Independence Bank of Kentucky Purchases 3,465 Shares of McDonald’s Co. (NYSE:MCD)

Independence Bank of Kentucky raised its position in shares of McDonald’s Co. (NYSE:MCD) by 89.9% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 7,321 shares of the fast-food giant’s stock after purchasing an additional 3,465 shares during the quarter. Independence Bank of Kentucky’s holdings in McDonald’s were worth $2,229,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Steigerwald Gordon & Koch Inc. increased its holdings in shares of McDonald’s by 2.4% in the third quarter. Steigerwald Gordon & Koch Inc. now owns 1,422 shares of the fast-food giant’s stock valued at $433,000 after purchasing an additional 33 shares during the period. Founders Financial Alliance LLC increased its holdings in shares of McDonald’s by 0.7% in the second quarter. Founders Financial Alliance LLC now owns 4,980 shares of the fast-food giant’s stock valued at $1,269,000 after purchasing an additional 36 shares during the period. 9258 Wealth Management LLC increased its holdings in shares of McDonald’s by 1.3% in the first quarter. 9258 Wealth Management LLC now owns 2,833 shares of the fast-food giant’s stock valued at $799,000 after purchasing an additional 37 shares during the period. Cohen Investment Advisors LLC increased its holdings in shares of McDonald’s by 0.4% in the third quarter. Cohen Investment Advisors LLC now owns 10,049 shares of the fast-food giant’s stock valued at $3,060,000 after purchasing an additional 37 shares during the period. Finally, Weatherly Asset Management L. P. increased its holdings in shares of McDonald’s by 0.9% in the first quarter. Weatherly Asset Management L. P. now owns 4,378 shares of the fast-food giant’s stock valued at $1,234,000 after purchasing an additional 38 shares during the period. 70.29% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other McDonald’s news, CEO Christopher J. Kempczinski sold 11,727 shares of the business’s 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 owns 49,885 shares of the company’s stock, valued at approximately $14,966,996.55. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other McDonald’s news, CEO Christopher J. Kempczinski sold 9,291 shares of the business’s stock in a transaction on Friday, September 27th. The stock was sold at an average price of $305.00, for a total transaction of $2,833,755.00. Following the transaction, the chief executive officer now owns 43,256 shares of the company’s stock, valued at approximately $13,193,080. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Christopher J. Kempczinski sold 11,727 shares of the business’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $300.03, for a total value of $3,518,451.81. Following the transaction, the chief executive officer now directly owns 49,885 shares in the company, valued at $14,966,996.55. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 31,751 shares of company stock worth $9,493,973. 0.23% of the stock is owned by corporate insiders.

McDonald’s Stock Down 0.1 %

Shares of NYSE MCD traded down $0.28 during midday trading on Friday, hitting $303.76. The stock had a trading volume of 172,239 shares, compared to its average volume of 3,368,093. The company has a market capitalization of $217.90 billion, a PE ratio of 26.60, a P/E/G ratio of 4.05 and a beta of 0.73. The stock has a 50 day simple moving average of $289.64 and a 200-day simple moving average of $272.42. McDonald’s Co. has a 1 year low of $243.53 and a 1 year high of $306.96.

McDonald’s (NYSE:MCD) last released its earnings results on Monday, July 29th. The fast-food giant reported $2.97 earnings per share for the quarter, missing the consensus estimate of $3.07 by ($0.10). The firm had revenue of $6.49 billion during the quarter, compared to analysts’ expectations of $6.62 billion. McDonald’s had a net margin of 32.25% and a negative return on equity of 178.68%. The business’s revenue was down .1% compared to the same quarter last year. During the same quarter last year, the business earned $3.17 EPS. As a group, analysts expect that McDonald’s Co. will post 11.71 earnings per share for the current fiscal year.

McDonald’s Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a $1.77 dividend. This represents a $7.08 annualized dividend and a dividend yield of 2.33%. The ex-dividend date of this dividend is Monday, December 2nd. This is an increase from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s dividend payout ratio (DPR) is 58.44%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on MCD shares. Citigroup increased their price objective on McDonald’s from $301.00 to $317.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Morgan Stanley cut their price objective on McDonald’s from $312.00 to $300.00 and set an “overweight” rating on the stock in a report on Thursday, July 11th. Robert W. Baird raised their target price on McDonald’s from $280.00 to $320.00 and gave the stock an “outperform” rating in a report on Thursday, September 26th. The Goldman Sachs Group raised their target price on McDonald’s from $284.00 to $325.00 and gave the stock a “neutral” rating in a report on Tuesday, September 24th. Finally, Wedbush reaffirmed an “outperform” rating and set a $295.00 target price on shares of McDonald’s in a report on Monday, July 29th. Ten analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, McDonald’s presently has a consensus rating of “Moderate Buy” and an average price target of $310.50.

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.