9,677 McDonald’s Corporation $MCD Shares Purchased by Welch Group LLC

Welch Group LLC boosted its stake in shares of McDonald’s Corporation (NYSE:MCD) by 4.3% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 234,482 shares of the fast-food giant’s stock after acquiring an additional 9,677 shares during the quarter. McDonald’s makes up 1.8% of Welch Group LLC’s investment portfolio, making the stock its 27th biggest position. Welch Group LLC’s holdings in McDonald’s were worth $54,151,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in MCD. True Freedom Investing LLC raised its holdings in shares of McDonald’s by 26.7% in the 3rd quarter. True Freedom Investing LLC now owns 21,539 shares of the fast-food giant’s stock valued at $4,974,000 after buying an additional 4,544 shares during the period. Bank Julius Baer & Co. Ltd Zurich boosted its holdings in McDonald’s by 141.5% during the 3rd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 524,341 shares of the fast-food giant’s stock valued at $121,392,000 after acquiring an additional 307,192 shares during the period. Pinkerton Wealth LLC boosted its holdings in McDonald’s by 24.5% during the 3rd quarter. Pinkerton Wealth LLC now owns 22,009 shares of the fast-food giant’s stock valued at $5,083,000 after acquiring an additional 4,336 shares during the period. Heritage Investors Management Corp grew its position in McDonald’s by 1.9% in the 3rd quarter. Heritage Investors Management Corp now owns 108,889 shares of the fast-food giant’s stock valued at $25,147,000 after acquiring an additional 1,992 shares in the last quarter. Finally, Hennessy Advisors Inc. grew its position in McDonald’s by 22.6% in the 3rd quarter. Hennessy Advisors Inc. now owns 7,050 shares of the fast-food giant’s stock valued at $1,628,000 after acquiring an additional 1,300 shares in the last quarter. 70.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

MCD has been the topic of several research reports. Morgan Stanley reduced their price target on shares of McDonald’s from $308.00 to $297.00 and set an “equal weight” rating on the stock in a research report on Monday, September 28th. Melius Research dropped their price objective on shares of McDonald’s from $250.00 to $230.00 and set a “sell” rating for the company in a report on Monday, September 28th. Sanford C. Bernstein cut their target price on shares of McDonald’s from $295.00 to $250.00 and set a “market perform” rating on the stock in a research note on Thursday, October 8th. Jefferies Financial Group reduced their target price on shares of McDonald’s from $260.00 to $250.00 and set an “overweight” rating on the stock in a report on Tuesday, September 29th. Finally, Seaport Research Partners began coverage on shares of McDonald’s in a research report on Wednesday, September 16th. They issued a “neutral” rating for the company. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $294.73.

McDonald’s Stock Performance

Shares of MCD opened at $258.15 on Monday. McDonald’s Corporation has a 1 year low of $229.20 and a 1 year high of $341.75. The stock has a market capitalization of $182.68 billion, a PE ratio of 20.97, a PEG ratio of 2.95 and a beta of 0.42. The stock has a 50-day simple moving average of $248.26 and a 200-day simple moving average of $283.44.

McDonald’s (NYSE:MCD) last released its earnings results on Tuesday, August 4th. The fast-food giant reported $3.38 earnings per share for the quarter, topping analysts’ consensus estimates of $3.32 by $0.06. The firm had revenue of $7.10 billion for the quarter, compared to analyst estimates of $7.13 billion. McDonald’s had a net margin of 31.72% and a negative return on equity of 572.06%. The business’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.19 earnings per share. Analysts predict that McDonald’s Corporation will post 12.83 EPS for the current year.

McDonald’s Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Tuesday, December 1st will be issued a dividend of $1.93 per share. This is a boost from McDonald’s’s previous quarterly dividend of $1.86. The ex-dividend date is Tuesday, December 1st. This represents a $7.72 annualized dividend and a yield of 3.0%. McDonald’s’s dividend payout ratio (DPR) is presently 60.44%.

About McDonald’s

McDonald’s Corporation is a global quick-service restaurant company that operates and franchises restaurants under the McDonald’s brand. Its restaurants serve a menu that includes hamburgers, cheeseburgers, chicken sandwiches, French fries, breakfast items, desserts, salads, beverages and coffee. Offerings vary by market, and many locations provide drive-thru service, delivery and digital ordering through the McDonald’s mobile app.

The company operates through a heavily franchised business model, with restaurants owned and operated by independent franchisees, affiliates and the company itself.