Absher Wealth Management LLC Raises Stock Position in McDonald’s Co. (NYSE:MCD)

Absher Wealth Management LLC grew its holdings in McDonald’s Co. (NYSE:MCD) by 3.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 76,365 shares of the fast-food giant’s stock after acquiring an additional 2,708 shares during the period. McDonald’s comprises about 3.0% of Absher Wealth Management LLC’s investment portfolio, making the stock its 19th biggest position. Absher Wealth Management LLC’s holdings in McDonald’s were worth $23,254,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Legal & General Group Plc grew its stake in McDonald’s by 3.2% during the second quarter. Legal & General Group Plc now owns 6,149,080 shares of the fast-food giant’s stock valued at $1,567,030,000 after acquiring an additional 188,888 shares in the last quarter. Capital Research Global Investors grew its position in shares of McDonald’s by 66.9% during the first quarter. Capital Research Global Investors now owns 5,471,007 shares of the fast-food giant’s stock valued at $1,542,550,000 after purchasing an additional 2,193,769 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in shares of McDonald’s by 8.0% in the second quarter. Ameriprise Financial Inc. now owns 4,761,625 shares of the fast-food giant’s stock worth $1,216,677,000 after purchasing an additional 354,196 shares during the last quarter. Capital World Investors lifted its position in shares of McDonald’s by 39.7% in the first quarter. Capital World Investors now owns 3,565,398 shares of the fast-food giant’s stock worth $1,005,264,000 after buying an additional 1,012,534 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its stake in McDonald’s by 31,151.1% during the third quarter. International Assets Investment Management LLC now owns 2,319,142 shares of the fast-food giant’s stock valued at $706,202,000 after buying an additional 2,311,721 shares during the last quarter. Institutional investors own 70.29% of the company’s stock.

McDonald’s Stock Performance

Shares of NYSE:MCD traded up $4.36 during midday trading on Friday, reaching $296.47. 683,323 shares of the company’s stock traded hands, compared to its average volume of 3,513,674. The company has a market cap of $212.67 billion, a P/E ratio of 25.65, a PEG ratio of 3.85 and a beta of 0.73. The company has a fifty day simple moving average of $298.25 and a two-hundred day simple moving average of $275.58. McDonald’s Co. has a 1 year low of $243.53 and a 1 year high of $317.90.

McDonald’s (NYSE:MCD) last posted its quarterly earnings data on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.18 by $0.05. McDonald’s had a negative return on equity of 178.99% and a net margin of 31.79%. The company had revenue of $6.87 billion for the quarter, compared to analysts’ expectations of $6.82 billion. During the same period in the previous year, the firm posted $3.19 EPS. McDonald’s’s revenue was up 2.7% compared to the same quarter last year. As a group, research analysts forecast that McDonald’s Co. will post 11.78 EPS 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. Shareholders of record on Monday, December 2nd will be paid a dividend of $1.77 per share. This represents a $7.08 annualized dividend and a yield of 2.39%. The ex-dividend date is Monday, December 2nd. This is a boost from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s payout ratio is 58.65%.

Wall Street Analysts Forecast Growth

MCD has been the topic of several recent research reports. Jefferies Financial Group upped their price objective on McDonald’s from $310.00 to $330.00 and gave the stock a “buy” rating in a report on Monday, September 9th. JPMorgan Chase & Co. increased their price objective on shares of McDonald’s from $270.00 to $290.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. BMO Capital Markets boosted their target price on shares of McDonald’s from $315.00 to $335.00 and gave the stock an “outperform” rating in a report on Wednesday. Robert W. Baird cut shares of McDonald’s from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $320.00 to $290.00 in a research report on Wednesday, October 23rd. Finally, TD Cowen reiterated a “hold” rating and issued a $300.00 price target on shares of McDonald’s in a research report on Tuesday. Thirteen analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat, McDonald’s presently has an average rating of “Moderate Buy” and an average target price of $319.46.

Insider Transactions at McDonald’s

In other news, insider Joseph M. Erlinger sold 1,099 shares of the business’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $292.38, for a total transaction of $321,325.62. Following the transaction, the insider now directly owns 10,385 shares in the company, valued at $3,036,366.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other McDonald’s news, insider Joseph M. Erlinger sold 1,099 shares of the firm’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $292.38, for a total value of $321,325.62. Following the completion of the sale, the insider now directly owns 10,385 shares of the company’s stock, valued at $3,036,366.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Marion K. Gross sold 1,498 shares of McDonald’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 directly owns 1,560 shares in the company, valued at $446,721.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,097 shares of company stock valued at $10,256,818 over the last 90 days. 0.23% of the stock is currently owned by corporate insiders.

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.