Mattern Capital Management LLC Grows Position in McDonald’s Co. (NYSE:MCD)

Mattern Capital Management LLC raised its holdings in shares of McDonald’s Co. (NYSE:MCD) by 0.7% in the third quarter, Holdings Channel.com reports. The institutional investor owned 29,531 shares of the fast-food giant’s stock after purchasing an additional 212 shares during the quarter. Mattern Capital Management LLC’s holdings in McDonald’s were worth $8,992,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Dixon Mitchell Investment Counsel Inc. purchased a new stake in shares of McDonald’s during the first quarter worth $28,000. Kings Path Partners LLC acquired a new position in shares of McDonald’s during the 2nd quarter valued at about $38,000. Keener Financial Planning LLC boosted its position in shares of 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 acquiring an additional 43 shares during the last quarter. Opal Wealth Advisors LLC acquired a new position in shares of McDonald’s during the 2nd quarter valued at about $59,000. Finally, Redmont Wealth Advisors LLC acquired a new position in shares of McDonald’s during the 1st quarter valued at about $69,000. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Insider Buying and Selling at McDonald’s

In other McDonald’s news, insider Joseph M. Erlinger sold 1,099 shares of the firm’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $292.38, for a total value of $321,325.62. Following the completion of the sale, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other McDonald’s news, CMO Edith Morgan Flatley sold 2,346 shares of the firm’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $310.00, for a total value of $727,260.00. Following the completion of the sale, the chief marketing officer now owns 2,905 shares of the company’s stock, valued at approximately $900,550. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 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 represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 34,097 shares of company stock valued at $10,256,818. 0.23% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. The Goldman Sachs Group upped their target price on shares of McDonald’s from $284.00 to $325.00 and gave the company a “neutral” rating in a research report on Tuesday, September 24th. KeyCorp upped their target price on shares of McDonald’s from $305.00 to $330.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. BMO Capital Markets decreased their target price on shares of McDonald’s from $330.00 to $315.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 30th. UBS Group upped their target price on shares of McDonald’s from $305.00 to $345.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Finally, Tigress Financial upped their target price on shares of McDonald’s from $355.00 to $360.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Thirteen research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to data from MarketBeat, McDonald’s presently has an average rating of “Moderate Buy” and a consensus target price of $318.22.

McDonald’s Price Performance

Shares of NYSE MCD opened at $292.61 on Friday. The stock has a fifty day moving average price of $297.78 and a 200 day moving average price of $274.91. McDonald’s Co. has a 1-year low of $243.53 and a 1-year high of $317.90. The company has a market cap of $210.88 billion, a PE ratio of 24.84, a P/E/G ratio of 4.13 and a beta of 0.73.

McDonald’s (NYSE:MCD) last issued its quarterly earnings results on Monday, July 29th. The fast-food giant reported $2.97 earnings per share 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 for the quarter, compared to analyst estimates of $6.62 billion. During the same period in the prior year, the business earned $3.17 earnings per share. McDonald’s’s revenue for the quarter was down .1% compared to the same quarter last year. Analysts anticipate that McDonald’s Co. will post 11.73 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. Investors of record on Monday, December 2nd will be issued a dividend of $1.77 per share. The ex-dividend date of this dividend is Monday, December 2nd. This is an increase from McDonald’s’s previous quarterly dividend of $1.67. This represents a $7.08 annualized dividend and a dividend yield of 2.42%. 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.