1,620 Shares in McDonald’s Corporation $MCD Acquired by Grant Private Wealth Management Inc

Grant Private Wealth Management Inc bought a new position in shares of McDonald’s Corporation (NYSE:MCD) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 1,620 shares of the fast-food giant’s stock, valued at approximately $492,000.

Several other institutional investors have also modified their holdings of the business. Vanguard Group Inc. grew its stake in McDonald’s by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 71,331,031 shares of the fast-food giant’s stock worth $20,840,787,000 after purchasing an additional 921,936 shares in the last quarter. State Street Corp grew its stake in shares of McDonald’s by 0.8% during the second quarter. State Street Corp now owns 34,828,352 shares of the fast-food giant’s stock worth $10,175,800,000 after purchasing an additional 272,139 shares in the last quarter. Geode Capital Management LLC increased its holdings in McDonald’s by 1.7% in the second quarter. Geode Capital Management LLC now owns 16,828,420 shares of the fast-food giant’s stock valued at $4,901,595,000 after buying an additional 276,065 shares during the last quarter. Norges Bank acquired a new stake in McDonald’s in the second quarter valued at $2,780,712,000. Finally, Price T Rowe Associates Inc. MD raised its stake in McDonald’s by 16.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 9,341,460 shares of the fast-food giant’s stock valued at $2,917,993,000 after buying an additional 1,344,954 shares in the last quarter. Institutional investors and hedge funds own 70.29% of the company’s stock.

Analysts Set New Price Targets

MCD has been the topic of a number of recent analyst reports. Stifel Nicolaus increased their price objective on McDonald’s from $300.00 to $315.00 and gave the company a “hold” rating in a report on Friday, August 22nd. BMO Capital Markets reiterated an “outperform” rating on shares of McDonald’s in a research note on Thursday, November 6th. Morgan Stanley set a $335.00 price objective on shares of McDonald’s in a research report on Friday, October 17th. Royal Bank Of Canada initiated coverage on shares of McDonald’s in a report on Wednesday, October 8th. They issued a “sector perform” rating and a $320.00 target price for the company. Finally, KeyCorp reiterated an “overweight” rating and set a $335.00 price target on shares of McDonald’s in a research note on Monday, October 20th. Eleven research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, McDonald’s has a consensus rating of “Hold” and an average target price of $324.57.

McDonald’s Price Performance

Shares of McDonald’s stock opened at $314.76 on Wednesday. The firm’s fifty day simple moving average is $305.81 and its 200-day simple moving average is $303.70. McDonald’s Corporation has a 12 month low of $276.53 and a 12 month high of $326.32. The stock has a market capitalization of $224.16 billion, a price-to-earnings ratio of 26.86, a PEG ratio of 3.54 and a beta of 0.52.

McDonald’s (NYSE:MCD) last issued its quarterly earnings data on Wednesday, November 5th. The fast-food giant reported $3.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.33 by ($0.11). McDonald’s had a negative return on equity of 280.89% and a net margin of 32.04%.The business had revenue of $7.08 billion for the quarter, compared to analysts’ expectations of $7.10 billion. During the same period in the previous year, the business posted $3.23 earnings per share. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. Analysts anticipate that McDonald’s Corporation will post 12.25 earnings per share for the current year.

McDonald’s Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were paid a dividend of $1.86 per share. The ex-dividend date of this dividend was Monday, December 1st. This represents a $7.44 annualized dividend and a yield of 2.4%. This is a boost from McDonald’s’s previous quarterly dividend of $1.77. McDonald’s’s dividend payout ratio (DPR) is currently 63.48%.

Insider Buying and Selling at McDonald’s

In other news, CFO Ian Frederick Borden sold 17,134 shares of the company’s stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $310.00, for a total transaction of $5,311,540.00. Following the completion of the sale, the chief financial officer owned 26,353 shares in the company, valued at $8,169,430. This represents a 39.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Joseph M. Erlinger sold 3,195 shares of the stock in a transaction on Friday, November 14th. The stock was sold at an average price of $305.82, for a total value of $977,094.90. Following the sale, the insider directly owned 6,088 shares of the company’s stock, valued at approximately $1,861,832.16. This represents a 34.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 40,030 shares of company stock valued at $12,240,570 in the last ninety days. Insiders own 0.25% of the company’s stock.

About McDonald’s

McDonald’s Corp. engages in the operation and franchising of restaurants. It operates through the following segments: U.S., International Operated Markets, and International Developmental Licensed Markets and Corporate. The U.S. segment focuses its operations on the United States. The International Operated Markets segment consists of operations and the franchising of restaurants in Australia, Canada, France, Germany, Italy, the Netherlands, Spain, and the U.K.