McDonald’s Co. (NYSE:MCD) Shares Bought by Hartford Funds Management Co LLC

Hartford Funds Management Co LLC raised its holdings in McDonald’s Co. (NYSE:MCD) by 8.2% during the 3rd quarter, Holdings Channel reports. The firm owned 2,158 shares of the fast-food giant’s stock after buying an additional 163 shares during the quarter. Hartford Funds Management Co LLC’s holdings in McDonald’s were worth $657,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of MCD. Hara Capital LLC acquired a new stake in shares of McDonald’s in the third quarter worth approximately $44,000. Kings Path Partners LLC acquired a new stake in shares of McDonald’s in the second quarter worth approximately $38,000. Peterson Financial Group Inc. acquired a new stake in shares of McDonald’s in the third quarter worth approximately $58,000. Opal Wealth Advisors LLC acquired a new stake in shares of McDonald’s in the second quarter worth approximately $59,000. Finally, Bbjs Financial Advisors LLC acquired a new stake in shares of McDonald’s in the second quarter worth approximately $65,000. 70.29% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at McDonald’s

In other news, CEO Christopher J. Kempczinski sold 11,727 shares of the company’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $300.03, for a total transaction of $3,518,451.81. Following the completion of the transaction, the chief executive officer now directly owns 49,885 shares of the company’s stock, valued at approximately $14,966,996.55. This represents a 19.03 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Joseph M. Erlinger sold 1,099 shares of the company’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $298.57, for a total value of $328,128.43. Following the transaction, the insider now directly owns 11,484 shares of the company’s stock, valued at approximately $3,428,777.88. This represents a 8.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,498 shares of company stock valued at $10,381,296. 0.23% of the stock is currently owned by corporate insiders.

McDonald’s Price Performance

MCD opened at $290.28 on Friday. 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 $208.02 billion, a price-to-earnings ratio of 25.49, a PEG ratio of 3.84 and a beta of 0.74. The business has a fifty day moving average price of $299.85 and a 200 day moving average price of $278.13.

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

McDonald’s Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a dividend of $1.77 per share. This is a boost from McDonald’s’s previous quarterly dividend of $1.67. This represents a $7.08 annualized dividend and a dividend yield of 2.44%. The ex-dividend date of this dividend is Monday, December 2nd. McDonald’s’s dividend payout ratio is currently 62.16%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Argus raised McDonald’s from a “hold” rating to a “buy” rating in a research note on Tuesday, October 8th. JPMorgan Chase & Co. lifted their price objective on McDonald’s from $270.00 to $290.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Evercore ISI lifted their price objective on McDonald’s from $320.00 to $340.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 15th. BMO Capital Markets lifted their price objective on McDonald’s from $315.00 to $335.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Finally, Truist Financial reduced their price objective on McDonald’s from $350.00 to $342.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. Thirteen analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $319.46.

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.