Grimes & Company Inc. Grows Stake in McDonald’s Co. (NYSE:MCD)

Grimes & Company Inc. grew its position in McDonald’s Co. (NYSE:MCD) by 2.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,111 shares of the fast-food giant’s stock after purchasing an additional 264 shares during the quarter. Grimes & Company Inc.’s holdings in McDonald’s were worth $3,688,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of MCD. Steigerwald Gordon & Koch Inc. grew its holdings in shares of McDonald’s by 2.4% during the third quarter. Steigerwald Gordon & Koch Inc. now owns 1,422 shares of the fast-food giant’s stock valued at $433,000 after buying an additional 33 shares during the last quarter. Riversedge Advisors LLC grew its holdings in shares of McDonald’s by 2.0% during the third quarter. Riversedge Advisors LLC now owns 1,686 shares of the fast-food giant’s stock valued at $513,000 after buying an additional 33 shares during the last quarter. Proquility Private Wealth Partners LLC grew its holdings in shares of McDonald’s by 1.0% during the third quarter. Proquility Private Wealth Partners LLC now owns 3,472 shares of the fast-food giant’s stock valued at $1,057,000 after buying an additional 35 shares during the last quarter. Founders Financial Alliance LLC grew its holdings in shares of McDonald’s by 0.7% during the second quarter. Founders Financial Alliance LLC now owns 4,980 shares of the fast-food giant’s stock valued at $1,269,000 after buying an additional 36 shares during the last quarter. Finally, McAdam LLC grew its holdings in shares of McDonald’s by 1.7% during the third quarter. McAdam LLC now owns 2,176 shares of the fast-food giant’s stock valued at $663,000 after buying an additional 36 shares during the last quarter. 70.29% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Joseph M. Erlinger sold 1,098 shares of the stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $288.70, for a total value of $316,992.60. Following the transaction, the insider now directly owns 12,583 shares of the company’s stock, valued at $3,632,712.10. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, insider Joseph M. Erlinger sold 1,098 shares of the stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $288.70, for a total value of $316,992.60. Following the transaction, the insider now directly owns 12,583 shares of the company’s stock, valued at $3,632,712.10. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Christopher J. Kempczinski sold 11,727 shares of the stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $300.03, for a total transaction of $3,518,451.81. Following the completion of the transaction, the chief executive officer now directly owns 49,885 shares in the company, valued at $14,966,996.55. 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 three months, insiders have sold 32,998 shares of company stock worth $9,935,493. 0.23% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Jefferies Financial Group boosted their price objective on shares of McDonald’s from $310.00 to $330.00 and gave the company a “buy” rating in a report on Monday, September 9th. Bank of America boosted their target price on shares of McDonald’s from $308.00 to $322.00 and gave the company a “neutral” rating in a research report on Monday. BMO Capital Markets decreased their target price on shares of McDonald’s from $330.00 to $315.00 and set an “outperform” rating for the company in a research report on Tuesday, July 30th. Robert W. Baird downgraded shares of McDonald’s from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $320.00 to $290.00 in a research report on Wednesday. Finally, Citigroup upped their price objective on shares of McDonald’s from $301.00 to $317.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Thirteen investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $318.22.

McDonald’s Price Performance

Shares of MCD traded up $0.05 during midday trading on Thursday, reaching $298.62. The stock had a trading volume of 758,187 shares, compared to its average volume of 3,424,307. McDonald’s Co. has a 1-year low of $243.53 and a 1-year high of $317.90. The company’s fifty day simple moving average is $296.97 and its two-hundred day simple moving average is $274.51. The company has a market cap of $215.21 billion, a price-to-earnings ratio of 25.36, a PEG ratio of 4.05 and a beta of 0.73.

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

McDonald’s Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a $1.77 dividend. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.37%. This is a positive change from McDonald’s’s previous quarterly dividend of $1.67. The ex-dividend date of this dividend is Monday, December 2nd. McDonald’s’s dividend payout ratio (DPR) is presently 60.10%.

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.