Cyndeo Wealth Partners LLC Grows Stock Position in McDonald’s Co. (NYSE:MCD)

Cyndeo Wealth Partners LLC increased its position in shares of McDonald’s Co. (NYSE:MCD) by 4.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 26,081 shares of the fast-food giant’s stock after purchasing an additional 1,200 shares during the quarter. Cyndeo Wealth Partners LLC’s holdings in McDonald’s were worth $7,942,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. Legal & General Group Plc lifted its stake in shares of McDonald’s by 3.2% in the second quarter. Legal & General Group Plc now owns 6,149,080 shares of the fast-food giant’s stock worth $1,567,030,000 after buying an additional 188,888 shares in the last quarter. Capital Research Global Investors lifted its stake in McDonald’s by 66.9% in the 1st quarter. Capital Research Global Investors now owns 5,471,007 shares of the fast-food giant’s stock worth $1,542,550,000 after purchasing an additional 2,193,769 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in McDonald’s by 8.0% in the 2nd 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 in the last quarter. Capital World Investors boosted its holdings in shares of McDonald’s by 39.7% during the 1st quarter. Capital World Investors now owns 3,565,398 shares of the fast-food giant’s stock worth $1,005,264,000 after purchasing an additional 1,012,534 shares during the last quarter. Finally, Fayez Sarofim & Co grew its position in shares of McDonald’s by 0.4% in the first quarter. Fayez Sarofim & Co now owns 2,273,354 shares of the fast-food giant’s stock valued at $640,972,000 after purchasing an additional 8,475 shares in the last quarter. 70.29% of the stock is owned by institutional investors and hedge funds.

McDonald’s Stock Up 0.6 %

Shares of MCD stock opened at $316.56 on Friday. McDonald’s Co. has a 52 week low of $243.53 and a 52 week high of $317.18. The firm has a 50 day moving average of $294.62 and a two-hundred day moving average of $273.70. The stock has a market capitalization of $228.14 billion, a PE ratio of 26.87, a P/E/G ratio of 4.05 and a beta of 0.73.

McDonald’s (NYSE:MCD) last released its earnings results on Monday, July 29th. The fast-food giant reported $2.97 EPS for the quarter, missing the consensus estimate of $3.07 by ($0.10). The company had revenue of $6.49 billion for the quarter, compared to analyst estimates of $6.62 billion. McDonald’s had a negative return on equity of 178.68% and a net margin of 32.25%. The company’s revenue for the quarter was down .1% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.17 earnings per share. Analysts expect that McDonald’s Co. will post 11.71 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. Investors of record on Monday, December 2nd will be issued a $1.77 dividend. This is a boost from McDonald’s’s previous quarterly dividend of $1.67. The ex-dividend date is Monday, December 2nd. This represents a $7.08 annualized dividend and a yield of 2.24%. McDonald’s’s dividend payout ratio (DPR) is 60.10%.

Analysts Set New Price Targets

A number of equities analysts recently commented on MCD shares. JPMorgan Chase & Co. lifted their price objective on McDonald’s from $270.00 to $290.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Tigress Financial lifted their price target on McDonald’s from $355.00 to $360.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of McDonald’s from $295.00 to $290.00 and set a “buy” rating for the company in a report on Tuesday, July 30th. KeyCorp lifted their target price on shares of McDonald’s from $305.00 to $330.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Finally, BMO Capital Markets decreased their target price on shares of McDonald’s from $330.00 to $315.00 and set an “outperform” rating on the stock in a report on Tuesday, July 30th. Ten investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $315.69.

Insider Buying and Selling

In other McDonald’s news, insider Joseph M. Erlinger sold 1,099 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $260.00, for a total value of $285,740.00. Following the sale, the insider now directly owns 13,681 shares of the company’s stock, valued at approximately $3,557,060. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, CMO Edith Morgan Flatley sold 2,346 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $310.00, for a total value of $727,260.00. Following the completion of the transaction, the chief marketing officer now directly owns 2,905 shares of the company’s stock, valued at $900,550. This represents a 0.00 % decrease in their ownership of the stock. The sale 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 that occurred on Tuesday, July 23rd. The stock was sold at an average price of $260.00, for a total transaction of $285,740.00. Following the sale, the insider now directly owns 13,681 shares in the company, valued at approximately $3,557,060. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 34,097 shares of company stock worth $10,221,233 over the last 90 days. 0.23% of the stock is owned by 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.