McDonald’s Co. (NYSE:MCD) Shares Purchased by Glenmede Trust Co. NA

Glenmede Trust Co. NA grew its stake in shares of McDonald’s Co. (NYSE:MCD) by 2.4% in the third quarter, according to its most recent filing with the SEC. The fund owned 343,306 shares of the fast-food giant’s stock after acquiring an additional 8,131 shares during the period. Glenmede Trust Co. NA’s holdings in McDonald’s were worth $104,540,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Kings Path Partners LLC purchased a new position in McDonald’s during the second quarter valued at approximately $38,000. Hara Capital LLC purchased a new stake in shares of McDonald’s during the third quarter worth $44,000. Peterson Financial Group Inc. acquired a new stake in McDonald’s during the third quarter valued at $58,000. Opal Wealth Advisors LLC purchased a new position in McDonald’s in the second quarter valued at about $59,000. Finally, Bbjs Financial Advisors LLC acquired a new position in McDonald’s in the 2nd quarter worth about $65,000. 70.29% of the stock is owned by institutional investors.

McDonald’s Trading Up 0.0 %

MCD stock opened at $296.31 on Wednesday. McDonald’s Co. has a 1-year low of $243.53 and a 1-year high of $317.90. The business’s 50 day moving average is $299.90 and its 200-day moving average is $278.55. The firm has a market cap of $212.34 billion, a P/E ratio of 26.01, a P/E/G ratio of 3.94 and a beta of 0.74.

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. 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 analyst estimates of $6.82 billion. During the same period in the prior year, the company posted $3.19 earnings per share. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. Sell-side analysts forecast that McDonald’s Co. will post 11.77 EPS for the current year.

McDonald’s Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a $1.77 dividend. The ex-dividend date is Monday, December 2nd. This is a positive change from McDonald’s’s previous quarterly dividend of $1.67. This represents a $7.08 dividend on an annualized basis and a yield of 2.39%. McDonald’s’s payout ratio is 58.65%.

Insiders Place Their Bets

In related news, insider Joseph M. Erlinger sold 1,099 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $298.57, for a total transaction of $328,128.43. Following the sale, the insider now directly owns 11,484 shares in the company, valued at $3,428,777.88. This represents a 8.73 % 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, 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 sale, the chief executive officer now owns 49,885 shares in the company, valued at $14,966,996.55. The trade was a 19.03 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 35,597 shares of company stock valued at $10,702,754. 0.23% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Deutsche Bank Aktiengesellschaft dropped their price objective on McDonald’s from $295.00 to $290.00 and set a “buy” rating on the stock in a report on Tuesday, July 30th. TD Cowen restated a “hold” rating and set a $300.00 price target on shares of McDonald’s in a report on Tuesday, October 29th. Robert W. Baird downgraded shares of McDonald’s from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $320.00 to $290.00 in a research report on Wednesday, October 23rd. Guggenheim downgraded McDonald’s from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $290.00 to $285.00 in a research note on Wednesday, October 23rd. Finally, Loop Capital restated a “buy” rating on shares of McDonald’s in a report on Friday, October 18th. Thirteen research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price 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.