Turtle Creek Wealth Advisors LLC Grows Position in McDonald’s Co. (NYSE:MCD)

Turtle Creek Wealth Advisors LLC raised its holdings in shares of McDonald’s Co. (NYSE:MCD) by 2.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,743 shares of the fast-food giant’s stock after purchasing an additional 478 shares during the quarter. Turtle Creek Wealth Advisors LLC’s holdings in McDonald’s were worth $5,403,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. Kings Path Partners LLC bought a new stake in shares of McDonald’s during the second quarter valued at about $38,000. Hara Capital LLC bought a new stake in shares of McDonald’s during the third quarter valued at about $44,000. Opal Wealth Advisors LLC bought a new stake in shares of McDonald’s during the second quarter valued at about $59,000. Bbjs Financial Advisors LLC bought a new stake in shares of McDonald’s during the second quarter valued at about $65,000. Finally, Macroview Investment Management LLC increased its position in shares of McDonald’s by 433.3% during the second quarter. Macroview Investment Management LLC now owns 256 shares of the fast-food giant’s stock valued at $65,000 after buying an additional 208 shares during the period. 70.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MCD has been the topic of several research analyst reports. TD Cowen restated a “hold” rating and issued a $300.00 price objective on shares of McDonald’s in a research report on Tuesday, October 29th. Jefferies Financial Group upped their price objective on shares of McDonald’s from $310.00 to $330.00 and gave the stock a “buy” rating in a research report on Monday, September 9th. Loop Capital restated a “buy” rating on shares of McDonald’s in a research report on Friday, October 18th. Wedbush restated an “outperform” rating and issued a $295.00 price objective on shares of McDonald’s in a research report on Wednesday, October 23rd. Finally, BMO Capital Markets upped their price objective on shares of McDonald’s from $315.00 to $335.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Thirteen analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $319.46.

Insiders Place Their Bets

In other news, EVP Marion K. Gross sold 1,499 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $294.51, for a total transaction of $441,470.49. Following the completion of the transaction, the executive vice president now directly owns 1,560 shares in the company, valued at approximately $459,435.60. This represents a 49.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Christopher J. Kempczinski sold 11,727 shares of the 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 transaction, the chief executive officer now owns 49,885 shares of the company’s stock, valued at $14,966,996.55. This represents a 19.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 35,596 shares of company stock worth $10,698,289 in the last three months. 0.23% of the stock is owned by company insiders.

McDonald’s Stock Down 2.0 %

MCD stock traded down $5.93 during midday trading on Friday, hitting $292.63. The company’s stock had a trading volume of 4,039,432 shares, compared to its average volume of 3,509,453. McDonald’s Co. has a 12 month low of $243.53 and a 12 month high of $317.90. The firm has a market capitalization of $209.70 billion, a price-to-earnings ratio of 25.68, a price-to-earnings-growth ratio of 3.95 and a beta of 0.74. The company has a 50 day moving average of $300.06 and a two-hundred day moving average of $277.42.

McDonald’s (NYSE:MCD) last posted its quarterly earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share for the quarter, topping the consensus estimate of $3.18 by $0.05. McDonald’s had a negative return on equity of 175.42% and a net margin of 31.79%. The business had revenue of $6.87 billion during the quarter, compared to the consensus estimate of $6.82 billion. During the same period in the prior year, the company posted $3.19 EPS. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. On average, analysts anticipate that McDonald’s Co. will post 11.77 earnings per share 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 paid a $1.77 dividend. This represents a $7.08 annualized dividend and a yield of 2.42%. This is an increase from McDonald’s’s previous quarterly dividend of $1.67. The ex-dividend date of this dividend is Monday, December 2nd. McDonald’s’s dividend payout ratio is presently 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.