Triton Wealth Management PLLC Acquires New Position in McDonald’s Co. (NYSE:MCD)

Triton Wealth Management PLLC bought a new position in McDonald’s Co. (NYSE:MCD) during the third quarter, according to its most recent Form 13F filing with the SEC. The firm bought 720 shares of the fast-food giant’s stock, valued at approximately $219,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Hantz Financial Services Inc. purchased a new position in McDonald’s during the second quarter worth approximately $6,612,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in shares of McDonald’s by 58.9% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 138,102 shares of the fast-food giant’s stock valued at $35,194,000 after purchasing an additional 51,210 shares during the period. Brevan Howard Capital Management LP increased its position in McDonald’s by 411.4% during the fourth quarter. Brevan Howard Capital Management LP now owns 7,497 shares of the fast-food giant’s stock worth $2,223,000 after purchasing an additional 6,031 shares during the last quarter. BNP Paribas purchased a new position in McDonald’s during the first quarter worth about $7,898,000. Finally, First Long Island Investors LLC grew its position in McDonald’s by 16.6% in the first quarter. First Long Island Investors LLC now owns 54,021 shares of the fast-food giant’s stock worth $15,231,000 after acquiring an additional 7,707 shares during the period. 70.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have weighed in on MCD. Citigroup lifted their price target on shares of McDonald’s from $301.00 to $317.00 and gave the company a “neutral” rating in a research report on Wednesday. Bank of America reduced their target price 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. Evercore ISI raised their price objective on shares of McDonald’s from $300.00 to $320.00 and gave the company an “outperform” rating in a report on Monday, August 19th. Guggenheim raised their price objective on shares of McDonald’s from $280.00 to $290.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Finally, KeyCorp reduced their price objective on shares of McDonald’s from $310.00 to $305.00 and set an “overweight” rating on the stock in a report on Tuesday, July 30th. Eleven research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $309.15.

McDonald’s Trading Up 0.1 %

MCD traded up $0.31 during trading on Friday, hitting $303.76. 2,432,634 shares of the company’s stock were exchanged, compared to its average volume of 3,415,004. McDonald’s Co. has a 1 year low of $243.53 and a 1 year high of $306.96. The stock has a 50 day moving average price of $286.67 and a 200 day moving average price of $271.88. The firm has a market cap of $218.91 billion, a P/E ratio of 25.79, a price-to-earnings-growth ratio of 3.99 and a beta of 0.73.

McDonald’s (NYSE:MCD) last announced its earnings results on Monday, July 29th. The fast-food giant reported $2.97 earnings per share (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 business had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.62 billion. During the same period in the previous year, the firm posted $3.17 earnings per share. The firm’s revenue was down .1% compared to the same quarter last year. 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 announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a dividend of $1.77 per share. This is a boost from McDonald’s’s previous quarterly dividend of $1.67. This represents a $7.08 annualized dividend and a dividend yield of 2.33%. The ex-dividend date is Monday, December 2nd. McDonald’s’s dividend payout ratio is 60.10%.

Insider Transactions at McDonald’s

In other McDonald’s news, EVP Marion K. Gross sold 1,498 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $286.36, for a total transaction of $428,967.28. Following the transaction, the executive vice president now directly owns 1,560 shares in the company, valued at $446,721.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, EVP Marion K. Gross sold 1,498 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $286.36, for a total value 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 represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Christopher J. Kempczinski sold 11,727 shares of McDonald’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $300.03, for a total value of $3,518,451.81. Following the completion of the transaction, the chief executive officer now owns 49,885 shares of the company’s stock, valued at $14,966,996.55. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 31,751 shares of company stock valued at $9,493,973. 0.23% of the stock is currently owned by corporate insiders.

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.