Lowe Brockenbrough & Co. Inc. Has $5.46 Million Stock Holdings in McDonald’s Co. (NYSE:MCD)

Lowe Brockenbrough & Co. Inc. raised its holdings in McDonald’s Co. (NYSE:MCD) by 9.8% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 17,923 shares of the fast-food giant’s stock after buying an additional 1,606 shares during the quarter. Lowe Brockenbrough & Co. Inc.’s holdings in McDonald’s were worth $5,458,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the business. Kings Path Partners LLC acquired a new position in McDonald’s during the 2nd quarter valued at $38,000. Keener Financial Planning LLC raised its position in shares of McDonald’s by 32.3% during the first quarter. Keener Financial Planning LLC now owns 176 shares of the fast-food giant’s stock valued at $50,000 after buying an additional 43 shares during the last quarter. Opal Wealth Advisors LLC bought a new stake in shares of McDonald’s in the second quarter valued at about $59,000. Bbjs Financial Advisors LLC bought a new stake in shares of McDonald’s in the second quarter valued at about $65,000. Finally, Macroview Investment Management LLC grew its position in McDonald’s by 433.3% during the second quarter. Macroview Investment Management LLC now owns 256 shares of the fast-food giant’s stock worth $65,000 after buying an additional 208 shares in the last quarter. 70.29% of the stock is owned by institutional investors.

McDonald’s Stock Performance

NYSE:MCD opened at $295.24 on Friday. The company has a market cap of $211.79 billion, a price-to-earnings ratio of 25.92, a P/E/G ratio of 3.85 and a beta of 0.73. The stock’s fifty day moving average price is $298.36 and its two-hundred day moving average price is $275.78. McDonald’s Co. has a 52-week low of $243.53 and a 52-week high of $317.90.

McDonald’s (NYSE:MCD) last issued its quarterly earnings results 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. McDonald’s had a negative return on equity of 178.99% and a net margin of 31.79%. The business had revenue of $6.87 billion for the quarter, compared to analyst estimates of $6.82 billion. During the same quarter in the prior year, the firm posted $3.19 earnings per share. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. On average, equities analysts predict that McDonald’s Co. will post 11.78 EPS for the current fiscal year.

McDonald’s Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a dividend of $1.77 per share. This represents a $7.08 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date is Monday, December 2nd. This is a positive change from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s payout ratio is currently 58.65%.

Analysts Set New Price Targets

Several equities analysts have commented on MCD shares. TD Cowen reaffirmed a “hold” rating and issued a $300.00 price target on shares of McDonald’s in a report on Tuesday. Evercore ISI raised their target price on McDonald’s from $320.00 to $340.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 15th. Robert W. Baird lowered shares of McDonald’s from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $320.00 to $290.00 in a report on Wednesday, October 23rd. Loop Capital reaffirmed a “buy” rating on shares of McDonald’s in a report on Friday, October 18th. 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 note on Tuesday, September 3rd. Thirteen equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $319.46.

Insider Buying and Selling at McDonald’s

In other news, insider Joseph M. Erlinger sold 1,098 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $288.70, for a total value of $316,992.60. Following the transaction, the insider now directly owns 12,583 shares in the company, valued at $3,632,712.10. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider Joseph M. Erlinger sold 1,098 shares of McDonald’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $288.70, for a total transaction of $316,992.60. Following the transaction, the insider now owns 12,583 shares of the company’s stock, valued at $3,632,712.10. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Marion K. Gross sold 1,498 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $286.36, for a total transaction of $428,967.28. Following the transaction, the executive vice president now owns 1,560 shares of the company’s stock, valued at approximately $446,721.60. This represents 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 $10,256,818. Insiders own 0.23% of the company’s stock.

McDonald’s Company 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.