis and a dividend yield of 2.24%. This is a boost from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s payout ratio is currently 60.10%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on MCD shares. Guggenheim increased their price objective on shares of McDonald’s from $280.00 to $290.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. TD Cowen lifted their price objective on shares of McDonald’s from $280.00 to $300.00 and gave the stock a “hold” rating in a research note on Wednesday. Bank of America cut their target price on McDonald’s from $288.00 to $278.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 30th. Wedbush restated an “outperform” rating and issued a $295.00 target price on shares of McDonald’s in a research note on Monday, July 29th. Finally, Truist Financial boosted their price target on McDonald’s from $295.00 to $350.00 and gave the company a “buy” rating in a research note on Tuesday. Ten investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. Based on data from MarketBeat, McDonald’s presently has a consensus rating of “Moderate Buy” and a consensus target price of $315.69.

Insider Buying and Selling

In related news, CMO Edith Morgan Flatley sold 2,346 shares of McDonald’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $310.00, for a total value of $727,260.00. Following the sale, the chief marketing officer now directly owns 2,905 shares in the company, valued at approximately $900,550. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, insider Joseph M. Erlinger sold 1,098 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $288.70, for a total value of $316,992.60. Following the completion of the transaction, the insider now directly owns 12,583 shares of the company’s stock, valued at approximately $3,632,712.10. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CMO Edith Morgan Flatley sold 2,346 shares of McDonald’s stock in a transaction 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 sale, the chief marketing officer now directly owns 2,905 shares in the company, valued at approximately $900,550. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 34,097 shares of company stock worth $10,221,233 in the last 90 days. Insiders own 0.23% of the company’s stock.

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.