McDonald’s Co. (NYSE:MCD) Shares Bought by Harmony Asset Management LLC

Harmony Asset Management LLC lifted its holdings in McDonald’s Co. (NYSE:MCD) by 12.6% during the third quarter, HoldingsChannel reports. The institutional investor owned 2,691 shares of the fast-food giant’s stock after purchasing an additional 302 shares during the period. Harmony Asset Management LLC’s holdings in McDonald’s were worth $819,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. CVA Family Office LLC increased its stake in McDonald’s by 4.4% during the 2nd quarter. CVA Family Office LLC now owns 1,619 shares of the fast-food giant’s stock worth $413,000 after purchasing an additional 68 shares in the last quarter. CWM LLC grew its holdings in McDonald’s by 7.5% during the second quarter. CWM LLC now owns 74,266 shares of the fast-food giant’s stock worth $18,926,000 after buying an additional 5,173 shares in the last quarter. First Affirmative Financial Network increased its position in McDonald’s by 20.0% in the second quarter. First Affirmative Financial Network now owns 990 shares of the fast-food giant’s stock worth $252,000 after buying an additional 165 shares during the last quarter. M. Kraus & Co increased its holdings in shares of McDonald’s by 2.3% in the second quarter. M. Kraus & Co now owns 2,247 shares of the fast-food giant’s stock worth $573,000 after purchasing an additional 50 shares during the period. Finally, Aprio Wealth Management LLC raised its position in McDonald’s by 3.6% in the 2nd quarter. Aprio Wealth Management LLC now owns 1,998 shares of the fast-food giant’s stock worth $509,000 after purchasing an additional 69 shares during the period. 70.29% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. TD Cowen restated a “hold” rating and set a $300.00 price target on shares of McDonald’s in a research note on Tuesday, October 29th. Wells Fargo & Company boosted their price objective on McDonald’s from $285.00 to $350.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. Morgan Stanley boosted their target price on McDonald’s from $296.00 to $340.00 and gave the company an “overweight” rating in a research report on Tuesday, October 15th. KeyCorp increased their price target on shares of McDonald’s from $305.00 to $330.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Finally, 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 research report on Wednesday, October 30th. Thirteen analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $319.64.

McDonald’s Stock Down 1.2 %

NYSE:MCD opened at $292.44 on Tuesday. The company has a market cap of $209.57 billion, a price-to-earnings ratio of 25.68, a price-to-earnings-growth ratio of 3.94 and a beta of 0.73. McDonald’s Co. has a 52 week low of $243.53 and a 52 week high of $317.90. The company has a fifty day simple moving average of $299.96 and a two-hundred day simple moving average of $279.04.

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. On average, analysts expect that McDonald’s Co. will post 11.77 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. Stockholders of record on Monday, December 2nd will be issued a $1.77 dividend. This is a boost from McDonald’s’s previous quarterly dividend of $1.67. The ex-dividend date is Monday, December 2nd. This represents a $7.08 annualized dividend and a dividend yield of 2.42%. McDonald’s’s dividend payout ratio is presently 58.65%.

Insider Buying and Selling at McDonald’s

In other news, insider Joseph M. Erlinger sold 1,099 shares of the business’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $298.57, for a total transaction of $328,128.43. Following the completion of the transaction, the insider now directly owns 11,484 shares in the company, valued at approximately $3,428,777.88. The trade was a 8.73 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Christopher J. Kempczinski sold 11,727 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $300.03, for a total transaction of $3,518,451.81. Following the completion of the transaction, the chief executive officer now owns 49,885 shares in the company, valued at approximately $14,966,996.55. This trade represents a 19.03 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,099 shares of company stock valued at $10,273,786. 0.23% of the stock is owned by company insiders.

McDonald’s Profile

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.