McDonald’s Co. (NYSE:MCD) Stock Position Raised by Cassaday & Co Wealth Management LLC

Cassaday & Co Wealth Management LLC boosted its position in shares of McDonald’s Co. (NYSE:MCD) by 0.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 27,947 shares of the fast-food giant’s stock after purchasing an additional 200 shares during the period. McDonald’s accounts for 0.2% of Cassaday & Co Wealth Management LLC’s investment portfolio, making the stock its 27th biggest holding. Cassaday & Co Wealth Management LLC’s holdings in McDonald’s were worth $8,510,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in MCD. Kings Path Partners LLC acquired a new position in McDonald’s in the second quarter worth approximately $38,000. Hara Capital LLC acquired a new position in McDonald’s during the third quarter worth $44,000. Peterson Financial Group Inc. bought a new position in McDonald’s during the third quarter valued at about $58,000. Opal Wealth Advisors LLC bought a new stake in shares of McDonald’s during the 2nd quarter worth about $59,000. Finally, Bbjs Financial Advisors LLC bought a new stake in McDonald’s during the second quarter worth approximately $65,000. 70.29% of the stock is owned by institutional investors and hedge funds.

Insider Activity at McDonald’s

In other news, insider Joseph M. Erlinger sold 1,098 shares of the company’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 sale, the insider now owns 12,583 shares in the company, valued at $3,632,712.10. This represents a 8.03 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Marion K. Gross sold 1,499 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $294.51, for a total transaction of $441,470.49. Following the completion of the sale, the executive vice president now owns 1,560 shares of the company’s stock, valued at approximately $459,435.60. This represents a 49.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 35,596 shares of company stock valued at $10,698,289. 0.23% of the stock is owned by insiders.

McDonald’s Trading Down 2.0 %

Shares of McDonald’s stock opened at $292.63 on Monday. McDonald’s Co. has a 12 month low of $243.53 and a 12 month high of $317.90. The stock’s fifty day simple moving average is $300.06 and its 200 day simple moving average is $277.48. The company has a market capitalization of $209.70 billion, a PE ratio of 25.69, a PEG ratio of 3.89 and a beta of 0.74.

McDonald’s (NYSE:MCD) last posted its 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 business had revenue of $6.87 billion during the quarter, compared to analysts’ expectations of $6.82 billion. McDonald’s had a negative return on equity of 175.42% and a net margin of 31.79%. McDonald’s’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the prior year, the business earned $3.19 EPS. Analysts predict that McDonald’s Co. will post 11.77 EPS for the current fiscal year.

McDonald’s Increases Dividend

The company 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. This represents a $7.08 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date of this dividend is Monday, December 2nd. This is a boost from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s dividend payout ratio is 58.65%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on MCD. Bank of America upped their price target on shares of McDonald’s from $321.00 to $324.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Wedbush reissued an “outperform” rating and issued a $295.00 price target on shares of McDonald’s in a report on Wednesday, October 23rd. KeyCorp raised 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, Argus upgraded McDonald’s from a “hold” rating to a “buy” rating in a research report on Tuesday, October 8th. Thirteen investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $319.46.

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.