AlphaCore Capital LLC Purchases 348 Shares of McDonald’s Co. (NYSE:MCD)

AlphaCore Capital LLC lifted its holdings in McDonald’s Co. (NYSE:MCD) by 6.7% during the 3rd quarter, Holdings Channel.com reports. The firm owned 5,563 shares of the fast-food giant’s stock after buying an additional 348 shares during the period. AlphaCore Capital LLC’s holdings in McDonald’s were worth $1,694,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Kennebec Savings Bank purchased a new position in shares of McDonald’s during the 3rd quarter worth $1,394,000. Hantz Financial Services Inc. purchased a new position in McDonald’s during the second quarter valued at $6,612,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in McDonald’s by 58.9% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 138,102 shares of the fast-food giant’s stock valued at $35,194,000 after purchasing an additional 51,210 shares during the period. U.S. Capital Wealth Advisors LLC raised its stake in shares of McDonald’s by 6.5% in the third quarter. U.S. Capital Wealth Advisors LLC now owns 49,186 shares of the fast-food giant’s stock worth $14,978,000 after buying an additional 2,997 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of McDonald’s by 0.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,564,359 shares of the fast-food giant’s stock valued at $1,694,403,000 after buying an additional 49,106 shares in the last quarter. Hedge funds and other institutional investors own 70.29% of the company’s stock.

McDonald’s Trading Down 0.9 %

Shares of MCD stock opened at $288.32 on Friday. The stock has a market capitalization of $206.61 billion, a price-to-earnings ratio of 25.31, a P/E/G ratio of 3.87 and a beta of 0.74. The stock has a fifty day simple moving average of $299.98 and a two-hundred day simple moving average of $277.91. McDonald’s Co. has a twelve month low of $243.53 and a twelve month high of $317.90.

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

McDonald’s Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a $1.77 dividend. This represents a $7.08 annualized dividend and a yield of 2.46%. The ex-dividend date is Monday, December 2nd. This is a positive change from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s payout ratio is 58.65%.

Insiders Place Their Bets

In other news, EVP Marion K. Gross sold 1,498 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $286.36, for a total value of $428,967.28. Following the completion of the sale, the executive vice president now owns 1,560 shares of the company’s stock, valued at $446,721.60. This trade represents a 48.99 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CMO Edith Morgan Flatley sold 2,346 shares of the company’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $310.00, for a total value of $727,260.00. Following the transaction, the chief marketing officer now directly owns 2,905 shares in the company, valued at $900,550. This represents a 44.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,498 shares of company stock worth $10,381,296. 0.23% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on MCD. The Goldman Sachs Group lifted their target price on shares of McDonald’s from $284.00 to $325.00 and gave the company a “neutral” rating in a research note on Tuesday, September 24th. Tigress Financial boosted their target price on shares of McDonald’s from $355.00 to $360.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Robert W. Baird downgraded shares of McDonald’s from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $320.00 to $290.00 in a report on Wednesday, October 23rd. BMO Capital Markets lifted their target price on McDonald’s from $315.00 to $335.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, Truist Financial cut their price target on McDonald’s from $350.00 to $342.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. Thirteen investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $319.46.

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.