Citizens Financial Group Inc. RI Raises Position in McDonald’s Co. (NYSE:MCD)

Citizens Financial Group Inc. RI boosted its position in McDonald’s Co. (NYSE:MCD) by 10.9% in the third quarter, Holdings Channel.com reports. The firm owned 25,203 shares of the fast-food giant’s stock after acquiring an additional 2,477 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in McDonald’s were worth $7,675,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Hara Capital LLC acquired a new stake in shares of McDonald’s in the 3rd quarter worth approximately $44,000. Kings Path Partners LLC purchased a new position in shares of McDonald’s in the second quarter valued at $38,000. Peterson Financial Group Inc. acquired a new position in shares of McDonald’s during the 3rd quarter worth $58,000. Opal Wealth Advisors LLC purchased a new stake in shares of McDonald’s in the 2nd quarter worth about $59,000. Finally, Bbjs Financial Advisors LLC acquired a new stake in McDonald’s in the 2nd quarter valued at about $65,000. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Analyst Ratings Changes

MCD has been the subject of a number of research reports. Barclays lifted their target price on shares of McDonald’s from $300.00 to $325.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 22nd. Guggenheim lowered McDonald’s from a “buy” rating to a “neutral” rating and reduced their target price for the company from $290.00 to $285.00 in a research note on Wednesday, October 23rd. Wells Fargo & Company boosted their price target on McDonald’s from $285.00 to $350.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Robert W. Baird downgraded McDonald’s from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $320.00 to $290.00 in a research report on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on McDonald’s from $295.00 to $290.00 and set a “buy” rating for the company in a research report on Tuesday, July 30th. Thirteen investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $319.46.

McDonald’s Price Performance

NYSE:MCD opened at $288.32 on Friday. McDonald’s Co. has a 12 month low of $243.53 and a 12 month high of $317.90. The business’s 50-day moving average is $299.98 and its two-hundred day moving average is $277.91. The firm has a market capitalization of $206.61 billion, a PE ratio of 25.31, a price-to-earnings-growth ratio of 3.87 and a beta of 0.74.

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, topping analysts’ consensus estimates of $3.18 by $0.05. The firm had revenue of $6.87 billion during the quarter, compared to analysts’ expectations of $6.82 billion. McDonald’s had a negative return on equity of 175.42% and a net margin of 31.79%. McDonald’s’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.19 EPS. Equities analysts anticipate that McDonald’s Co. will post 11.77 EPS for the current year.

McDonald’s Increases Dividend

The company also recently disclosed 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 is a boost from McDonald’s’s previous quarterly dividend of $1.67. This represents a $7.08 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date is Monday, December 2nd. McDonald’s’s dividend payout ratio is presently 58.65%.

Insider Activity

In other news, insider Joseph M. Erlinger sold 1,099 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $298.57, for a total transaction of $328,128.43. Following the completion of the sale, the insider now owns 11,484 shares of the company’s stock, valued at approximately $3,428,777.88. This trade represents a 8.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Marion K. Gross sold 1,498 shares of the company’s stock in a transaction 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. This represents a 48.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,498 shares of company stock worth $10,381,296 over the last ninety days. 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.