SevenBridge Financial Group LLC Increases Position in McDonald’s Co. (NYSE:MCD)

SevenBridge Financial Group LLC boosted its holdings in shares of McDonald’s Co. (NYSE:MCD) by 5.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,440 shares of the fast-food giant’s stock after purchasing an additional 354 shares during the quarter. SevenBridge Financial Group LLC’s holdings in McDonald’s were worth $2,243,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Legal & General Group Plc increased its holdings in McDonald’s by 3.2% in the 2nd quarter. Legal & General Group Plc now owns 6,149,080 shares of the fast-food giant’s stock valued at $1,567,030,000 after acquiring an additional 188,888 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of McDonald’s by 0.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 5,564,359 shares of the fast-food giant’s stock valued at $1,694,403,000 after purchasing an additional 49,106 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in shares of McDonald’s by 8.0% in the second quarter. Ameriprise Financial Inc. now owns 4,761,625 shares of the fast-food giant’s stock worth $1,216,677,000 after purchasing an additional 354,196 shares during the last quarter. International Assets Investment Management LLC lifted its position in shares of McDonald’s by 31,151.1% in the third quarter. International Assets Investment Management LLC now owns 2,319,142 shares of the fast-food giant’s stock worth $706,202,000 after buying an additional 2,311,721 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its position in shares of McDonald’s by 1.1% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,015,441 shares of the fast-food giant’s stock worth $613,722,000 after buying an additional 22,780 shares in the last quarter. Institutional investors own 70.29% of the company’s stock.

McDonald’s Stock Performance

NYSE MCD opened at $290.28 on Friday. McDonald’s Co. has a one year low of $243.53 and a one year high of $317.90. The company has a market capitalization of $208.02 billion, a price-to-earnings ratio of 25.49, a price-to-earnings-growth ratio of 3.84 and a beta of 0.74. The company’s 50-day simple moving average is $299.85 and its two-hundred day simple moving average is $278.13.

McDonald’s (NYSE:MCD) last issued its quarterly earnings data on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.18 by $0.05. The company had revenue of $6.87 billion for the quarter, compared to analyst estimates of $6.82 billion. McDonald’s had a net margin of 31.79% and a negative return on equity of 175.42%. McDonald’s’s revenue was up 2.7% compared to the same quarter last year. During the same period last year, the company posted $3.19 earnings per share. Equities analysts expect that McDonald’s Co. will post 11.77 earnings per share for the current fiscal year.

McDonald’s Increases Dividend

The business also recently declared 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. The ex-dividend date is Monday, December 2nd. This is an increase from McDonald’s’s previous quarterly dividend of $1.67. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.44%. McDonald’s’s dividend payout ratio (DPR) is currently 62.16%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Wells Fargo & Company lifted their price objective on McDonald’s from $285.00 to $350.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. The Goldman Sachs Group boosted their price target on shares of McDonald’s from $284.00 to $325.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 24th. Wedbush reiterated an “outperform” rating and set a $295.00 price objective on shares of McDonald’s in a research report on Wednesday, October 23rd. Barclays boosted their target price on shares of McDonald’s from $300.00 to $325.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. Finally, Morgan Stanley upped their target price on shares of McDonald’s from $296.00 to $340.00 and gave the company an “overweight” rating in a research report on Tuesday, October 15th. Thirteen analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $319.46.

Insider Transactions at McDonald’s

In related news, EVP Marion K. Gross sold 1,499 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $294.51, for a total transaction of $441,470.49. Following the completion of the transaction, the executive vice president now owns 1,560 shares in the company, valued at $459,435.60. The trade was a 49.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Ian Frederick Borden sold 5,939 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $300.04, for a total transaction of $1,781,937.56. Following the completion of the sale, the chief financial officer now owns 20,403 shares of the company’s stock, valued at approximately $6,121,716.12. This trade represents a 22.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 34,498 shares of company stock valued at $10,381,296. Corporate insiders own 0.23% of the company’s stock.

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.