Cassaday & Co Wealth Management LLC Buys 200 Shares of McDonald’s Co. (NYSE:MCD)

Cassaday & Co Wealth Management LLC raised its position in shares of McDonald’s Co. (NYSE:MCD) by 0.7% in the third quarter, HoldingsChannel reports. The fund owned 27,947 shares of the fast-food giant’s stock after acquiring an additional 200 shares during the period. McDonald’s accounts for approximately 0.2% of Cassaday & Co Wealth Management LLC’s investment portfolio, making the stock its 27th largest holding. Cassaday & Co Wealth Management LLC’s holdings in McDonald’s were worth $8,510,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of MCD. Kings Path Partners LLC acquired a new stake in McDonald’s during the second quarter worth approximately $38,000. Hara Capital LLC bought a new stake in shares of McDonald’s during the 3rd quarter valued at $44,000. Peterson Financial Group Inc. bought a new position in shares of McDonald’s in the third quarter worth $58,000. Opal Wealth Advisors LLC acquired a new stake in McDonald’s during the second quarter worth about $59,000. Finally, Bbjs Financial Advisors LLC bought a new position in McDonald’s in the 2nd quarter valued at about $65,000. Institutional investors own 70.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Truist Financial lowered 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. Bank of America upped their price objective on McDonald’s from $321.00 to $324.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Jefferies Financial Group lifted their target price on shares of McDonald’s from $310.00 to $330.00 and gave the stock a “buy” rating in a research report on Monday, September 9th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of McDonald’s from $295.00 to $290.00 and set a “buy” rating for the company in a research report on Tuesday, July 30th. Finally, Citigroup lifted their price target on shares of McDonald’s from $301.00 to $317.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Thirteen equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $319.46.

McDonald’s Price Performance

Shares of MCD opened at $292.63 on Monday. The stock has a 50-day moving average of $300.06 and a 200-day moving average of $277.48. McDonald’s Co. has a one year low of $243.53 and a one year high of $317.90. The company has a market cap of $209.70 billion, a PE ratio of 25.69, a P/E/G ratio of 3.89 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 for the quarter, topping the consensus estimate of $3.18 by $0.05. McDonald’s had a net margin of 31.79% and a negative return on equity of 175.42%. The firm had revenue of $6.87 billion for the quarter, compared to the consensus estimate of $6.82 billion. During the same quarter in the prior year, the company posted $3.19 earnings per share. The business’s revenue was up 2.7% on a year-over-year basis. Analysts expect that McDonald’s Co. will post 11.77 EPS for the current fiscal year.

McDonald’s Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a dividend of $1.77 per share. 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 2.42%. McDonald’s’s dividend payout ratio (DPR) is 58.65%.

Insider Activity at McDonald’s

In other McDonald’s news, 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 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Marion K. Gross sold 1,499 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $294.51, for a total value of $441,470.49. Following the transaction, the executive vice president now owns 1,560 shares of the company’s stock, valued at $459,435.60. The trade was a 49.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 35,596 shares of company stock valued at $10,698,289 over the last ninety days. Corporate insiders own 0.23% of the company’s stock.

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.