Exchange Traded Concepts LLC Increases Position in McDonald’s Co. (NYSE:MCD)

Exchange Traded Concepts LLC boosted its holdings in shares of McDonald’s Co. (NYSE:MCD) by 1.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,513 shares of the fast-food giant’s stock after acquiring an additional 42 shares during the period. Exchange Traded Concepts LLC’s holdings in McDonald’s were worth $765,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Dixon Mitchell Investment Counsel Inc. purchased a new stake in McDonald’s during the 1st quarter valued at about $28,000. Kings Path Partners LLC purchased a new stake in shares of McDonald’s in the 2nd quarter valued at approximately $38,000. Keener Financial Planning LLC grew its stake in shares of McDonald’s by 32.3% in the 1st quarter. Keener Financial Planning LLC now owns 176 shares of the fast-food giant’s stock valued at $50,000 after buying an additional 43 shares during the period. Opal Wealth Advisors LLC purchased a new stake in shares of McDonald’s in the 2nd quarter valued at approximately $59,000. Finally, Redmont Wealth Advisors LLC purchased a new stake in shares of McDonald’s in the 1st quarter valued at approximately $69,000. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Insider Buying and Selling at McDonald’s

In other McDonald’s news, insider Joseph M. Erlinger sold 1,098 shares of McDonald’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $288.70, for a total value of $316,992.60. Following the transaction, the insider now directly owns 12,583 shares in the company, valued at approximately $3,632,712.10. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other McDonald’s news, CMO Edith Morgan Flatley sold 2,346 shares of McDonald’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $310.00, for a total value of $727,260.00. Following the transaction, the chief marketing officer now directly owns 2,905 shares in the company, valued at approximately $900,550. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Joseph M. Erlinger sold 1,098 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $288.70, for a total transaction of $316,992.60. Following the transaction, the insider now owns 12,583 shares in the company, valued at approximately $3,632,712.10. 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 three months, insiders have sold 34,097 shares of company stock worth $10,221,233. 0.23% of the stock is owned by company insiders.

McDonald’s Price Performance

Shares of NYSE:MCD opened at $316.53 on Friday. The company’s fifty day moving average price is $294.62 and its 200 day moving average price is $273.73. McDonald’s Co. has a 12 month low of $243.53 and a 12 month high of $317.18. The firm has a market capitalization of $228.12 billion, a P/E ratio of 26.87, a P/E/G ratio of 4.05 and a beta of 0.73.

McDonald’s (NYSE:MCD) last announced its quarterly earnings results on Monday, July 29th. The fast-food giant reported $2.97 EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $6.62 billion. During the same quarter in the prior year, the business earned $3.17 earnings per share. McDonald’s’s revenue was down .1% compared to the same quarter last year. On average, sell-side analysts anticipate that McDonald’s Co. will post 11.71 EPS for the current year.

McDonald’s Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a $1.77 dividend. The ex-dividend date of this dividend 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 yield of 2.24%. McDonald’s’s payout ratio is currently 60.10%.

Analysts Set New Price Targets

Several analysts have recently weighed in on MCD shares. The Goldman Sachs Group increased their price target on shares of McDonald’s from $284.00 to $325.00 and gave the company a “neutral” rating in a research note on Tuesday, September 24th. TD Cowen increased their price target on shares of McDonald’s from $280.00 to $300.00 and gave the company a “hold” rating in a research note on Wednesday. Guggenheim increased their price target on shares of McDonald’s from $280.00 to $290.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Bank of America lowered their price objective on shares of McDonald’s from $288.00 to $278.00 and set a “neutral” rating for the company in a research report on Tuesday, July 30th. Finally, BMO Capital Markets lowered their price objective on shares of McDonald’s from $330.00 to $315.00 and set an “outperform” rating for the company in a research report on Tuesday, July 30th. Ten investment analysts have rated the stock with a hold rating and twenty have assigned 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 price target of $315.69.

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.