Cedrus LLC Has $405,000 Stock Position in McDonald’s Co. (NYSE:MCD)

Cedrus LLC lifted its position in shares of McDonald’s Co. (NYSE:MCD) by 2.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,330 shares of the fast-food giant’s stock after purchasing an additional 38 shares during the quarter. Cedrus LLC’s holdings in McDonald’s were worth $405,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Capital Research Global Investors raised its stake in shares of McDonald’s by 66.9% in the 1st quarter. Capital Research Global Investors now owns 5,471,007 shares of the fast-food giant’s stock valued at $1,542,550,000 after buying an additional 2,193,769 shares in the last quarter. Swedbank AB bought a new stake in McDonald’s in the first quarter valued at about $348,206,000. Capital World Investors raised its position in McDonald’s by 39.7% in the first quarter. Capital World Investors now owns 3,565,398 shares of the fast-food giant’s stock worth $1,005,264,000 after purchasing an additional 1,012,534 shares in the last quarter. Mondrian Investment Partners LTD bought a new position in McDonald’s during the second quarter worth about $110,321,000. Finally, National Bank of Canada FI boosted its holdings in McDonald’s by 56.2% during the first quarter. National Bank of Canada FI now owns 1,123,132 shares of the fast-food giant’s stock valued at $308,878,000 after purchasing an additional 403,958 shares in the last quarter. 70.29% of the stock is currently owned by institutional investors.

McDonald’s Price Performance

Shares of NYSE:MCD opened at $316.56 on Friday. The stock has a market cap of $228.14 billion, a price-to-earnings ratio of 26.87, a P/E/G ratio of 4.05 and a beta of 0.73. The company has a 50 day moving average of $294.62 and a 200-day moving average of $273.70. McDonald’s Co. has a one year low of $243.53 and a one year high of $317.18.

McDonald’s (NYSE:MCD) last released its 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). The business had revenue of $6.49 billion for the quarter, compared to analyst estimates of $6.62 billion. McDonald’s had a negative return on equity of 178.68% and a net margin of 32.25%. McDonald’s’s revenue was down .1% on a year-over-year basis. During the same period in the prior year, the firm posted $3.17 EPS. Equities research analysts anticipate that McDonald’s Co. will post 11.71 earnings per share for the current year.

McDonald’s Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a $1.77 dividend. This represents a $7.08 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date of this dividend is Monday, December 2nd. This is an increase from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s dividend payout ratio is currently 60.10%.

Insider Buying and Selling at McDonald’s

In other news, CMO Edith Morgan Flatley sold 2,346 shares of the business’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $310.00, for a total transaction of $727,260.00. Following the completion of the transaction, the chief marketing officer now directly owns 2,905 shares in the company, valued at approximately $900,550. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CMO Edith Morgan Flatley sold 2,346 shares of McDonald’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $310.00, for a total transaction of $727,260.00. Following the transaction, the chief marketing officer now directly owns 2,905 shares of the company’s stock, valued at $900,550. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Christopher J. Kempczinski sold 11,727 shares of the company’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $300.03, for a total transaction of $3,518,451.81. Following the completion of the sale, the chief executive officer now owns 49,885 shares of the company’s stock, valued at approximately $14,966,996.55. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 34,097 shares of company stock valued at $10,221,233. 0.23% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Loop Capital reissued a “buy” rating on shares of McDonald’s in a report on Friday. Citigroup lifted their price objective on McDonald’s from $301.00 to $317.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Stifel Nicolaus reduced their target price on shares of McDonald’s from $285.00 to $265.00 and set a “hold” rating on the stock in a research note on Monday, July 22nd. KeyCorp increased their target price on shares of McDonald’s from $305.00 to $330.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Finally, TD Cowen boosted their price target on shares of McDonald’s from $280.00 to $300.00 and gave the company a “hold” rating in a research report on Wednesday. Ten equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat, McDonald’s currently has a consensus rating of “Moderate Buy” and a consensus target price of $315.69.

About McDonald’s

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.