MidAtlantic Capital Management Inc. Makes New $96,000 Investment in McDonald’s Co. (NYSE:MCD)

MidAtlantic Capital Management Inc. bought a new position in McDonald’s Co. (NYSE:MCD) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 315 shares of the fast-food giant’s stock, valued at approximately $96,000.

Several other large investors have also recently made changes to their positions in MCD. Kings Path Partners LLC purchased a new stake in shares of McDonald’s in the second quarter worth about $38,000. Hara Capital LLC purchased a new position in McDonald’s during the third quarter worth approximately $44,000. Peterson Financial Group Inc. purchased a new position in McDonald’s during the third quarter worth approximately $58,000. Opal Wealth Advisors LLC purchased a new position in McDonald’s during the second quarter worth approximately $59,000. Finally, Bbjs Financial Advisors LLC purchased a new position in McDonald’s during the second quarter worth approximately $65,000. 70.29% of the stock is owned by institutional investors.

McDonald’s Trading Up 0.1 %

NYSE:MCD opened at $292.84 on Monday. The firm has a market cap of $209.86 billion, a PE ratio of 25.69, a price-to-earnings-growth ratio of 3.89 and a beta of 0.74. The stock has a fifty day moving average price of $300.06 and a 200 day moving average price of $277.48. McDonald’s Co. has a 12-month low of $243.53 and a 12-month high of $317.90.

McDonald’s (NYSE:MCD) last released its quarterly earnings data on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.18 by $0.05. The business had revenue of $6.87 billion during the quarter, compared to analysts’ expectations of $6.82 billion. McDonald’s had a negative return on equity of 175.42% and a net margin of 31.79%. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.19 EPS. Equities analysts forecast that McDonald’s Co. will post 11.77 EPS for the current year.

McDonald’s Increases Dividend

The company 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. This represents a $7.08 annualized dividend and a dividend yield of 2.42%. The ex-dividend date is Monday, December 2nd. McDonald’s’s payout ratio is presently 58.65%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on MCD. Truist Financial reduced their target price on McDonald’s from $350.00 to $342.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. KeyCorp increased their target price on McDonald’s from $305.00 to $330.00 and gave the company an “overweight” rating in a report on Monday, October 7th. BMO Capital Markets increased their target price on McDonald’s from $315.00 to $335.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. The Goldman Sachs Group increased their target price on McDonald’s from $284.00 to $325.00 and gave the company a “neutral” rating in a report on Tuesday, September 24th. Finally, Tigress Financial increased their price target on McDonald’s from $355.00 to $360.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Thirteen investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, McDonald’s has a consensus rating of “Moderate Buy” and an average price target of $319.46.

Insider Activity

In other McDonald’s news, insider Joseph M. Erlinger sold 1,098 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $288.70, for a total transaction of $316,992.60. Following the completion of the sale, the insider now directly owns 12,583 shares of the company’s stock, valued at $3,632,712.10. This represents a 8.03 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Marion K. Gross sold 1,499 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $294.51, for a total value of $441,470.49. Following the sale, the executive vice president now directly owns 1,560 shares of the company’s stock, valued at approximately $459,435.60. This represents a 49.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 35,596 shares of company stock valued at $10,698,289. 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.