StoneX Group Inc. Has $4.30 Million Holdings in McDonald’s Co. (NYSE:MCD)

by · The Markets Daily

StoneX Group Inc. increased its position in shares of McDonald’s Co. (NYSE:MCD – Free Report) by 5.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,106 shares of the fast-food giant’s stock after buying an additional 722 shares during the period. StoneX Group Inc.’s holdings in McDonald’s were worth $4,296,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of MCD. Kings Path Partners LLC acquired a new stake in shares of McDonald’s during the 2nd quarter worth approximately $38,000. Hara Capital LLC bought a new position in McDonald’s during the third quarter worth $44,000. Peterson Financial Group Inc. acquired a new stake in McDonald’s in the third quarter worth $58,000. Opal Wealth Advisors LLC bought a new stake in McDonald’s in the second quarter valued at $59,000. Finally, Bbjs Financial Advisors LLC acquired a new position in shares of McDonald’s during the second quarter valued at about $65,000. Institutional investors and hedge funds own 70.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on MCD. Wells Fargo & Company boosted their target price on McDonald’s from $285.00 to $350.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. Argus raised McDonald’s from a “hold” rating to a “buy” rating in a research report on Tuesday, October 8th. Jefferies Financial Group lifted their price target on shares of McDonald’s from $310.00 to $330.00 and gave the company a “buy” rating in a research report on Monday, September 9th. Loop Capital restated a “buy” rating on shares of McDonald’s in a research note on Friday, October 18th. Finally, Baird R W lowered shares of McDonald’s from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Thirteen equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $319.46.

Get Our Latest Stock Report on MCD

Insider Transactions at McDonald’s

In other McDonald’s news, EVP Marion K. Gross sold 1,499 shares of McDonald’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $294.51, for a total transaction of $441,470.49. Following the completion of the transaction, the executive vice president now owns 1,560 shares of the company’s stock, valued at $459,435.60. The trade was a 49.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Joseph M. Erlinger sold 1,099 shares of the stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $292.38, for a total transaction of $321,325.62. Following the completion of the sale, the insider now directly owns 10,385 shares in the company, valued at approximately $3,036,366.30. The trade was a 9.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,498 shares of company stock valued at $10,381,296 over the last three months. Company insiders own 0.23% of the company’s stock.

McDonald’s Price Performance

Shares of NYSE MCD opened at $290.28 on Friday. The business’s fifty day moving average price is $299.85 and its 200-day moving average price is $278.13. McDonald’s Co. has a one year low of $243.53 and a one year high of $317.90. The stock has a market capitalization of $208.02 billion, a PE ratio of 25.49, a P/E/G ratio of 3.84 and a beta of 0.74.

McDonald’s (NYSE:MCD – Get Free Report) last issued its earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share for the quarter, topping analysts’ consensus estimates of $3.18 by $0.05. The firm had revenue of $6.87 billion during the quarter, compared to analyst estimates of $6.82 billion. McDonald’s had a net margin of 31.79% and a negative return on equity of 175.42%. The company’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter last year, the business earned $3.19 earnings per share. As a group, equities analysts expect that McDonald’s Co. will post 11.77 EPS for the current fiscal year.

McDonald’s Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a dividend of $1.77 per share. The ex-dividend date is Monday, December 2nd. This represents a $7.08 annualized dividend and a dividend yield of 2.44%. This is an increase from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s dividend payout ratio is currently 62.16%.

About McDonald’s

(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.

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