First City Capital Management Inc. Acquires 491 Shares of McDonald’s Co. (NYSE:MCD)

First City Capital Management Inc. grew its holdings in McDonald’s Co. (NYSE:MCD) by 22.7% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 2,655 shares of the fast-food giant’s stock after buying an additional 491 shares during the quarter. First City Capital Management Inc.’s holdings in McDonald’s were worth $808,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Legal & General Group Plc increased its holdings in McDonald’s by 3.2% during the 2nd quarter. Legal & General Group Plc now owns 6,149,080 shares of the fast-food giant’s stock worth $1,567,030,000 after acquiring an additional 188,888 shares during the period. Capital Research Global Investors increased its holdings in McDonald’s by 66.9% during the 1st quarter. Capital Research Global Investors now owns 5,471,007 shares of the fast-food giant’s stock worth $1,542,550,000 after acquiring an additional 2,193,769 shares during the period. Ameriprise Financial Inc. increased its holdings in McDonald’s by 8.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 4,761,625 shares of the fast-food giant’s stock worth $1,216,677,000 after acquiring an additional 354,196 shares during the period. Capital World Investors increased its holdings in McDonald’s by 39.7% during the 1st quarter. Capital World Investors now owns 3,565,398 shares of the fast-food giant’s stock worth $1,005,264,000 after acquiring an additional 1,012,534 shares during the period. Finally, International Assets Investment Management LLC increased its holdings in McDonald’s by 31,151.1% during the 3rd quarter. International Assets Investment Management LLC now owns 2,319,142 shares of the fast-food giant’s stock worth $706,202,000 after acquiring an additional 2,311,721 shares during the period. Institutional investors own 70.29% of the company’s stock.

McDonald’s Stock Down 0.5 %

NYSE:MCD opened at $291.10 on Tuesday. The company has a fifty day moving average of $300.06 and a 200 day moving average of $277.60. McDonald’s Co. has a 52 week low of $243.53 and a 52 week high of $317.90. The firm has a market capitalization of $208.61 billion, a P/E ratio of 25.56, a P/E/G ratio of 3.89 and a beta of 0.74.

McDonald’s (NYSE:MCD) last posted its quarterly earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 EPS for the quarter, beating analysts’ consensus estimates of $3.18 by $0.05. McDonald’s had a net margin of 31.79% and a negative return on equity of 175.42%. The company 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 posted $3.19 EPS. The firm’s revenue was up 2.7% compared to the same quarter last year. As a group, analysts anticipate that McDonald’s Co. will post 11.77 EPS for the current year.

McDonald’s Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a $1.77 dividend. 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 annualized dividend and a yield of 2.43%. McDonald’s’s dividend payout ratio is 62.16%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Loop Capital reaffirmed a “buy” rating on shares of McDonald’s in a report on Friday, October 18th. Tigress Financial upped their target price on shares of McDonald’s from $355.00 to $360.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Deutsche Bank Aktiengesellschaft cut their price target on shares of McDonald’s from $295.00 to $290.00 and set a “buy” rating for the company in a research note on Tuesday, July 30th. Morgan Stanley boosted their price target on shares of McDonald’s from $296.00 to $340.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 15th. Finally, Wells Fargo & Company boosted 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. Thirteen equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat, McDonald’s currently has an average rating of “Moderate Buy” and a consensus target price of $319.46.

Insiders Place Their Bets

In related news, CEO Christopher J. Kempczinski sold 11,727 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $300.03, for a total value 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 19.03 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Marion K. Gross sold 1,498 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was 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 of the company’s stock, valued at approximately $446,721.60. The trade was a 48.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 35,596 shares of company stock worth $10,698,289. 0.23% of the stock is currently owned by corporate insiders.

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.