Fort Pitt Capital Group LLC Purchases 208 Shares of McDonald’s Co. (NYSE:MCD)

Fort Pitt Capital Group LLC raised its position in shares of McDonald’s Co. (NYSE:MCD) by 17.3% in the third quarter, HoldingsChannel reports. The firm owned 1,410 shares of the fast-food giant’s stock after acquiring an additional 208 shares during the period. Fort Pitt Capital Group LLC’s holdings in McDonald’s were worth $429,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Kings Path Partners LLC bought a new stake in McDonald’s during the 2nd quarter valued at $38,000. Keener Financial Planning LLC raised its position 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 worth $50,000 after acquiring an additional 43 shares in the last quarter. Opal Wealth Advisors LLC bought a new position in shares of McDonald’s in the 2nd quarter worth $59,000. Bbjs Financial Advisors LLC bought a new position in shares of McDonald’s in the 2nd quarter worth $65,000. Finally, Macroview Investment Management LLC raised its position in shares of McDonald’s by 433.3% in the 2nd quarter. Macroview Investment Management LLC now owns 256 shares of the fast-food giant’s stock worth $65,000 after acquiring an additional 208 shares in the last quarter. 70.29% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other McDonald’s news, insider Joseph M. Erlinger sold 1,098 shares of the 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 transaction, the insider now owns 12,583 shares in the company, valued at approximately $3,632,712.10. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other McDonald’s news, insider Joseph M. Erlinger sold 1,099 shares of the 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 completion of the transaction, the insider now owns 10,385 shares of the company’s stock, valued at $3,036,366.30. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Joseph M. Erlinger sold 1,098 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at $3,632,712.10. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 34,097 shares of company stock worth $10,256,818. 0.23% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. The Goldman Sachs Group upped their target price on McDonald’s from $284.00 to $325.00 and gave the company a “neutral” rating in a research report on Tuesday, September 24th. Deutsche Bank Aktiengesellschaft reduced their target price on McDonald’s from $295.00 to $290.00 and set a “buy” rating on the stock in a research report on Tuesday, July 30th. Bank of America upped their target price on McDonald’s from $321.00 to $324.00 and gave the company a “neutral” rating in a research report on Wednesday. Wedbush reaffirmed an “outperform” rating and set a $295.00 target price on shares of McDonald’s in a research report on Wednesday, October 23rd. Finally, Wells Fargo & Company upped their target price on McDonald’s from $285.00 to $350.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. Thirteen equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat.com, McDonald’s has an average rating of “Moderate Buy” and an average target price of $319.46.

McDonald’s Stock Up 1.1 %

Shares of MCD opened at $295.21 on Friday. The company has a market capitalization of $211.77 billion, a price-to-earnings ratio of 25.92, a PEG ratio of 3.88 and a beta of 0.74. The stock’s 50-day moving average price is $298.36 and its 200-day moving average price is $275.86. McDonald’s Co. has a 52 week low of $243.53 and a 52 week high of $317.90.

McDonald’s (NYSE:MCD) last issued its quarterly earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.18 by $0.05. The company had revenue of $6.87 billion for the quarter, compared to the consensus estimate of $6.82 billion. McDonald’s had a negative return on equity of 178.99% and a net margin of 31.79%. McDonald’s’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.19 earnings per share. As a group, equities analysts anticipate that McDonald’s Co. will post 11.77 EPS for the current fiscal year.

McDonald’s Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given 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 2.40%. This is an increase from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s dividend payout ratio is currently 58.65%.

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.