Patrick M Sweeney & Associates Inc. Has $1.06 Million Position in McDonald’s Co. (NYSE:MCD)

Patrick M Sweeney & Associates Inc. grew its holdings in McDonald’s Co. (NYSE:MCD) by 4.6% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,468 shares of the fast-food giant’s stock after buying an additional 154 shares during the quarter. McDonald’s accounts for approximately 0.8% of Patrick M Sweeney & Associates Inc.’s holdings, making the stock its 28th biggest holding. Patrick M Sweeney & Associates Inc.’s holdings in McDonald’s were worth $1,056,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Dixon Mitchell Investment Counsel Inc. bought a new position in McDonald’s during the first quarter worth about $28,000. Kings Path Partners LLC acquired a new position in shares of McDonald’s in the 2nd quarter worth approximately $38,000. Keener Financial Planning LLC lifted its position in shares of McDonald’s by 32.3% during the 1st quarter. Keener Financial Planning LLC now owns 176 shares of the fast-food giant’s stock worth $50,000 after buying an additional 43 shares during the period. Opal Wealth Advisors LLC acquired a new stake in McDonald’s in the 2nd quarter valued at $59,000. Finally, Bbjs Financial Advisors LLC bought a new stake in McDonald’s in the second quarter valued at $65,000. 70.29% of the stock is owned by institutional investors.

McDonald’s Trading Down 5.1 %

Shares of MCD opened at $298.75 on Thursday. The stock has a market cap of $215.30 billion, a P/E ratio of 25.36, a price-to-earnings-growth ratio of 4.05 and a beta of 0.73. The stock’s 50-day moving average price is $296.97 and its two-hundred day moving average price is $274.51. McDonald’s Co. has a 1 year low of $243.53 and a 1 year high of $317.90.

McDonald’s (NYSE:MCD) last issued its quarterly earnings data on Monday, July 29th. The fast-food giant reported $2.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.10). The firm had revenue of $6.49 billion for the quarter, compared to analyst estimates of $6.62 billion. McDonald’s had a net margin of 32.25% and a negative return on equity of 178.68%. The firm’s revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.17 EPS. As a group, equities analysts forecast that McDonald’s Co. will post 11.71 EPS for the current year.

McDonald’s Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a dividend of $1.77 per share. This represents a $7.08 annualized dividend and a yield of 2.37%. The ex-dividend date is Monday, December 2nd. This is an increase from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s dividend payout ratio (DPR) is presently 60.10%.

Analysts Set New Price Targets

Several brokerages have recently commented on MCD. 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. Tigress Financial boosted their price target on shares of McDonald’s from $355.00 to $360.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Citigroup raised their price objective 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. Deutsche Bank Aktiengesellschaft reduced their target price on McDonald’s from $295.00 to $290.00 and set a “buy” rating on the stock in a report on Tuesday, July 30th. Finally, Loop Capital reiterated a “buy” rating on shares of McDonald’s in a research report on Friday, October 18th. Twelve equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, McDonald’s has a consensus rating of “Moderate Buy” and a consensus price target of $318.22.

Insiders Place Their Bets

In other McDonald’s news, CMO Edith Morgan Flatley sold 2,346 shares of the stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $310.00, for a total value of $727,260.00. Following the completion of the sale, the chief marketing officer now directly owns 2,905 shares in the company, valued at $900,550. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CMO Edith Morgan Flatley sold 2,346 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $310.00, for a total value of $727,260.00. Following the completion of the transaction, the chief marketing officer now owns 2,905 shares in the company, valued at $900,550. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Christopher J. Kempczinski sold 11,727 shares of the firm’s 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 sale, the chief executive officer now owns 49,885 shares in the company, valued at approximately $14,966,996.55. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 32,998 shares of company stock worth $9,935,493. Corporate insiders own 0.23% of the company’s stock.

McDonald’s Company 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.