Acorn Creek Capital LLC Purchases Shares of 764 McDonald’s Co. (NYSE:MCD)

Acorn Creek Capital LLC purchased a new stake in McDonald’s Co. (NYSE:MCD) in the 3rd quarter, HoldingsChannel.com reports. The fund purchased 764 shares of the fast-food giant’s stock, valued at approximately $233,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Dixon Mitchell Investment Counsel Inc. purchased a new stake in shares of McDonald’s during the 1st quarter valued at $28,000. Kings Path Partners LLC purchased a new stake in shares of 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 1st 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 in the last quarter. Opal Wealth Advisors LLC purchased a new position in McDonald’s in the 2nd quarter worth $59,000. Finally, Redmont Wealth Advisors LLC purchased a new position in McDonald’s in the 1st quarter worth $69,000. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Tigress Financial lifted their target price on shares of McDonald’s from $355.00 to $360.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. 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. The Goldman Sachs Group lifted their target price on shares of McDonald’s from $284.00 to $325.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 24th. Loop Capital reissued a “buy” rating and issued a $342.00 price target on shares of McDonald’s in a report on Tuesday, September 10th. Finally, Bank of America cut their price target on shares of McDonald’s from $288.00 to $278.00 and set a “neutral” rating on the stock in a report on Tuesday, July 30th. Ten investment 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, McDonald’s presently has an average rating of “Moderate Buy” and an average price target of $314.92.

Insider Activity

In other news, insider Joseph M. Erlinger sold 1,098 shares of the business’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 completion of the transaction, the insider now directly owns 12,583 shares of the company’s stock, valued at $3,632,712.10. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other McDonald’s news, insider Joseph M. Erlinger sold 1,099 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $260.00, for a total transaction of $285,740.00. Following the completion of the sale, the insider now directly owns 13,681 shares of the company’s stock, valued at approximately $3,557,060. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Joseph M. Erlinger sold 1,098 shares of the company’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 sale, the insider now directly owns 12,583 shares of the company’s stock, valued at approximately $3,632,712.10. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,097 shares of company stock valued at $10,221,233 over the last three months. Insiders own 0.23% of the company’s stock.

McDonald’s Price Performance

NYSE:MCD opened at $313.32 on Wednesday. McDonald’s Co. has a one year low of $243.53 and a one year high of $315.36. The company’s 50-day simple moving average is $291.90 and its 200 day simple moving average is $272.91. The firm has a market capitalization of $225.80 billion, a P/E ratio of 26.60, a PEG 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 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.07 by ($0.10). The firm had revenue of $6.49 billion during the quarter, compared to analysts’ expectations of $6.62 billion. McDonald’s had a negative return on equity of 178.68% and a net margin of 32.25%. The firm’s quarterly revenue was down .1% on a year-over-year basis. During the same period last year, the firm posted $3.17 earnings per share. On average, equities research analysts expect that McDonald’s Co. will post 11.71 earnings per share for the current fiscal year.

McDonald’s Increases Dividend

The company 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 $1.77 dividend. 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 2.26%. McDonald’s’s payout ratio is 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.