McDonald’s Co. (NYSE:MCD) Shares Bought by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. increased its stake in McDonald’s Co. (NYSE:MCD) by 1.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,413 shares of the fast-food giant’s stock after acquiring an additional 272 shares during the period. Oppenheimer Asset Management Inc.’s holdings in McDonald’s were worth $4,389,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of MCD. Kings Path Partners LLC acquired a new stake in shares of McDonald’s in the second quarter valued at $38,000. Hara Capital LLC acquired a new stake in shares of McDonald’s in the third quarter valued at $44,000. Opal Wealth Advisors LLC acquired a new stake in shares of McDonald’s in the second quarter valued at $59,000. Bbjs Financial Advisors LLC acquired a new stake in shares of McDonald’s in the second quarter valued at $65,000. Finally, Macroview Investment Management LLC raised its stake in shares of McDonald’s by 433.3% in the second quarter. Macroview Investment Management LLC now owns 256 shares of the fast-food giant’s stock valued at $65,000 after acquiring an additional 208 shares in the last quarter. 70.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at McDonald’s

In other 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 completion of the sale, the insider now directly owns 12,583 shares in the company, valued at approximately $3,632,712.10. This trade represents a 8.03 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CMO Edith Morgan Flatley sold 2,346 shares of McDonald’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $310.00, for a total transaction of $727,260.00. Following the sale, the chief marketing officer now owns 2,905 shares of the company’s stock, valued at approximately $900,550. The trade was a 44.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 35,596 shares of company stock worth $10,698,289 over the last 90 days. Company insiders own 0.23% of the company’s stock.

McDonald’s Stock Down 2.0 %

Shares of NYSE:MCD opened at $292.52 on Friday. The company has a market cap of $209.63 billion, a P/E ratio of 25.68, a PEG ratio of 3.95 and a beta of 0.74. McDonald’s Co. has a 52 week low of $243.53 and a 52 week high of $317.90. The company has a 50-day moving average price of $300.00 and a 200 day moving average price of $277.29.

McDonald’s (NYSE:MCD) last announced its quarterly earnings data on Tuesday, October 29th. The fast-food giant reported $3.23 EPS for the quarter, beating analysts’ consensus estimates of $3.18 by $0.05. The firm had revenue of $6.87 billion during the quarter, compared to the consensus estimate of $6.82 billion. McDonald’s had a net margin of 31.79% and a negative return on equity of 175.42%. The firm’s revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the firm earned $3.19 earnings per share. Analysts expect that McDonald’s Co. will post 11.77 EPS for the current year.

McDonald’s Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a $1.77 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $7.08 dividend on an annualized basis and a yield of 2.42%. This is an increase from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s dividend payout ratio (DPR) is presently 58.65%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on MCD shares. Wedbush reissued an “outperform” rating and issued a $295.00 target price on shares of McDonald’s in a report on Wednesday, October 23rd. BMO Capital Markets increased their target price on McDonald’s from $315.00 to $335.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Loop Capital reissued a “buy” rating on shares of McDonald’s in a report on Friday, October 18th. JPMorgan Chase & Co. increased their target price on McDonald’s from $270.00 to $290.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Finally, Wells Fargo & Company increased their target price on McDonald’s from $285.00 to $350.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Thirteen equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat.com, McDonald’s currently has a consensus rating of “Moderate Buy” and a consensus target price of $319.46.

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.