OneAscent Financial Services LLC Makes New $833,000 Investment in McDonald's Co. (NYSE:MCD)

OneAscent Financial Services LLC purchased a new position in McDonald's Co. (NYSE:MCD - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,736 shares of the fast-food giant's stock, valued at approximately $833,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Quent Capital LLC boosted its stake in McDonald's by 10.4% during the first quarter. Quent Capital LLC now owns 3,006 shares of the fast-food giant's stock valued at $848,000 after buying an additional 282 shares during the last quarter. Twin Capital Management Inc. increased its holdings in McDonald's by 1.5% during the 1st quarter. Twin Capital Management Inc. now owns 3,274 shares of the fast-food giant's stock worth $923,000 after purchasing an additional 47 shares during the period. Vaughan David Investments LLC IL increased its holdings in McDonald's by 7.5% during the 1st quarter. Vaughan David Investments LLC IL now owns 6,323 shares of the fast-food giant's stock worth $1,783,000 after purchasing an additional 442 shares during the period. Ossiam increased its holdings in shares of McDonald's by 34.9% in the 1st quarter. Ossiam now owns 22,951 shares of the fast-food giant's stock valued at $6,471,000 after acquiring an additional 5,935 shares during the period. Finally, Boulder Hill Capital Management LP purchased a new position in shares of McDonald's in the 1st quarter valued at $3,778,000. Hedge funds and other institutional investors own 70.29% of the company's stock.

McDonald's Trading Down 0.1 %

NYSE:MCD traded down $0.42 during trading hours on Tuesday, hitting $290.68. The company's stock had a trading volume of 2,352,483 shares, compared to its average volume of 3,501,425. The stock has a market capitalization of $208.31 billion, a P/E ratio of 25.52, a price-to-earnings-growth ratio of 3.89 and a beta of 0.74. The stock has a fifty day moving average of $300.04 and a 200-day moving average of $277.75. McDonald's Co. has a 52-week low of $243.53 and a 52-week high of $317.90.

McDonald's (NYSE:MCD - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.18 by $0.05. McDonald's had a net margin of 31.79% and a negative return on equity of 175.42%. The company had revenue of $6.87 billion during the quarter, compared to the consensus estimate of $6.82 billion. During the same quarter in the prior year, the firm posted $3.19 earnings per share. McDonald's's revenue for the quarter was up 2.7% on a year-over-year basis. On average, sell-side analysts forecast that McDonald's Co. will post 11.77 earnings per share for the current year.

McDonald's Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid 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 of this dividend is Monday, December 2nd. This represents a $7.08 annualized dividend and a dividend yield of 2.44%. McDonald's's dividend payout ratio is 62.16%.

Insider Activity at McDonald's

In other McDonald's news, CMO Edith Morgan Flatley sold 2,346 shares of the stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $310.00, for a total value of $727,260.00. Following the completion of the transaction, the chief marketing officer now directly owns 2,905 shares of the company's stock, valued at approximately $900,550. This trade represents a 44.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Joseph M. Erlinger sold 1,098 shares of the firm's stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $288.70, for a total transaction of $316,992.60. Following the transaction, the insider now directly owns 12,583 shares of the company's stock, valued at approximately $3,632,712.10. This trade represents a 8.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 35,596 shares of company stock worth $10,698,289 over the last 90 days. Company insiders own 0.23% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on MCD. Bank of America raised their price objective on McDonald's from $321.00 to $324.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 30th. Stifel Nicolaus cut their price target on McDonald's from $285.00 to $265.00 and set a "hold" rating for the company in a research note on Monday, July 22nd. Deutsche Bank Aktiengesellschaft cut their price target on McDonald's from $295.00 to $290.00 and set a "buy" rating for the company in a research note on Tuesday, July 30th. KeyCorp boosted their price objective on McDonald's from $305.00 to $330.00 and gave the stock an "overweight" rating in a research note on Monday, October 7th. Finally, TD Cowen restated a "hold" rating and set a $300.00 target price on shares of McDonald's in a report on Tuesday, October 29th. Thirteen equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the company 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.