Assetmark Inc. Raises Position in McDonald’s Co. (NYSE:MCD)

Assetmark Inc. lifted its stake in shares of McDonald’s Co. (NYSE:MCD) by 28.1% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 54,070 shares of the fast-food giant’s stock after acquiring an additional 11,867 shares during the period. Assetmark Inc.’s holdings in McDonald’s were worth $16,465,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Steigerwald Gordon & Koch Inc. increased its holdings in shares of McDonald’s by 2.4% in the 3rd quarter. Steigerwald Gordon & Koch Inc. now owns 1,422 shares of the fast-food giant’s stock valued at $433,000 after acquiring an additional 33 shares during the last quarter. Riversedge Advisors LLC boosted its holdings in McDonald’s by 2.0% in the third quarter. Riversedge Advisors LLC now owns 1,686 shares of the fast-food giant’s stock worth $513,000 after purchasing an additional 33 shares during the period. Proquility Private Wealth Partners LLC increased its stake in McDonald’s by 1.0% during the third quarter. Proquility Private Wealth Partners LLC now owns 3,472 shares of the fast-food giant’s stock valued at $1,057,000 after purchasing an additional 35 shares during the last quarter. Clear Creek Financial Management LLC raised its holdings in shares of McDonald’s by 2.8% during the third quarter. Clear Creek Financial Management LLC now owns 1,300 shares of the fast-food giant’s stock worth $396,000 after purchasing an additional 35 shares during the period. Finally, Founders Financial Alliance LLC lifted its position in shares of McDonald’s by 0.7% in the 2nd quarter. Founders Financial Alliance LLC now owns 4,980 shares of the fast-food giant’s stock worth $1,269,000 after buying an additional 36 shares during the last quarter. 70.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MCD has been the topic of a number of recent research reports. Jefferies Financial Group raised their target price on shares of McDonald’s from $310.00 to $330.00 and gave the stock a “buy” rating in a report on Monday, September 9th. Evercore ISI raised their price target on McDonald’s from $320.00 to $340.00 and gave the stock an “outperform” rating in a report on Tuesday, October 15th. KeyCorp increased their target price on McDonald’s from $305.00 to $330.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. TD Cowen reissued a “hold” rating and set a $300.00 price target on shares of McDonald’s in a report on Tuesday, October 29th. Finally, Citigroup increased their price objective on shares of McDonald’s from $301.00 to $317.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Thirteen research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $319.46.

Insider Transactions at McDonald’s

In other news, CEO Christopher J. Kempczinski sold 11,727 shares of the business’s stock in a transaction on 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 directly owns 49,885 shares of the company’s stock, valued at $14,966,996.55. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO Christopher J. Kempczinski sold 11,727 shares of the business’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 in the company, valued at $14,966,996.55. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Joseph M. Erlinger sold 1,098 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $288.70, for a total transaction of $316,992.60. Following the completion of the transaction, the insider now directly owns 12,583 shares of the company’s stock, valued at $3,632,712.10. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 35,596 shares of company stock valued at $10,698,289 in the last three months. 0.23% of the stock is currently owned by corporate insiders.

McDonald’s Trading Up 1.5 %

Shares of NYSE MCD opened at $298.97 on Monday. The firm has a 50-day moving average of $299.08 and a two-hundred day moving average of $276.64. The company has a market capitalization of $214.46 billion, a price-to-earnings ratio of 26.25, a PEG ratio of 3.98 and a beta of 0.74. McDonald’s Co. has a twelve month low of $243.53 and a twelve month high of $317.90.

McDonald’s (NYSE:MCD) last released its earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 EPS for the quarter, beating the consensus estimate of $3.18 by $0.05. The business had revenue of $6.87 billion during the quarter, compared to analyst estimates of $6.82 billion. McDonald’s had a net margin of 31.79% and a negative return on equity of 178.99%. The business’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the business earned $3.19 earnings per share. As a group, research analysts predict that McDonald’s Co. will post 11.77 earnings per share for the current 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 given a dividend of $1.77 per share. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date is Monday, December 2nd. This is an increase from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s dividend payout ratio is 58.65%.

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.