Horan Capital Advisors LLC. Buys Shares of 770 McDonald’s Co. (NYSE:MCD)

Horan Capital Advisors LLC. purchased a new position in McDonald’s Co. (NYSE:MCD) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 770 shares of the fast-food giant’s stock, valued at approximately $234,000.

A number of other institutional investors have also recently made changes to their positions in the stock. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in McDonald’s in the third quarter worth $121,254,000. Banque Cantonale Vaudoise raised its holdings in shares of McDonald’s by 25.7% during the 3rd quarter. Banque Cantonale Vaudoise now owns 42,829 shares of the fast-food giant’s stock valued at $13,042,000 after buying an additional 8,768 shares in the last quarter. First City Capital Management Inc. lifted its position in McDonald’s by 22.7% in the 3rd quarter. First City Capital Management Inc. now owns 2,655 shares of the fast-food giant’s stock worth $808,000 after buying an additional 491 shares during the last quarter. Fifth Third Wealth Advisors LLC grew its position in McDonald’s by 18.3% during the third quarter. Fifth Third Wealth Advisors LLC now owns 21,225 shares of the fast-food giant’s stock valued at $6,463,000 after acquiring an additional 3,279 shares during the last quarter. Finally, Wrapmanager Inc. lifted its holdings in shares of McDonald’s by 3.5% in the 3rd quarter. Wrapmanager Inc. now owns 4,614 shares of the fast-food giant’s stock worth $1,405,000 after acquiring an additional 156 shares during the last quarter. Institutional investors own 70.29% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Loop Capital reaffirmed a “buy” rating on shares of McDonald’s in a report on Friday, October 18th. Wedbush restated an “outperform” rating and set a $295.00 price target on shares of McDonald’s in a research report on Wednesday, October 23rd. BMO Capital Markets lifted their price objective on McDonald’s from $315.00 to $335.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. KeyCorp increased their target price on McDonald’s from $305.00 to $330.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Finally, Stifel Nicolaus reduced their price target on McDonald’s from $285.00 to $265.00 and set a “hold” rating on the stock in a research report on Monday, July 22nd. Thirteen analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $319.46.

McDonald’s Stock Performance

MCD stock opened at $291.10 on Tuesday. The company has a market capitalization of $208.61 billion, a price-to-earnings ratio of 25.56, a price-to-earnings-growth ratio of 3.89 and a beta of 0.74. The business’s 50 day moving average price is $300.06 and its two-hundred day moving average price is $277.60. McDonald’s Co. has a fifty-two week low of $243.53 and a fifty-two week high of $317.90.

McDonald’s (NYSE:MCD) last issued its quarterly earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share for the quarter, topping the consensus estimate of $3.18 by $0.05. The company had revenue of $6.87 billion for the quarter, compared to analysts’ expectations 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 for the quarter was up 2.7% on a year-over-year basis. During the same period in the prior year, the firm earned $3.19 earnings per share. Sell-side analysts forecast that McDonald’s Co. will post 11.77 earnings per share for the current year.

McDonald’s Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a dividend of $1.77 per share. 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 2.43%. The ex-dividend date is Monday, December 2nd. McDonald’s’s dividend payout ratio (DPR) is 62.16%.

Insiders Place Their Bets

In other 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 sale, the insider now directly owns 12,583 shares of the company’s stock, valued at approximately $3,632,712.10. This represents a 8.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Marion K. Gross sold 1,498 shares of McDonald’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $286.36, for a total value of $428,967.28. Following the completion of the transaction, the executive vice president now directly owns 1,560 shares of the company’s stock, valued at approximately $446,721.60. This represents a 48.99 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 35,596 shares of company stock worth $10,698,289. 0.23% of the stock is currently owned by company 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.