706 Shares in McDonald’s Co. (NYSE:MCD) Purchased by Fonville Wealth Management LLC

Fonville Wealth Management LLC purchased a new position in McDonald’s Co. (NYSE:MCD) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 706 shares of the fast-food giant’s stock, valued at approximately $215,000.

A number of other institutional investors have also recently bought and sold shares of the business. Van ECK Associates Corp lifted its holdings in shares of McDonald’s by 3.1% during the 1st quarter. Van ECK Associates Corp now owns 16,166 shares of the fast-food giant’s stock valued at $4,558,000 after buying an additional 484 shares during the last quarter. Fairhaven Wealth Management LLC lifted its holdings in shares of McDonald’s by 71.9% during the 1st quarter. Fairhaven Wealth Management LLC now owns 4,317 shares of the fast-food giant’s stock valued at $1,217,000 after buying an additional 1,806 shares during the last quarter. Cherry Tree Wealth Management LLC lifted its holdings in shares of McDonald’s by 7.8% during the 1st quarter. Cherry Tree Wealth Management LLC now owns 1,081 shares of the fast-food giant’s stock valued at $305,000 after buying an additional 78 shares during the last quarter. KFA Private Wealth Group LLC lifted its holdings in shares of McDonald’s by 4.4% during the 1st quarter. KFA Private Wealth Group LLC now owns 1,276 shares of the fast-food giant’s stock valued at $360,000 after buying an additional 54 shares during the last quarter. Finally, Resonant Capital Advisors LLC lifted its holdings in shares of McDonald’s by 2.1% during the 1st quarter. Resonant Capital Advisors LLC now owns 11,291 shares of the fast-food giant’s stock valued at $3,184,000 after buying an additional 234 shares during the last quarter. 70.29% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently issued reports on MCD. BMO Capital Markets lifted their price target on McDonald’s from $315.00 to $335.00 and gave the company an “outperform” rating in a report on Wednesday. UBS Group boosted their target price on McDonald’s from $305.00 to $345.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. The Goldman Sachs Group lifted their price target on McDonald’s from $284.00 to $325.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 24th. Bank of America lifted their price target on McDonald’s from $321.00 to $324.00 and gave the stock a “neutral” rating in a research report on Wednesday. Finally, Truist Financial dropped their price target on McDonald’s from $350.00 to $342.00 and set a “buy” rating on the stock in a research report on Wednesday. Thirteen analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $319.46.

McDonald’s Price Performance

Shares of MCD stock traded up $4.08 during trading hours on Friday, hitting $296.19. 1,020,076 shares of the company’s stock were exchanged, compared to its average volume of 3,516,358. The stock’s 50-day moving average is $298.25 and its 200-day moving average is $275.58. The stock has a market cap of $212.47 billion, a price-to-earnings ratio of 25.65, a price-to-earnings-growth ratio of 3.85 and a beta of 0.73. McDonald’s Co. has a 52 week low of $243.53 and a 52 week high of $317.90.

McDonald’s (NYSE:MCD) last posted its quarterly earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.18 by $0.05. The business had revenue of $6.87 billion for the quarter, compared to analysts’ expectations of $6.82 billion. McDonald’s had a negative return on equity of 178.99% and a net margin of 31.79%. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the business earned $3.19 earnings per share. Equities research analysts forecast that McDonald’s Co. will post 11.78 earnings per share for the current fiscal year.

McDonald’s Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a dividend of $1.77 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $7.08 dividend on an annualized basis and a yield of 2.39%. This is a boost from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s dividend payout ratio (DPR) is 58.65%.

Insiders Place Their Bets

In other McDonald’s news, EVP Marion K. Gross sold 1,498 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $286.36, for a total transaction of $428,967.28. Following the transaction, the executive vice president now owns 1,560 shares in the company, valued at approximately $446,721.60. This trade 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 accessible through the SEC website. In other news, EVP Marion K. Gross sold 1,498 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $286.36, for a total transaction of $428,967.28. Following the sale, the executive vice president now owns 1,560 shares of the company’s stock, valued at $446,721.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Joseph M. Erlinger sold 1,099 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $292.38, for a total value of $321,325.62. Following the sale, the insider now directly owns 10,385 shares in the company, valued at approximately $3,036,366.30. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 34,097 shares of company stock worth $10,256,818. 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.