Fonville Wealth Management LLC Buys New Position in McDonald’s Co. (NYSE:MCD)

Fonville Wealth Management LLC bought a new stake in McDonald’s Co. (NYSE:MCD) during the third quarter, HoldingsChannel.com reports. The fund bought 706 shares of the fast-food giant’s stock, valued at approximately $215,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. International Assets Investment Management LLC grew its stake in McDonald’s by 31,151.1% in the third quarter. International Assets Investment Management LLC now owns 2,319,142 shares of the fast-food giant’s stock valued at $706,202,000 after purchasing an additional 2,311,721 shares in the last quarter. Capital Research Global Investors boosted its stake in shares of McDonald’s by 66.9% during the 1st quarter. Capital Research Global Investors now owns 5,471,007 shares of the fast-food giant’s stock worth $1,542,550,000 after acquiring an additional 2,193,769 shares during the period. Swedbank AB bought a new position in shares of McDonald’s during the 1st quarter worth approximately $348,206,000. Capital World Investors boosted its stake in shares of McDonald’s by 39.7% during the 1st quarter. Capital World Investors now owns 3,565,398 shares of the fast-food giant’s stock worth $1,005,264,000 after acquiring an additional 1,012,534 shares during the period. Finally, Mondrian Investment Partners LTD bought a new position in shares of McDonald’s during the 2nd quarter worth approximately $110,321,000. Institutional investors and hedge funds own 70.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. KeyCorp lifted their target price on McDonald’s from $305.00 to $330.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Stifel Nicolaus reduced their price target on McDonald’s from $285.00 to $265.00 and set a “hold” rating for the company in a research note on Monday, July 22nd. Morgan Stanley boosted their price target on McDonald’s from $296.00 to $340.00 and gave the company an “overweight” rating in a research note on Tuesday, October 15th. Truist Financial reduced their price target on McDonald’s from $350.00 to $342.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, The Goldman Sachs Group boosted their price target on McDonald’s from $284.00 to $325.00 and gave the company a “neutral” rating in a research note on Tuesday, September 24th. Thirteen investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, McDonald’s has a consensus rating of “Moderate Buy” and a consensus price target of $319.46.

Insider Buying and Selling at McDonald’s

In related news, EVP Marion K. Gross sold 1,498 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $286.36, for a total transaction of $428,967.28. Following the sale, the executive vice president now owns 1,560 shares in the company, valued at $446,721.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Marion K. Gross sold 1,498 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $286.36, for a total transaction of $428,967.28. Following the transaction, the executive vice president now directly owns 1,560 shares of the company’s stock, valued at approximately $446,721.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Joseph M. Erlinger sold 1,099 shares of the company’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $292.38, for a total value of $321,325.62. Following the transaction, the insider now directly owns 10,385 shares in the company, valued at approximately $3,036,366.30. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 34,097 shares of company stock worth $10,256,818. Insiders own 0.23% of the company’s stock.

McDonald’s Stock Performance

Shares of McDonald’s stock traded up $4.08 during trading on Friday, reaching $296.19. 1,020,076 shares of the company’s stock were exchanged, compared to its average volume of 3,516,358. McDonald’s Co. has a 1-year low of $243.53 and a 1-year high of $317.90. The firm’s 50-day moving average price is $298.25 and its 200 day moving average price is $275.58. The company has a market cap of $212.47 billion, a P/E ratio of 25.65, a PEG ratio of 3.85 and a beta of 0.73.

McDonald’s (NYSE:MCD) last issued its earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.18 by $0.05. McDonald’s had a negative return on equity of 178.99% and a net margin of 31.79%. The business had revenue of $6.87 billion during the quarter, compared to analysts’ expectations of $6.82 billion. During the same quarter in the prior year, the firm earned $3.19 EPS. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. As a group, equities research analysts predict that McDonald’s Co. will post 11.78 EPS for the current year.

McDonald’s Increases Dividend

The business 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. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.39%. 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%.

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.