First Horizon Advisors Inc. Has $38.09 Million Stock Position in McDonald's Co. (NYSE:MCD)

First Horizon Advisors Inc. grew its stake in McDonald's Co. (NYSE:MCD - Free Report) by 7.7% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 125,079 shares of the fast-food giant's stock after buying an additional 8,891 shares during the quarter. McDonald's accounts for approximately 1.1% of First Horizon Advisors Inc.'s portfolio, making the stock its 20th biggest position. First Horizon Advisors Inc.'s holdings in McDonald's were worth $38,088,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in MCD. Steigerwald Gordon & Koch Inc. grew its position in McDonald's by 2.4% during the 3rd quarter. Steigerwald Gordon & Koch Inc. now owns 1,422 shares of the fast-food giant's stock worth $433,000 after purchasing an additional 33 shares in the last quarter. Riversedge Advisors LLC boosted its position in shares of McDonald's by 2.0% in the third quarter. Riversedge Advisors LLC now owns 1,686 shares of the fast-food giant's stock worth $513,000 after buying an additional 33 shares during the period. Proquility Private Wealth Partners LLC grew its holdings in shares of McDonald's by 1.0% during the third quarter. Proquility Private Wealth Partners LLC now owns 3,472 shares of the fast-food giant's stock valued at $1,057,000 after buying an additional 35 shares in the last quarter. Clear Creek Financial Management LLC raised its position in McDonald's by 2.8% during the third quarter. Clear Creek Financial Management LLC now owns 1,300 shares of the fast-food giant's stock valued at $396,000 after buying an additional 35 shares during the period. Finally, GDS Wealth Management lifted its stake in McDonald's by 1.4% in the 3rd quarter. GDS Wealth Management now owns 2,504 shares of the fast-food giant's stock worth $762,000 after acquiring an additional 35 shares in the last quarter. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on MCD. Morgan Stanley upped their target price on McDonald's from $296.00 to $340.00 and gave the company an "overweight" rating in a report on Tuesday, October 15th. Bank of America increased their target price on shares of McDonald's from $321.00 to $324.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 30th. Tigress Financial upped their price target on shares of McDonald's from $355.00 to $360.00 and gave the stock a "buy" rating in a research note on Tuesday, September 3rd. The Goldman Sachs Group increased their price objective on McDonald's from $284.00 to $325.00 and gave the stock a "neutral" rating in a report on Tuesday, September 24th. Finally, TD Cowen reaffirmed a "hold" rating and issued a $300.00 target price on shares of McDonald's in a research report on Tuesday, October 29th. Thirteen analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $319.46.

Insiders Place Their Bets

In related news, EVP Marion K. Gross sold 1,498 shares of the company's stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $286.36, for a total value of $428,967.28. Following the completion of the sale, the executive vice president now owns 1,560 shares in the company, valued at approximately $446,721.60. This represents a 48.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Joseph M. Erlinger sold 1,098 shares of the business's stock in a transaction dated 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. The trade was a 8.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 35,596 shares of company stock valued at $10,698,289. 0.23% of the stock is currently owned by corporate insiders.

McDonald's Stock Up 0.1 %

MCD traded up $0.16 during trading on Wednesday, reaching $290.89. 2,524,679 shares of the company's stock were exchanged, compared to its average volume of 3,497,092. McDonald's Co. has a fifty-two week low of $243.53 and a fifty-two week high of $317.90. The company has a market capitalization of $208.46 billion, a P/E ratio of 25.55, a PEG ratio of 3.89 and a beta of 0.74. The business has a 50 day moving average price of $300.04 and a 200 day moving average price of $277.75.

McDonald's (NYSE:MCD - Get Free Report) last released its quarterly 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 for 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%. McDonald's's revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the prior year, the company earned $3.19 EPS. As a group, research analysts forecast that McDonald's Co. will post 11.77 EPS for the current 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 $1.77 dividend. This represents a $7.08 annualized dividend and a yield of 2.43%. The ex-dividend date of this dividend is Monday, December 2nd. This is a boost from McDonald's's previous quarterly dividend of $1.67. McDonald's's payout ratio is 62.16%.

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.