OLD National Bancorp IN Purchases 250 Shares of McDonald’s Co. (NYSE:MCD)

OLD National Bancorp IN grew its holdings in shares of McDonald’s Co. (NYSE:MCD) by 0.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 31,890 shares of the fast-food giant’s stock after acquiring an additional 250 shares during the quarter. OLD National Bancorp IN’s holdings in McDonald’s were worth $9,711,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Dixon Mitchell Investment Counsel Inc. acquired a new position in shares of McDonald’s in the first quarter valued at approximately $28,000. Kings Path Partners LLC acquired a new stake in McDonald’s during the 2nd quarter valued at approximately $38,000. Keener Financial Planning LLC increased its position in McDonald’s by 32.3% during the 1st quarter. Keener Financial Planning LLC now owns 176 shares of the fast-food giant’s stock valued at $50,000 after purchasing an additional 43 shares during the period. Opal Wealth Advisors LLC acquired a new stake in McDonald’s during the 2nd quarter valued at approximately $59,000. Finally, Bbjs Financial Advisors LLC bought a new position in shares of McDonald’s during the 2nd quarter worth approximately $65,000. Institutional investors and hedge funds own 70.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on MCD shares. Deutsche Bank Aktiengesellschaft cut their price target on McDonald’s from $295.00 to $290.00 and set a “buy” rating on the stock in a report on Tuesday, July 30th. Tigress Financial increased their price target on McDonald’s from $355.00 to $360.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. KeyCorp increased their price target on McDonald’s from $305.00 to $330.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Stifel Nicolaus cut their target price on McDonald’s from $285.00 to $265.00 and set a “hold” rating on the stock in a report on Monday, July 22nd. Finally, Bank of America cut their target price on McDonald’s from $288.00 to $278.00 and set a “neutral” rating on the stock in a report on Tuesday, July 30th. Ten analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $315.69.

Insider Activity

In other news, CEO Christopher J. Kempczinski sold 11,727 shares of McDonald’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $300.03, for a total transaction of $3,518,451.81. Following the completion of the sale, the chief executive officer now owns 49,885 shares in the company, valued at approximately $14,966,996.55. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, EVP Marion K. Gross sold 1,498 shares of the business’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 value of $428,967.28. Following the completion of the sale, the executive vice president now owns 1,560 shares in the company, valued at $446,721.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Christopher J. Kempczinski sold 11,727 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $300.03, for a total value of $3,518,451.81. Following the completion of the sale, the chief executive officer now owns 49,885 shares of the company’s stock, valued at $14,966,996.55. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 34,097 shares of company stock worth $10,221,233. 0.23% of the stock is currently owned by insiders.

McDonald’s Stock Up 0.6 %

MCD traded up $1.86 during trading hours on Friday, hitting $316.56. The stock had a trading volume of 2,531,197 shares, compared to its average volume of 3,356,786. McDonald’s Co. has a 1 year low of $243.53 and a 1 year high of $317.18. The company’s fifty day simple moving average is $294.62 and its 200 day simple moving average is $273.70. The stock has a market cap of $228.14 billion, a PE ratio of 26.87, a price-to-earnings-growth ratio of 4.05 and a beta of 0.73.

McDonald’s (NYSE:MCD) last issued its earnings results on Monday, July 29th. The fast-food giant reported $2.97 EPS for the quarter, missing the consensus estimate of $3.07 by ($0.10). McDonald’s had a negative return on equity of 178.68% and a net margin of 32.25%. The company had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $6.62 billion. During the same quarter in the prior year, the business earned $3.17 EPS. The firm’s revenue for the quarter was down .1% compared to the same quarter last year. As a group, equities analysts expect that McDonald’s Co. will post 11.71 EPS for the current year.

McDonald’s Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a $1.77 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $7.08 annualized dividend and a yield of 2.24%. This is an increase from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s dividend payout ratio (DPR) is currently 60.10%.

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.