Meeder Advisory Services Inc. Boosts Stake in McDonald’s Co. (NYSE:MCD)

Meeder Advisory Services Inc. raised its position in McDonald’s Co. (NYSE:MCD) by 6.5% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 17,395 shares of the fast-food giant’s stock after buying an additional 1,056 shares during the period. Meeder Advisory Services Inc.’s holdings in McDonald’s were worth $5,297,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Hara Capital LLC purchased a new stake in McDonald’s in the 3rd quarter valued at about $44,000. Kings Path Partners LLC purchased a new stake in McDonald’s in the 2nd quarter valued at about $38,000. Peterson Financial Group Inc. purchased a new stake in shares of McDonald’s during the 3rd quarter worth approximately $58,000. Opal Wealth Advisors LLC purchased a new stake in shares of McDonald’s during the 2nd quarter worth approximately $59,000. Finally, Bbjs Financial Advisors LLC purchased a new stake in shares of McDonald’s during the 2nd quarter worth approximately $65,000. Hedge funds and other institutional investors own 70.29% of the company’s stock.

McDonald’s Price Performance

MCD stock opened at $292.98 on Monday. The company has a market capitalization of $209.96 billion, a PE ratio of 25.69, a P/E/G ratio of 3.89 and a beta of 0.74. McDonald’s Co. has a 12 month low of $243.53 and a 12 month high of $317.90. The firm’s 50-day moving average is $300.06 and its 200 day moving average is $277.48.

McDonald’s (NYSE:MCD) last posted its quarterly earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 EPS for the quarter, topping the consensus estimate of $3.18 by $0.05. McDonald’s had a net margin of 31.79% and a negative return on equity of 175.42%. The company had revenue of $6.87 billion for the quarter, compared to the consensus estimate of $6.82 billion. During the same quarter last year, the firm posted $3.19 EPS. The firm’s revenue was up 2.7% compared to the same quarter last year. Sell-side analysts forecast that McDonald’s Co. will post 11.77 EPS for the current fiscal year.

McDonald’s Increases Dividend

The company 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 $1.77 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.42%. This is an increase from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s payout ratio is presently 58.65%.

Insider Transactions at McDonald’s

In related news, CEO Christopher J. Kempczinski sold 11,727 shares of McDonald’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 value of $3,518,451.81. Following the completion of the sale, the chief executive officer now directly owns 49,885 shares in the company, valued at $14,966,996.55. This trade represents a 19.03 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Marion K. Gross sold 1,498 shares of McDonald’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $286.36, for a total transaction of $428,967.28. Following the completion of 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 48.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 35,596 shares of company stock valued at $10,698,289 in the last 90 days. Insiders own 0.23% of the company’s stock.

Analysts Set New Price Targets

MCD has been the subject of several research analyst reports. Stifel Nicolaus decreased their price target on shares of McDonald’s from $285.00 to $265.00 and set a “hold” rating for the company in a research note on Monday, July 22nd. Guggenheim lowered shares of McDonald’s from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $290.00 to $285.00 in a research note on Wednesday, October 23rd. Morgan Stanley lifted their price objective on shares of McDonald’s from $296.00 to $340.00 and gave the company an “overweight” rating in a research note on Tuesday, October 15th. Loop Capital reaffirmed a “buy” rating on shares of McDonald’s in a report on Friday, October 18th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of McDonald’s from $270.00 to $290.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. Thirteen equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat, McDonald’s presently has an average rating of “Moderate Buy” and an average price target of $319.46.

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.