McDonald’s Co. (NYSE:MCD) Shares Acquired by Icon Wealth Advisors LLC

Icon Wealth Advisors LLC increased its holdings in shares of McDonald’s Co. (NYSE:MCD) by 0.6% during the third quarter, Holdings Channel.com reports. The fund owned 15,367 shares of the fast-food giant’s stock after buying an additional 91 shares during the period. Icon Wealth Advisors LLC’s holdings in McDonald’s were worth $4,679,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Steigerwald Gordon & Koch Inc. increased its position in shares of McDonald’s by 2.4% in the third quarter. Steigerwald Gordon & Koch Inc. now owns 1,422 shares of the fast-food giant’s stock valued at $433,000 after buying an additional 33 shares in the last quarter. Riversedge Advisors LLC lifted its position in shares of McDonald’s by 2.0% during the 3rd quarter. Riversedge Advisors LLC now owns 1,686 shares of the fast-food giant’s stock valued at $513,000 after buying an additional 33 shares in the last quarter. Proquility Private Wealth Partners LLC grew its stake in McDonald’s by 1.0% in the 3rd quarter. Proquility Private Wealth Partners LLC now owns 3,472 shares of the fast-food giant’s stock valued at $1,057,000 after acquiring an additional 35 shares during the period. Clear Creek Financial Management LLC increased its holdings in McDonald’s by 2.8% in the 3rd quarter. Clear Creek Financial Management LLC now owns 1,300 shares of the fast-food giant’s stock worth $396,000 after acquiring an additional 35 shares in the last quarter. Finally, GDS Wealth Management raised its position in McDonald’s by 1.4% during the third quarter. GDS Wealth Management now owns 2,504 shares of the fast-food giant’s stock worth $762,000 after acquiring an additional 35 shares during the period. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Wall Street Analyst Weigh In

MCD has been the subject of a number of research reports. Robert W. Baird cut shares of McDonald’s from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $320.00 to $290.00 in a research note on Wednesday, October 23rd. Evercore ISI increased their price objective on McDonald’s from $320.00 to $340.00 and gave the company an “outperform” rating in a research note on Tuesday, October 15th. Barclays increased their price objective on McDonald’s from $300.00 to $325.00 and gave the company an “overweight” rating in a research note on Tuesday, October 22nd. Citigroup increased their price objective on McDonald’s from $301.00 to $317.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. Finally, Argus raised McDonald’s from a “hold” rating to a “buy” rating in a research note on Tuesday, October 8th. Thirteen investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, McDonald’s currently has an average rating of “Moderate Buy” and an average target price of $319.46.

McDonald’s Stock Performance

McDonald’s stock opened at $295.08 on Friday. The company has a 50 day moving average price of $299.98 and a 200 day moving average price of $278.78. The firm has a market capitalization of $211.46 billion, a price-to-earnings ratio of 25.91, a P/E/G ratio of 3.92 and a beta of 0.74. McDonald’s Co. has a 52 week low of $243.53 and a 52 week high of $317.90.

McDonald’s (NYSE:MCD) last released its quarterly earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share for the quarter, beating analysts’ consensus estimates of $3.18 by $0.05. The business had revenue of $6.87 billion for 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% on a year-over-year basis. During the same quarter last year, the firm earned $3.19 EPS. Equities analysts forecast that McDonald’s Co. will post 11.77 earnings per share for the current fiscal year.

McDonald’s Increases Dividend

The company also recently announced 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. 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 2.40%. The ex-dividend date is Monday, December 2nd. McDonald’s’s dividend payout ratio (DPR) is 58.65%.

Insider Activity at McDonald’s

In other 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 value of $428,967.28. Following the completion of the sale, the executive vice president now directly owns 1,560 shares of the company’s stock, valued at $446,721.60. This represents a 48.99 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Joseph M. Erlinger sold 1,099 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $292.50, for a total value of $321,457.50. Following the completion of the sale, the insider now directly owns 9,286 shares of the company’s stock, valued at approximately $2,716,155. This trade represents a 10.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 35,597 shares of company stock valued at $10,702,754 over the last quarter. 0.23% of the stock is owned by company insiders.

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.