Avitas Wealth Management LLC Raises Stock Holdings in McDonald’s Co. (NYSE:MCD)

Avitas Wealth Management LLC raised its holdings in McDonald’s Co. (NYSE:MCD) by 1.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,533 shares of the fast-food giant’s stock after purchasing an additional 270 shares during the period. McDonald’s comprises approximately 0.9% of Avitas Wealth Management LLC’s holdings, making the stock its 24th largest holding. Avitas Wealth Management LLC’s holdings in McDonald’s were worth $6,557,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Legal & General Group Plc increased its position in shares of McDonald’s by 3.2% in the 2nd quarter. Legal & General Group Plc now owns 6,149,080 shares of the fast-food giant’s stock worth $1,567,030,000 after purchasing an additional 188,888 shares during the last quarter. Capital Research Global Investors lifted its holdings in McDonald’s by 66.9% during 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 buying an additional 2,193,769 shares during the last quarter. Ameriprise Financial Inc. grew its position in shares of 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 acquiring an additional 354,196 shares in the last quarter. Capital World Investors increased its holdings in shares of McDonald’s by 39.7% in the 1st quarter. Capital World Investors now owns 3,565,398 shares of the fast-food giant’s stock valued at $1,005,264,000 after acquiring an additional 1,012,534 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its stake in McDonald’s by 31,151.1% during the third quarter. International Assets Investment Management LLC now owns 2,319,142 shares of the fast-food giant’s stock worth $706,202,000 after purchasing an additional 2,311,721 shares during the last quarter. Institutional investors and hedge funds own 70.29% of the company’s stock.

McDonald’s Stock Performance

McDonald’s stock opened at $295.03 on Wednesday. The company has a 50 day moving average price of $298.15 and a 200 day moving average price of $275.35. McDonald’s Co. has a 52 week low of $243.53 and a 52 week high of $317.90. The firm has a market capitalization of $211.64 billion, a price-to-earnings ratio of 25.81, a P/E/G ratio of 4.13 and a beta of 0.73.

McDonald’s (NYSE:MCD) last issued its quarterly earnings results on Monday, July 29th. The fast-food giant reported $2.97 earnings per share for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.10). The business had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.62 billion. McDonald’s had a net margin of 32.25% and a negative return on equity of 178.68%. The business’s quarterly revenue was down .1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.17 EPS. Equities analysts forecast that McDonald’s Co. will post 11.73 earnings per share for the current fiscal 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. 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 2.40%. McDonald’s’s dividend payout ratio is currently 61.94%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on MCD shares. KeyCorp raised their price target on shares of McDonald’s from $305.00 to $330.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Jefferies Financial Group increased their price target on McDonald’s from $310.00 to $330.00 and gave the stock a “buy” rating in a research report on Monday, September 9th. Morgan Stanley upped their price objective on McDonald’s from $296.00 to $340.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 15th. Evercore ISI raised their target price on McDonald’s from $320.00 to $340.00 and gave the company an “outperform” rating in a research note on Tuesday, October 15th. Finally, UBS Group increased their price objective on shares of McDonald’s from $305.00 to $345.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Thirteen analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $318.22.

Insider Transactions at McDonald’s

In related news, EVP Marion K. Gross sold 1,498 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $286.36, for a total transaction of $428,967.28. Following the transaction, the executive vice president now directly owns 1,560 shares of the company’s stock, valued at approximately $446,721.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, EVP Marion K. Gross sold 1,498 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $286.36, for a total transaction of $428,967.28. Following the transaction, the executive vice president now directly owns 1,560 shares in the company, valued at $446,721.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Joseph M. Erlinger sold 1,098 shares of the company’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $288.70, for a total value of $316,992.60. Following the completion of the transaction, the insider now directly owns 12,583 shares in the company, valued at approximately $3,632,712.10. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,097 shares of company stock valued at $10,256,818 over the last three months. 0.23% of the stock is owned by corporate insiders.

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.