Pathstone Holdings LLC Raises Holdings in McDonald's Co. (NYSE:MCD)

Pathstone Holdings LLC boosted its position in shares of McDonald's Co. (NYSE:MCD - Free Report) by 3.9% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 118,676 shares of the fast-food giant's stock after acquiring an additional 4,410 shares during the quarter. Pathstone Holdings LLC's holdings in McDonald's were worth $36,138,000 at the end of the most recent reporting period.

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

McDonald's Stock Performance

Shares of NYSE MCD traded down $0.42 during trading on Tuesday, reaching $290.68. The stock had a trading volume of 2,352,483 shares, compared to its average volume of 3,501,425. The company has a market cap of $208.31 billion, a P/E ratio of 25.52, a PEG ratio of 3.89 and a beta of 0.74. McDonald's Co. has a fifty-two week low of $243.53 and a fifty-two week high of $317.90. The business's 50-day moving average price is $300.04 and its 200-day moving average price is $277.75.

McDonald's (NYSE:MCD - Get Free Report) last released its earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share for the quarter, beating the consensus estimate of $3.18 by $0.05. The company had revenue of $6.87 billion during the quarter, compared to the consensus estimate 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 revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the company posted $3.19 EPS. Analysts forecast that McDonald's Co. will post 11.77 EPS 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. Stockholders of record on Monday, December 2nd will be given a dividend of $1.77 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.44%. This is a positive change from McDonald's's previous quarterly dividend of $1.67. McDonald's's dividend payout ratio is currently 62.16%.

Insider Activity

In related news, insider Joseph M. Erlinger sold 1,098 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $288.70, for a total value of $316,992.60. Following the transaction, the insider now owns 12,583 shares of the company's stock, valued at $3,632,712.10. This represents a 8.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Christopher J. Kempczinski sold 11,727 shares of McDonald's stock in a transaction dated 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 sale, the chief executive officer now directly owns 49,885 shares of the company's stock, valued at $14,966,996.55. This trade represents a 19.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 35,596 shares of company stock worth $10,698,289. Corporate insiders own 0.23% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on MCD. TD Cowen reiterated a "hold" rating and issued a $300.00 target price on shares of McDonald's in a research report on Tuesday, October 29th. Loop Capital reiterated a "buy" rating on shares of McDonald's in a report on Friday, October 18th. Stifel Nicolaus reduced their target price on McDonald's from $285.00 to $265.00 and set a "hold" rating for the company in a report on Monday, July 22nd. Morgan Stanley lifted their price target on McDonald's from $296.00 to $340.00 and gave the stock an "overweight" rating in a research note on Tuesday, October 15th. Finally, Wells Fargo & Company increased their price objective on McDonald's from $285.00 to $350.00 and gave the company an "overweight" rating in a research note on Monday, October 21st. Thirteen investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $319.46.

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.