BLB&B Advisors LLC Raises Stock Position in McDonald’s Co. (NYSE:MCD)

23 Oct 2024, 07:28 by Renee Jackson · The Cerbat Gem

BLB&B Advisors LLC grew its holdings in McDonald’s Co. (NYSE:MCD – Free Report) by 2.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 37,456 shares of the fast-food giant’s stock after purchasing an additional 869 shares during the quarter. BLB&B Advisors LLC’s holdings in McDonald’s were worth $11,406,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in MCD. Capital Research Global Investors increased its position in shares of McDonald’s by 66.9% during the first 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 purchased a new stake in McDonald’s during the 1st quarter worth about $348,206,000. Capital World Investors grew its position in shares of McDonald’s by 39.7% during 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 buying an additional 1,012,534 shares in the last quarter. Mondrian Investment Partners LTD purchased a new position in McDonald’s in the second quarter valued at $110,321,000. Finally, National Bank of Canada FI increased its stake in McDonald’s by 56.2% in 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 during the last quarter. Institutional investors and hedge funds own 70.29% of the company’s stock.

Insider Buying and Selling

In other McDonald’s news, EVP Marion K. Gross sold 1,498 shares of the business’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 completion of the sale, the executive vice president now owns 1,560 shares of the company’s stock, valued at approximately $446,721.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other McDonald’s news, EVP Marion K. Gross sold 1,498 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $286.36, for a total transaction of $428,967.28. Following the completion of the sale, the executive vice president now directly owns 1,560 shares in the company, valued at $446,721.60. The trade was 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 this hyperlink. Also, insider Joseph M. Erlinger sold 1,098 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $288.70, for a total value of $316,992.60. Following the transaction, the insider now owns 12,583 shares in the company, valued at approximately $3,632,712.10. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 32,998 shares of company stock valued at $9,935,493. 0.23% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

MCD has been the topic of several research reports. Bank of America raised their price objective on McDonald’s from $308.00 to $322.00 and gave the stock a “neutral” rating in a report on Monday. UBS Group increased their price objective on McDonald’s from $305.00 to $345.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Guggenheim boosted their price objective on shares of McDonald’s from $280.00 to $290.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Robert W. Baird increased their price target on shares of McDonald’s from $280.00 to $320.00 and gave the stock an “outperform” rating in a report on Thursday, September 26th. Finally, Loop Capital reissued a “buy” rating on shares of McDonald’s in a research note on Friday. Ten investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to MarketBeat.com, McDonald’s currently has an average rating of “Moderate Buy” and a consensus price target of $319.52.

Check Out Our Latest Analysis on McDonald’s

McDonald’s Trading Down 0.1 %

Shares of NYSE:MCD opened at $314.65 on Wednesday. The firm has a market cap of $226.76 billion, a price-to-earnings ratio of 26.71, a PEG ratio of 4.05 and a beta of 0.73. The stock’s 50-day moving average price is $296.41 and its two-hundred day moving average price is $274.34. McDonald’s Co. has a 12-month low of $243.53 and a 12-month high of $317.90.

McDonald’s (NYSE:MCD – Get Free Report) last released its earnings results on Monday, July 29th. The fast-food giant reported $2.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.07 by ($0.10). The company had revenue of $6.49 billion during 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 business posted $3.17 earnings per share. As a group, research analysts forecast that McDonald’s Co. will post 11.71 earnings per share for the current fiscal year.

McDonald’s Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a dividend of $1.77 per share. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.25%. This is an increase from McDonald’s’s previous quarterly dividend of $1.67. The ex-dividend date of this dividend is Monday, December 2nd. McDonald’s’s dividend payout ratio is presently 60.10%.

McDonald’s Profile

(Free Report)

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.