Principal Street Partners LLC Buys 864 Shares of McDonald’s Co. (NYSE:MCD)

Principal Street Partners LLC raised its position in shares of McDonald’s Co. (NYSE:MCD) by 62.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,250 shares of the fast-food giant’s stock after acquiring an additional 864 shares during the period. Principal Street Partners LLC’s holdings in McDonald’s were worth $685,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also bought and sold shares of MCD. Hara Capital LLC purchased a new stake in McDonald’s during the 3rd quarter valued at $44,000. Kings Path Partners LLC bought a new position in McDonald’s during the second quarter valued at $38,000. Peterson Financial Group Inc. purchased a new stake in shares of McDonald’s in the third quarter valued at $58,000. Opal Wealth Advisors LLC bought a new stake in shares of McDonald’s in the 2nd quarter worth about $59,000. Finally, Bbjs Financial Advisors LLC bought a new position in McDonald’s during the 2nd quarter valued at about $65,000. Institutional investors own 70.29% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Morgan Stanley upped their target price on McDonald’s from $296.00 to $340.00 and gave the company an “overweight” rating in a research note on Tuesday, October 15th. Evercore ISI increased their target price on McDonald’s from $320.00 to $340.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 15th. Loop Capital reissued a “buy” rating on shares of McDonald’s in a research note on Friday, October 18th. Argus upgraded shares of McDonald’s from a “hold” rating to a “buy” rating in a report on Tuesday, October 8th. Finally, TD Cowen reiterated a “hold” rating and set a $300.00 price objective on shares of McDonald’s in a report on Tuesday, October 29th. Thirteen research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $319.46.

Insider Buying and Selling at McDonald’s

In related news, EVP Marion K. Gross sold 1,498 shares of the firm’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 directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Joseph M. Erlinger sold 1,099 shares of the business’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 directly owns 11,484 shares in the company, valued at $3,428,777.88. This trade represents a 8.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 34,498 shares of company stock worth $10,381,296 in the last three months. 0.23% of the stock is owned by corporate insiders.

McDonald’s Stock Performance

Shares of MCD traded up $0.23 during mid-day trading on Tuesday, hitting $296.42. 63,724 shares of the company were exchanged, compared to its average volume of 3,490,103. The company has a 50 day moving average of $299.84 and a 200-day moving average of $278.40. The stock has a market cap of $212.42 billion, a price-to-earnings ratio of 26.00, a price-to-earnings-growth ratio of 3.86 and a beta of 0.74. McDonald’s Co. has a 1-year low of $243.53 and a 1-year high of $317.90.

McDonald’s (NYSE:MCD) last posted its quarterly earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share for the quarter, topping the consensus estimate of $3.18 by $0.05. The firm had revenue of $6.87 billion for the quarter, compared to the consensus estimate 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 revenue for the quarter was up 2.7% on a year-over-year basis. During the same period last year, the firm posted $3.19 earnings per share. Research analysts anticipate that McDonald’s Co. will post 11.77 earnings per share for the current fiscal year.

McDonald’s Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a dividend of $1.77 per share. This is an increase from McDonald’s’s previous quarterly dividend of $1.67. The ex-dividend date is Monday, December 2nd. This represents a $7.08 dividend on an annualized basis and a yield of 2.39%. McDonald’s’s dividend payout ratio (DPR) is presently 58.65%.

About McDonald’s

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.