Altus Wealth Group LLC Purchases 298 Shares of McDonald’s Co. (NYSE:MCD)

Altus Wealth Group LLC grew its position in shares of McDonald’s Co. (NYSE:MCD) by 9.5% in the third quarter, according to its most recent filing with the SEC. The fund owned 3,429 shares of the fast-food giant’s stock after acquiring an additional 298 shares during the quarter. Altus Wealth Group LLC’s holdings in McDonald’s were worth $1,044,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Dixon Mitchell Investment Counsel Inc. bought a new position in shares of McDonald’s during the 1st quarter valued at approximately $28,000. Kings Path Partners LLC bought a new stake in McDonald’s in the second quarter worth $38,000. Keener Financial Planning LLC lifted its position in McDonald’s by 32.3% in the first quarter. Keener Financial Planning LLC now owns 176 shares of the fast-food giant’s stock worth $50,000 after buying an additional 43 shares during the last quarter. Opal Wealth Advisors LLC bought a new stake in McDonald’s in the second quarter worth $59,000. Finally, Bbjs Financial Advisors LLC bought a new stake in McDonald’s in the second quarter worth $65,000. 70.29% of the stock is currently owned by institutional investors.

McDonald’s Stock Performance

MCD traded down $17.23 on Wednesday, hitting $297.46. The company had a trading volume of 6,806,081 shares, compared to its average volume of 3,381,318. The stock has a fifty day moving average price of $296.41 and a 200-day moving average price of $274.34. McDonald’s Co. has a 12-month low of $243.53 and a 12-month high of $317.90. The stock has a market capitalization of $214.37 billion, a price-to-earnings ratio of 25.10, a P/E/G ratio of 4.05 and a beta of 0.73.

McDonald’s (NYSE:MCD) last posted its earnings results on Monday, July 29th. The fast-food giant reported $2.97 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts’ expectations of $6.62 billion. During the same quarter last year, the firm earned $3.17 EPS. McDonald’s’s revenue for the quarter was down .1% on a year-over-year basis. Analysts forecast that McDonald’s Co. will post 11.71 EPS 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 issued a $1.77 dividend. This represents a $7.08 annualized dividend and a yield of 2.38%. 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. McDonald’s’s dividend payout ratio (DPR) is currently 60.10%.

Insiders Place Their Bets

In other McDonald’s news, CEO Christopher J. Kempczinski sold 11,727 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was 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 owns 49,885 shares of the company’s stock, valued at approximately $14,966,996.55. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other McDonald’s news, CEO Christopher J. Kempczinski sold 11,727 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was 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 owns 49,885 shares of the company’s stock, valued at approximately $14,966,996.55. This trade represents a 0.00 % decrease in their ownership of the stock. The sale 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 9,291 shares of the firm’s stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $305.00, for a total value 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 approximately $13,193,080. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 32,998 shares of company stock valued at $9,935,493. 0.23% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

MCD has been the subject of a number of analyst reports. Jefferies Financial Group raised 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. Guggenheim downgraded McDonald’s from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $290.00 to $285.00 in a research report on Wednesday. UBS Group raised their price target on McDonald’s from $305.00 to $345.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Loop Capital restated a “buy” rating on shares of McDonald’s in a research report on Friday, October 18th. Finally, KeyCorp increased their target price on McDonald’s from $305.00 to $330.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Twelve research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. Based on data from MarketBeat, McDonald’s has a consensus rating of “Moderate Buy” and a consensus target price of $318.22.

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.