Cable Hill Partners LLC Invests $251,000 in McDonald’s Co. (NYSE:MCD)

Cable Hill Partners LLC acquired a new position in shares of McDonald’s Co. (NYSE:MCD) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 825 shares of the fast-food giant’s stock, valued at approximately $251,000.

A number of other hedge funds have also modified their holdings of MCD. International Assets Investment Management LLC increased its stake in shares of McDonald’s by 31,151.1% during the 3rd quarter. International Assets Investment Management LLC now owns 2,319,142 shares of the fast-food giant’s stock worth $706,202,000 after purchasing an additional 2,311,721 shares in the last quarter. Capital Research Global Investors grew its stake in McDonald’s by 66.9% in the 1st quarter. Capital Research Global Investors now owns 5,471,007 shares of the fast-food giant’s stock worth $1,542,550,000 after acquiring an additional 2,193,769 shares during the period. Swedbank AB purchased a new stake in McDonald’s in the 1st quarter worth approximately $348,206,000. Capital World Investors grew its stake in McDonald’s by 39.7% in the 1st quarter. Capital World Investors now owns 3,565,398 shares of the fast-food giant’s stock worth $1,005,264,000 after acquiring an additional 1,012,534 shares during the period. Finally, Mondrian Investment Partners LTD purchased a new stake in McDonald’s in the 2nd quarter worth approximately $110,321,000. 70.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on MCD. BMO Capital Markets lifted their target price on shares of McDonald’s from $315.00 to $335.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. TD Cowen reaffirmed a “hold” rating and issued a $300.00 target price on shares of McDonald’s in a research note on Tuesday, October 29th. Wedbush reaffirmed an “outperform” rating and issued a $295.00 target price on shares of McDonald’s in a research note on Wednesday, October 23rd. Bank of America boosted their price objective on shares of McDonald’s from $321.00 to $324.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Finally, Citigroup boosted their price objective on shares of McDonald’s from $301.00 to $317.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. Thirteen equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $319.46.

Insider Transactions at McDonald’s

In related news, insider Joseph M. Erlinger sold 1,098 shares of the stock in a transaction dated 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 owns 12,583 shares in the company, valued at $3,632,712.10. This represents a 8.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Marion K. Gross sold 1,498 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $286.36, for a total transaction of $428,967.28. Following the sale, the executive vice president now owns 1,560 shares in the company, valued at approximately $446,721.60. This trade represents a 48.99 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 35,596 shares of company stock valued at $10,698,289. Insiders own 0.23% of the company’s stock.

McDonald’s Price Performance

Shares of MCD stock opened at $298.56 on Friday. McDonald’s Co. has a 12 month low of $243.53 and a 12 month high of $317.90. The firm has a market capitalization of $213.95 billion, a P/E ratio of 26.21, a P/E/G ratio of 3.95 and a beta of 0.74. The company’s fifty day moving average price is $299.79 and its two-hundred day moving average price is $277.14.

McDonald’s (NYSE:MCD) last issued its quarterly earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 EPS for the quarter, topping the consensus estimate of $3.18 by $0.05. McDonald’s had a net margin of 31.79% and a negative return on equity of 175.42%. The business had revenue of $6.87 billion for the quarter, compared to analysts’ expectations of $6.82 billion. During the same quarter last year, the company posted $3.19 earnings per share. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. On average, sell-side analysts anticipate that McDonald’s Co. will post 11.77 EPS for the current year.

McDonald’s Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a dividend of $1.77 per share. 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 2.37%. McDonald’s’s dividend payout ratio (DPR) is presently 58.65%.

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.