McDonald’s Co. (NYSE:MCD) Shares Bought by Concorde Asset Management LLC

Concorde Asset Management LLC lifted its holdings in McDonald’s Co. (NYSE:MCD) by 28.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,570 shares of the fast-food giant’s stock after buying an additional 346 shares during the period. Concorde Asset Management LLC’s holdings in McDonald’s were worth $478,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Steigerwald Gordon & Koch Inc. boosted its position in shares of McDonald’s by 2.4% in the third quarter. Steigerwald Gordon & Koch Inc. now owns 1,422 shares of the fast-food giant’s stock worth $433,000 after buying an additional 33 shares during the period. Riversedge Advisors LLC boosted its position in shares of McDonald’s by 2.0% in the third quarter. Riversedge Advisors LLC now owns 1,686 shares of the fast-food giant’s stock worth $513,000 after buying an additional 33 shares during the period. Proquility Private Wealth Partners LLC boosted its position in shares of McDonald’s by 1.0% in the third quarter. Proquility Private Wealth Partners LLC now owns 3,472 shares of the fast-food giant’s stock worth $1,057,000 after buying an additional 35 shares during the period. Clear Creek Financial Management LLC boosted its position in McDonald’s by 2.8% during the third quarter. Clear Creek Financial Management LLC now owns 1,300 shares of the fast-food giant’s stock valued at $396,000 after purchasing an additional 35 shares during the last quarter. Finally, GDS Wealth Management boosted its position in McDonald’s by 1.4% during the third quarter. GDS Wealth Management now owns 2,504 shares of the fast-food giant’s stock valued at $762,000 after purchasing an additional 35 shares during the last quarter. Institutional investors and hedge funds own 70.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on MCD. JPMorgan Chase & Co. lifted their price objective on McDonald’s from $270.00 to $290.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Morgan Stanley lifted their price objective on McDonald’s from $296.00 to $340.00 and gave the company an “overweight” rating in a research report on Tuesday, October 15th. TD Cowen reissued a “hold” rating and set a $300.00 price objective on shares of McDonald’s in a research report on Tuesday, October 29th. Bank of America boosted their price target on McDonald’s from $321.00 to $324.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Finally, Tigress Financial boosted their price target on McDonald’s from $355.00 to $360.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Thirteen analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $319.46.

Insider Transactions at McDonald’s

In other McDonald’s news, EVP Marion K. Gross sold 1,498 shares of the company’s stock in a transaction 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 transaction, the executive vice president now owns 1,560 shares of the company’s stock, valued at approximately $446,721.60. This represents a 48.99 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Ian Frederick Borden sold 5,939 shares of the company’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $300.04, for a total value of $1,781,937.56. Following the transaction, the chief financial officer now directly owns 20,403 shares in the company, valued at approximately $6,121,716.12. This represents a 22.55 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 34,498 shares of company stock valued at $10,381,296 in the last three months. 0.23% of the stock is owned by corporate insiders.

McDonald’s Trading Down 0.9 %

NYSE MCD opened at $288.32 on Friday. The stock’s 50 day moving average is $299.98 and its two-hundred day moving average is $277.91. The company has a market capitalization of $206.61 billion, a price-to-earnings ratio of 25.31, a PEG ratio of 3.87 and a beta of 0.74. McDonald’s Co. has a 1-year low of $243.53 and a 1-year high of $317.90.

McDonald’s (NYSE:MCD) last released its quarterly earnings data on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share for the quarter, beating 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 175.42% and a net margin of 31.79%. The company’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the business earned $3.19 earnings per share. On average, analysts predict that McDonald’s Co. will post 11.77 earnings per share for the current year.

McDonald’s Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a $1.77 dividend. This is an increase from McDonald’s’s previous quarterly dividend of $1.67. This represents a $7.08 annualized dividend and a dividend yield of 2.46%. The ex-dividend date of this dividend is Monday, December 2nd. McDonald’s’s payout ratio is presently 58.65%.

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.