Biltmore Family Office LLC Acquires 478 Shares of McDonald’s Co. (NYSE:MCD)

Biltmore Family Office LLC raised its stake in McDonald’s Co. (NYSE:MCD) by 17.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,199 shares of the fast-food giant’s stock after acquiring an additional 478 shares during the quarter. Biltmore Family Office LLC’s holdings in McDonald’s were worth $974,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in MCD. Quent Capital LLC increased its holdings in shares of McDonald’s by 10.4% during the first quarter. Quent Capital LLC now owns 3,006 shares of the fast-food giant’s stock worth $848,000 after buying an additional 282 shares in the last quarter. Westwood Holdings Group Inc. increased its holdings in McDonald’s by 7.1% in the 1st quarter. Westwood Holdings Group Inc. now owns 6,933 shares of the fast-food giant’s stock worth $1,955,000 after purchasing an additional 461 shares in the last quarter. Gamco Investors INC. ET AL raised its position in McDonald’s by 22.5% in the first quarter. Gamco Investors INC. ET AL now owns 2,083 shares of the fast-food giant’s stock valued at $587,000 after purchasing an additional 383 shares during the last quarter. Gabelli Funds LLC boosted its stake in shares of McDonald’s by 40.0% during the first quarter. Gabelli Funds LLC now owns 1,050 shares of the fast-food giant’s stock valued at $296,000 after purchasing an additional 300 shares in the last quarter. Finally, Bank of Nova Scotia Trust Co. grew its holdings in shares of McDonald’s by 44.5% during the first quarter. Bank of Nova Scotia Trust Co. now owns 10,053 shares of the fast-food giant’s stock worth $2,834,000 after purchasing an additional 3,096 shares during the last quarter. 70.29% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other McDonald’s news, insider Joseph M. Erlinger sold 1,099 shares of McDonald’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $298.57, for a total transaction of $328,128.43. Following the transaction, the insider now owns 11,484 shares of the company’s stock, valued at $3,428,777.88. This trade represents a 8.73 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Marion K. Gross sold 1,499 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $294.51, for a total value of $441,470.49. Following the sale, the executive vice president now directly owns 1,560 shares of the company’s stock, valued at $459,435.60. The trade was a 49.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 34,498 shares of company stock valued at $10,381,296 in the last three months. 0.23% of the stock is currently owned by insiders.

McDonald’s Price Performance

Shares of NYSE MCD opened at $288.32 on Friday. McDonald’s Co. has a 1 year low of $243.53 and a 1 year high of $317.90. The stock has a market capitalization of $206.61 billion, a P/E ratio of 25.31, a P/E/G ratio of 3.87 and a beta of 0.74. The company has a 50-day moving average price of $299.98 and a 200-day moving average price of $277.91.

McDonald’s (NYSE:MCD) last issued its quarterly earnings data on Tuesday, October 29th. The fast-food giant reported $3.23 EPS for the quarter, topping analysts’ consensus estimates of $3.18 by $0.05. McDonald’s had a negative return on equity of 175.42% and a net margin of 31.79%. The firm had revenue of $6.87 billion during the quarter, compared to analyst estimates of $6.82 billion. During the same period in the previous year, the company posted $3.19 EPS. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. As a group, equities research analysts anticipate that McDonald’s Co. will post 11.77 earnings per share for the current fiscal 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 paid a dividend of $1.77 per share. The ex-dividend date is Monday, December 2nd. This is a boost from McDonald’s’s previous quarterly dividend of $1.67. This represents a $7.08 annualized dividend and a yield of 2.46%. McDonald’s’s dividend payout ratio (DPR) is 58.65%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on MCD shares. The Goldman Sachs Group raised their price objective on shares of McDonald’s from $284.00 to $325.00 and gave the company a “neutral” rating in a report on Tuesday, September 24th. BMO Capital Markets lifted their price target on shares of McDonald’s from $315.00 to $335.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. UBS Group boosted their price objective on shares of McDonald’s from $305.00 to $345.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Argus raised McDonald’s from a “hold” rating to a “buy” rating in a research report on Tuesday, October 8th. Finally, Wells Fargo & Company increased their price target on McDonald’s from $285.00 to $350.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Thirteen analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $319.46.

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.