Concord Wealth Partners Purchases 65 Shares of McDonald’s Co. (NYSE:MCD)

Concord Wealth Partners increased its position in McDonald’s Co. (NYSE:MCD) by 0.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,446 shares of the fast-food giant’s stock after buying an additional 65 shares during the period. Concord Wealth Partners’ holdings in McDonald’s were worth $2,572,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in MCD. Yeomans Consulting Group Inc. bought a new stake in shares of McDonald’s in the 3rd quarter worth about $204,000. Investment Partners Asset Management Inc. grew its position in McDonald’s by 3.0% in the third quarter. Investment Partners Asset Management Inc. now owns 1,500 shares of the fast-food giant’s stock worth $457,000 after acquiring an additional 44 shares in the last quarter. Asahi Life Asset Management CO. LTD. increased its stake in McDonald’s by 10.7% during the third quarter. Asahi Life Asset Management CO. LTD. now owns 9,678 shares of the fast-food giant’s stock worth $2,947,000 after acquiring an additional 938 shares during the last quarter. Forbes J M & Co. LLP raised its position in McDonald’s by 1.7% during the third quarter. Forbes J M & Co. LLP now owns 7,899 shares of the fast-food giant’s stock valued at $2,405,000 after purchasing an additional 129 shares during the period. Finally, Welch Group LLC lifted its stake in shares of McDonald’s by 2.4% in the 3rd quarter. Welch Group LLC now owns 196,657 shares of the fast-food giant’s stock valued at $59,884,000 after purchasing an additional 4,558 shares during the last quarter. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Analyst Ratings Changes

MCD has been the topic of several recent research reports. Evercore ISI increased their price target on McDonald’s from $320.00 to $340.00 and gave the company an “outperform” rating in a report on Tuesday, October 15th. Wedbush reiterated an “outperform” rating and set a $295.00 price target on shares of McDonald’s in a report on Wednesday, October 23rd. UBS Group raised their price objective on shares of McDonald’s from $305.00 to $345.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. JPMorgan Chase & Co. upped their target price on McDonald’s from $270.00 to $290.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Finally, Stifel Nicolaus reduced their price target on McDonald’s from $285.00 to $265.00 and set a “hold” rating on the stock in a report on Monday, July 22nd. Thirteen analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $318.22.

McDonald’s Stock Performance

NYSE:MCD traded up $4.99 during mid-day trading on Monday, hitting $297.60. 2,717,781 shares of the company’s stock traded hands, compared to its average volume of 3,472,402. The company has a fifty day moving average of $297.78 and a 200 day moving average of $274.96. McDonald’s Co. has a twelve month low of $243.53 and a twelve month high of $317.90. The company has a market capitalization of $214.47 billion, a P/E ratio of 24.84, a P/E/G ratio of 4.13 and a beta of 0.73.

McDonald’s (NYSE:MCD) last released its earnings results on Monday, July 29th. The fast-food giant reported $2.97 EPS for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.10). McDonald’s had a negative return on equity of 178.68% and a net margin of 32.25%. The company had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.62 billion. During the same quarter last year, the business earned $3.17 earnings per share. The firm’s revenue for the quarter was down .1% on a year-over-year basis. On average, research analysts expect that McDonald’s Co. will post 11.73 earnings per share for the current fiscal year.

McDonald’s Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a dividend of $1.77 per share. The ex-dividend date is Monday, December 2nd. This is a positive change from McDonald’s’s previous quarterly dividend of $1.67. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.38%. McDonald’s’s payout ratio is 60.10%.

Insider Activity at McDonald’s

In other McDonald’s news, CMO Edith Morgan Flatley sold 2,346 shares of the business’s stock in a transaction dated Monday, October 14th. The stock was 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 in the company, valued at approximately $900,550. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CMO Edith Morgan Flatley sold 2,346 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $310.00, for a total value of $727,260.00. Following the sale, the chief marketing officer now owns 2,905 shares in the company, valued at $900,550. 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 available at this hyperlink. Also, CEO Christopher J. Kempczinski sold 11,727 shares of McDonald’s stock in a transaction that occurred on 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 sale, the chief executive officer now owns 49,885 shares of the company’s stock, valued at approximately $14,966,996.55. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 34,097 shares of company stock valued at $10,256,818 in the last ninety days. Company insiders own 0.23% of the company’s stock.

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.