StoneX Group Inc. Purchases 722 Shares of McDonald’s Co. (NYSE:MCD)

StoneX Group Inc. grew its position in shares of McDonald’s Co. (NYSE:MCD) by 5.4% in the 3rd quarter, HoldingsChannel reports. The firm owned 14,106 shares of the fast-food giant’s stock after acquiring an additional 722 shares during the quarter. StoneX Group Inc.’s holdings in McDonald’s were worth $4,296,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Kings Path Partners LLC bought a new position in shares of McDonald’s in the second quarter worth approximately $38,000. Hara Capital LLC purchased a new stake in McDonald’s during the 3rd quarter valued at $44,000. Peterson Financial Group Inc. bought a new stake in McDonald’s in the 3rd quarter worth $58,000. Opal Wealth Advisors LLC purchased a new position in shares of McDonald’s in the second quarter valued at about $59,000. Finally, Bbjs Financial Advisors LLC purchased a new stake in shares of McDonald’s during the second quarter worth about $65,000. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

McDonald’s Stock Up 0.6 %

Shares of MCD opened at $290.28 on Friday. McDonald’s Co. has a twelve month low of $243.53 and a twelve month high of $317.90. The company has a market capitalization of $208.02 billion, a P/E ratio of 25.49, a price-to-earnings-growth ratio of 3.84 and a beta of 0.74. The firm has a 50 day moving average of $299.85 and a 200 day moving average of $278.13.

McDonald’s (NYSE:MCD) last posted its earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 EPS for the quarter, topping analysts’ consensus estimates of $3.18 by $0.05. The business had revenue of $6.87 billion during the quarter, compared to analyst estimates of $6.82 billion. McDonald’s had a negative return on equity of 175.42% and a net margin of 31.79%. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the company earned $3.19 EPS. On average, sell-side analysts expect that McDonald’s Co. will post 11.77 EPS for the current 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 paid a dividend of $1.77 per share. The ex-dividend date is Monday, December 2nd. This represents a $7.08 annualized dividend and a yield of 2.44%. This is a boost from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s dividend payout ratio is currently 62.16%.

Analyst Upgrades and Downgrades

MCD has been the topic of a number of research analyst reports. TD Cowen restated a “hold” rating and set a $300.00 price target on shares of McDonald’s in a report on Tuesday, October 29th. Jefferies Financial Group boosted their target price on McDonald’s from $310.00 to $330.00 and gave the company a “buy” rating in a research note on Monday, September 9th. Deutsche Bank Aktiengesellschaft dropped their price target on McDonald’s from $295.00 to $290.00 and set a “buy” rating for the company in a research note on Tuesday, July 30th. Argus raised shares of McDonald’s from a “hold” rating to a “buy” rating in a research report on Tuesday, October 8th. Finally, Morgan Stanley raised their target price on shares of McDonald’s from $296.00 to $340.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 15th. Thirteen equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat, McDonald’s presently has an average rating of “Moderate Buy” and an average price target of $319.46.

Insider Activity

In other news, CEO Christopher J. Kempczinski sold 11,727 shares of the 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 transaction, the chief executive officer now directly owns 49,885 shares of the company’s stock, valued at $14,966,996.55. This represents a 19.03 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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 value of $428,967.28. Following the sale, the executive vice president now owns 1,560 shares of the company’s stock, valued at approximately $446,721.60. This trade represents a 48.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 34,498 shares of company stock valued at $10,381,296 in the last 90 days. 0.23% of the stock is currently owned by insiders.

McDonald’s 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.