Keystone Wealth Services LLC Purchases 54 Shares of McDonald’s Co. (NYSE:MCD)

Keystone Wealth Services LLC grew its position in shares of McDonald’s Co. (NYSE:MCD) by 3.1% in the 3rd quarter, HoldingsChannel reports. The firm owned 1,813 shares of the fast-food giant’s stock after acquiring an additional 54 shares during the quarter. Keystone Wealth Services LLC’s holdings in McDonald’s were worth $552,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Dixon Mitchell Investment Counsel Inc. bought a new stake in McDonald’s during the first quarter worth about $28,000. Kings Path Partners LLC purchased a new position in shares of McDonald’s in the second quarter worth about $38,000. Keener Financial Planning LLC increased its holdings in shares of 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 period. Opal Wealth Advisors LLC purchased a new position in shares of McDonald’s in the second quarter worth about $59,000. Finally, Redmont Wealth Advisors LLC purchased a new position in shares of McDonald’s in the first quarter worth about $69,000. Institutional investors own 70.29% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. The Goldman Sachs Group lifted their price objective on McDonald’s from $284.00 to $325.00 and gave the stock a “neutral” rating in a report on Tuesday, September 24th. Wedbush reiterated an “outperform” rating and issued a $295.00 price objective on shares of McDonald’s in a report on Monday, July 29th. Bank of America decreased their price objective on McDonald’s from $288.00 to $278.00 and set a “neutral” rating on the stock in a report on Tuesday, July 30th. Guggenheim lifted their price objective on McDonald’s from $280.00 to $290.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Finally, Evercore ISI boosted their price target on McDonald’s from $320.00 to $340.00 and gave the company an “outperform” rating in a report on Tuesday. Ten analysts have rated the stock with a hold rating and twenty have assigned 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 $314.92.

McDonald’s Stock Performance

Shares of MCD traded up $3.48 during mid-day trading on Tuesday, reaching $313.32. The company had a trading volume of 3,066,489 shares, compared to its average volume of 3,369,963. The firm has a 50-day moving average price of $291.04 and a 200 day moving average price of $272.69. McDonald’s Co. has a 52 week low of $243.53 and a 52 week high of $315.36. The company has a market capitalization of $225.80 billion, a price-to-earnings ratio of 26.61, a price-to-earnings-growth ratio of 4.05 and a beta of 0.73.

McDonald’s (NYSE:MCD) last issued its quarterly earnings results on Monday, July 29th. The fast-food giant reported $2.97 EPS for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.10). McDonald’s had a negative return on equity of 178.68% and a net margin of 32.25%. The company had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $6.62 billion. During the same period in the prior year, the firm earned $3.17 earnings per share. The business’s revenue for the quarter was down .1% compared to the same quarter last year. As a group, research analysts forecast that McDonald’s Co. will post 11.71 earnings per share for the current fiscal year.

McDonald’s Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a $1.77 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This is a boost from McDonald’s’s previous quarterly dividend of $1.67. This represents a $7.08 annualized dividend and a yield of 2.26%. McDonald’s’s dividend payout ratio is 60.10%.

Insider Activity at McDonald’s

In related 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 value of $316,992.60. Following the transaction, the insider now directly owns 12,583 shares of the company’s stock, valued at approximately $3,632,712.10. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other McDonald’s news, insider Joseph M. Erlinger sold 1,099 shares of the business’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $260.00, for a total transaction of $285,740.00. Following the completion of the sale, the insider now directly owns 13,681 shares in the company, valued at approximately $3,557,060. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Joseph M. Erlinger sold 1,098 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $288.70, for a total transaction of $316,992.60. Following the sale, the insider now owns 12,583 shares of the company’s stock, valued at approximately $3,632,712.10. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,097 shares of company stock valued at $10,221,233. 0.23% of the stock is owned by corporate insiders.

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.