Palumbo Wealth Management LLC Has $2.46 Million Holdings in McDonald’s Co. (NYSE:MCD)

Palumbo Wealth Management LLC lifted its stake in McDonald’s Co. (NYSE:MCD) by 1.8% during the 3rd quarter, HoldingsChannel reports. The fund owned 8,074 shares of the fast-food giant’s stock after buying an additional 145 shares during the period. Palumbo Wealth Management LLC’s holdings in McDonald’s were worth $2,459,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Steigerwald Gordon & Koch Inc. increased its holdings in shares of McDonald’s by 2.4% during the 3rd quarter. Steigerwald Gordon & Koch Inc. now owns 1,422 shares of the fast-food giant’s stock worth $433,000 after purchasing an additional 33 shares during the period. Riversedge Advisors LLC increased its stake in 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 acquiring an additional 33 shares during the period. Proquility Private Wealth Partners LLC raised its holdings in McDonald’s by 1.0% in the 3rd quarter. Proquility Private Wealth Partners LLC now owns 3,472 shares of the fast-food giant’s stock valued at $1,057,000 after acquiring an additional 35 shares in the last quarter. Founders Financial Alliance LLC raised its stake in shares of McDonald’s by 0.7% in 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 purchasing an additional 36 shares in the last quarter. Finally, McAdam LLC raised its stake in shares of McDonald’s by 1.7% in the 3rd 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 in the last quarter. 70.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MCD has been the subject of a number of analyst reports. JPMorgan Chase & Co. raised their price target on shares of McDonald’s from $270.00 to $290.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. Morgan Stanley lifted their price target on shares of McDonald’s from $296.00 to $340.00 and gave the company an “overweight” rating in a report on Tuesday, October 15th. Robert W. Baird cut shares of McDonald’s from an “outperform” rating to a “neutral” rating and cut their target price for the company from $320.00 to $290.00 in a research note on Wednesday, October 23rd. BMO Capital Markets increased their price target on McDonald’s from $315.00 to $335.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft cut their price target on McDonald’s from $295.00 to $290.00 and set a “buy” rating for the company in a report on Tuesday, July 30th. Thirteen investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $318.74.

McDonald’s Stock Performance

MCD stock traded up $0.22 during mid-day trading on Thursday, hitting $291.74. 420,041 shares of the company were exchanged, compared to its average volume of 3,509,908. The firm has a market cap of $209.28 billion, a P/E ratio of 25.52, a P/E/G ratio of 4.13 and a beta of 0.73. McDonald’s Co. has a 1-year low of $243.53 and a 1-year high of $317.90. The firm’s 50 day simple moving average is $298.19 and its 200 day simple moving average is $275.47.

McDonald’s (NYSE:MCD) last announced its earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share for the quarter, topping analysts’ consensus estimates of $3.18 by $0.05. McDonald’s had a net margin of 32.25% and a negative return on equity of 178.68%. 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 prior year, the business earned $3.19 EPS. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. On average, equities research analysts predict that McDonald’s Co. will post 11.73 EPS for the current fiscal year.

McDonald’s Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a $1.77 dividend. This represents a $7.08 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date of this dividend is Monday, December 2nd. This is a positive change from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s dividend payout ratio (DPR) is currently 61.94%.

Insider Buying and Selling at McDonald’s

In related news, insider Joseph M. Erlinger sold 1,099 shares of the firm’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $292.38, for a total value of $321,325.62. Following the completion of the transaction, the insider now owns 10,385 shares of the company’s stock, valued at approximately $3,036,366.30. This trade represents 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 accessible through this hyperlink. In other news, EVP Marion K. Gross sold 1,498 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $286.36, for a total transaction of $428,967.28. Following the sale, the executive vice president now owns 1,560 shares in the company, valued at $446,721.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Joseph M. Erlinger sold 1,099 shares of the firm’s stock in a transaction on 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 transaction, the insider now directly owns 10,385 shares of the company’s stock, valued at $3,036,366.30. This 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 34,097 shares of company stock worth $10,256,818. Corporate 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.