Virginia Wealth Management Group Inc. Grows Holdings in McDonald’s Co. (NYSE:MCD)

Virginia Wealth Management Group Inc. increased its position in shares of McDonald’s Co. (NYSE:MCD) by 29.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,713 shares of the fast-food giant’s stock after buying an additional 3,153 shares during the period. McDonald’s comprises approximately 2.6% of Virginia Wealth Management Group Inc.’s holdings, making the stock its 16th biggest holding. Virginia Wealth Management Group Inc.’s holdings in McDonald’s were worth $4,176,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MCD. Dixon Mitchell Investment Counsel Inc. bought a new stake in shares of McDonald’s in the 1st quarter worth about $28,000. Kings Path Partners LLC bought a new stake in shares of McDonald’s in the 2nd quarter worth about $38,000. Accent Capital Management LLC bought a new stake in shares of McDonald’s in the 4th quarter worth about $44,000. Transcendent Capital Group LLC bought a new stake in shares of McDonald’s in the 4th quarter worth about $45,000. Finally, Keener Financial Planning LLC increased its position in shares of McDonald’s by 32.3% in the 1st quarter. Keener Financial Planning LLC now owns 176 shares of the fast-food giant’s stock worth $50,000 after purchasing an additional 43 shares during the last quarter. Hedge funds and other institutional investors own 70.29% of the company’s stock.

McDonald’s Stock Up 0.1 %

Shares of MCD stock traded up $0.37 during trading hours on Friday, reaching $304.41. 268,188 shares of the stock traded hands, compared to its average volume of 3,368,433. McDonald’s Co. has a 1-year low of $243.53 and a 1-year high of $306.96. The business has a fifty day moving average price of $289.64 and a 200 day moving average price of $272.42. The firm has a market capitalization of $218.37 billion, a PE ratio of 26.60, a PEG ratio of 4.05 and a beta of 0.73.

McDonald’s (NYSE:MCD) last announced its quarterly earnings data on Monday, July 29th. The fast-food giant reported $2.97 EPS for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.10). McDonald’s had a net margin of 32.25% and a negative return on equity of 178.68%. The company had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.62 billion. During the same period in the previous year, the firm posted $3.17 earnings per share. The business’s revenue for the quarter was down .1% on a year-over-year basis. Research analysts expect that McDonald’s Co. will post 11.71 earnings per share for the current fiscal year.

McDonald’s Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a dividend of $1.77 per share. The ex-dividend date of this dividend is Monday, December 2nd. This is an increase from McDonald’s’s previous quarterly dividend of $1.67. This represents a $7.08 dividend on an annualized basis and a yield of 2.33%. McDonald’s’s payout ratio is presently 58.44%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on MCD. The Goldman Sachs Group lifted their price target on shares of McDonald’s from $284.00 to $325.00 and gave the company a “neutral” rating in a report on Tuesday, September 24th. Guggenheim lifted their price target on shares of McDonald’s from $280.00 to $290.00 and gave the company a “buy” rating in a report on Friday, August 2nd. JPMorgan Chase & Co. lifted their price target on shares of McDonald’s from $270.00 to $290.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Tigress Financial lifted their price target on shares of McDonald’s from $355.00 to $360.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Finally, Loop Capital reaffirmed a “buy” rating and issued a $342.00 price target on shares of McDonald’s in a report on Tuesday, September 10th. Ten investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $310.50.

Insider Activity at McDonald’s

In related news, CEO Christopher J. Kempczinski sold 11,727 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $300.03, for a total transaction of $3,518,451.81. Following the transaction, the chief executive officer now directly owns 49,885 shares of the company’s stock, valued at approximately $14,966,996.55. 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 McDonald’s news, CEO Christopher J. Kempczinski sold 11,727 shares of the business’s 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 completion of the sale, the chief executive officer now directly owns 49,885 shares of the company’s stock, valued at $14,966,996.55. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Christopher J. Kempczinski sold 9,291 shares of the business’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $305.00, for a total transaction of $2,833,755.00. Following the completion of the sale, the chief executive officer now directly owns 43,256 shares of the company’s stock, valued at $13,193,080. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 31,751 shares of company stock valued at $9,493,973. Corporate insiders own 0.23% of the company’s stock.

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.