Ascent Group LLC Boosts Stake in McDonald’s Co. (NYSE:MCD)

Ascent Group LLC lifted its holdings in McDonald’s Co. (NYSE:MCD) by 4.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,901 shares of the fast-food giant’s stock after purchasing an additional 881 shares during the period. Ascent Group LLC’s holdings in McDonald’s were worth $5,836,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of MCD. Dixon Mitchell Investment Counsel Inc. acquired a new position in shares of McDonald’s during the 1st quarter worth about $28,000. Kings Path Partners LLC acquired a new position in shares of McDonald’s during the second quarter valued at approximately $38,000. Accent Capital Management LLC purchased a new position in shares of McDonald’s in the fourth quarter valued at approximately $44,000. Transcendent Capital Group LLC acquired a new stake in shares of McDonald’s in the fourth quarter worth approximately $45,000. Finally, Keener Financial Planning LLC increased 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 worth $50,000 after purchasing an additional 43 shares in the last quarter. Institutional investors and hedge funds own 70.29% of the company’s stock.

Insider Buying and Selling

In other McDonald’s news, EVP Marion K. Gross sold 1,498 shares of the firm’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $248.26, for a total value of $371,893.48. Following the completion of the transaction, the executive vice president now owns 1,560 shares of the company’s stock, valued at approximately $387,285.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other McDonald’s news, CEO Christopher J. Kempczinski sold 11,727 shares of the company’s stock in a transaction dated Monday, September 23rd. The stock was 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 in the company, valued at approximately $14,966,996.55. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Marion K. Gross sold 1,498 shares of McDonald’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $248.26, for a total value of $371,893.48. Following the completion of the transaction, the executive vice president now owns 1,560 shares of the company’s stock, valued at approximately $387,285.60. The disclosure for this sale can be found here. Insiders have sold a total of 33,249 shares of company stock valued at $9,865,866 in the last ninety days. Company insiders own 0.23% of the company’s stock.

McDonald’s Stock Performance

NYSE:MCD opened at $303.69 on Friday. McDonald’s Co. has a fifty-two week low of $243.53 and a fifty-two week high of $306.96. The company has a 50 day moving average price of $281.71 and a 200 day moving average price of $271.02. The stock has a market capitalization of $218.86 billion, a P/E ratio of 25.78, a PEG ratio of 3.99 and a beta of 0.72.

McDonald’s (NYSE:MCD) last posted 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 for the quarter, compared to analyst estimates of $6.62 billion. McDonald’s had a negative return on equity of 178.68% and a net margin of 32.25%. McDonald’s’s revenue was down .1% on a year-over-year basis. During the same period in the previous year, the company posted $3.17 EPS. Research analysts forecast that McDonald’s Co. will post 11.69 earnings per share for the current fiscal year.

McDonald’s Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued 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 dividend yield of 2.33%. This is a boost from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s payout ratio is 56.71%.

Wall Street Analyst Weigh In

MCD has been the topic of a number of research reports. Morgan Stanley decreased their price objective on McDonald’s from $312.00 to $300.00 and set an “overweight” rating on the stock in a report on Thursday, July 11th. Jefferies Financial Group raised their price target on shares of McDonald’s from $310.00 to $330.00 and gave the stock a “buy” rating in a research note on Monday, September 9th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of McDonald’s from $295.00 to $290.00 and set a “buy” rating on the stock in a research report on Tuesday, July 30th. Tigress Financial increased their price objective on shares of McDonald’s from $355.00 to $360.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Finally, Citigroup boosted their target price on McDonald’s from $275.00 to $301.00 and gave the stock a “neutral” rating in a report on Friday, September 13th. Eleven analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $308.22.

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.