Philip James Wealth Mangement LLC Boosts Position in McDonald’s Co. (NYSE:MCD)

Philip James Wealth Mangement LLC raised its stake in shares of McDonald’s Co. (NYSE:MCD) by 97.8% in the third quarter, Holdings Channel reports. The institutional investor owned 2,053 shares of the fast-food giant’s stock after buying an additional 1,015 shares during the quarter. Philip James Wealth Mangement LLC’s holdings in McDonald’s were worth $625,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Legal & General Group Plc grew its holdings in McDonald’s by 3.2% during the 2nd quarter. Legal & General Group Plc now owns 6,149,080 shares of the fast-food giant’s stock valued at $1,567,030,000 after buying an additional 188,888 shares in the last quarter. Capital Research Global Investors grew 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 valued at $1,542,550,000 after buying an additional 2,193,769 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in McDonald’s by 8.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 4,761,625 shares of the fast-food giant’s stock valued at $1,216,677,000 after buying an additional 354,196 shares in the last quarter. Capital World Investors grew its holdings in McDonald’s by 39.7% during 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 buying an additional 1,012,534 shares in the last quarter. Finally, International Assets Investment Management LLC grew its holdings in McDonald’s by 31,151.1% during the 3rd quarter. International Assets Investment Management LLC now owns 2,319,142 shares of the fast-food giant’s stock valued at $706,202,000 after buying an additional 2,311,721 shares in the last quarter. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Insider Buying and Selling

In related news, CEO Christopher J. Kempczinski sold 11,727 shares of the company’s stock in a transaction on 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 sale, the chief executive officer now directly owns 49,885 shares of the company’s stock, valued at $14,966,996.55. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO Christopher J. Kempczinski sold 9,291 shares of the company’s stock in a transaction on 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Christopher J. Kempczinski sold 11,727 shares of the stock in a transaction on 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 directly owns 49,885 shares in the company, valued at approximately $14,966,996.55. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 35,596 shares of company stock valued at $10,698,289 over the last ninety days. Company insiders own 0.23% of the company’s stock.

Wall Street Analyst Weigh In

MCD has been the subject of several recent analyst reports. BMO Capital Markets boosted their price objective on McDonald’s from $315.00 to $335.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Citigroup boosted their price objective on McDonald’s from $301.00 to $317.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Jefferies Financial Group boosted their price objective on McDonald’s from $310.00 to $330.00 and gave the stock a “buy” rating in a report on Monday, September 9th. Morgan Stanley boosted their price objective on McDonald’s from $296.00 to $340.00 and gave the stock an “overweight” rating in a report on Tuesday, October 15th. Finally, Bank of America boosted their price objective on McDonald’s from $321.00 to $324.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Thirteen equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $319.46.

McDonald’s Stock Up 1.8 %

Shares of MCD traded up $5.28 during mid-day trading on Friday, hitting $299.94. 494,890 shares of the company’s stock traded hands, compared to its average volume of 3,513,512. McDonald’s Co. has a 1 year low of $243.53 and a 1 year high of $317.90. The firm has a market capitalization of $215.16 billion, a P/E ratio of 25.87, a PEG ratio of 3.89 and a beta of 0.74. The business’s 50-day moving average price is $298.74 and its 200-day moving average price is $276.35.

McDonald’s (NYSE:MCD) last posted its earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.18 by $0.05. McDonald’s had a negative return on equity of 178.99% and a net margin of 31.79%. The firm had revenue of $6.87 billion for the quarter, compared to analysts’ expectations of $6.82 billion. During the same period in the previous year, the firm earned $3.19 earnings per share. The business’s revenue was up 2.7% compared to the same quarter last year. Sell-side analysts anticipate that McDonald’s Co. will post 11.77 earnings per share for the current fiscal year.

McDonald’s Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a $1.77 dividend. This represents a $7.08 annualized dividend and a yield of 2.36%. This is a boost from McDonald’s’s previous quarterly dividend of $1.67. The ex-dividend date is Monday, December 2nd. McDonald’s’s dividend payout ratio is presently 62.16%.

McDonald’s 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.