Biondo Investment Advisors LLC grew its position in shares of Mcdonald’s Corp (NYSE:MCD) by 2.4% in the third quarter, HoldingsChannel reports. The firm owned 30,118 shares of the fast-food giant’s stock after buying an additional 705 shares during the quarter. Mcdonald’s accounts for approximately 1.2% of Biondo Investment Advisors LLC’s investment portfolio, making the stock its 26th largest holding. Biondo Investment Advisors LLC’s holdings in Mcdonald’s were worth $5,069,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Main Street Research LLC lifted its holdings in shares of Mcdonald’s by 1.0% in the 3rd quarter. Main Street Research LLC now owns 30,944 shares of the fast-food giant’s stock valued at $5,177,000 after acquiring an additional 299 shares during the last quarter. Howard Capital Management lifted its stake in Mcdonald’s by 1.7% in the third quarter. Howard Capital Management now owns 18,127 shares of the fast-food giant’s stock worth $3,032,000 after purchasing an additional 300 shares during the last quarter. Palisade Asset Management LLC lifted its stake in Mcdonald’s by 0.4% in the third quarter. Palisade Asset Management LLC now owns 75,193 shares of the fast-food giant’s stock worth $12,579,000 after purchasing an additional 300 shares during the last quarter. Gilman Hill Asset Management LLC lifted its stake in Mcdonald’s by 13.4% in the third quarter. Gilman Hill Asset Management LLC now owns 2,531 shares of the fast-food giant’s stock worth $423,000 after purchasing an additional 300 shares during the last quarter. Finally, Parsec Financial Management Inc. lifted its stake in Mcdonald’s by 8.3% in the third quarter. Parsec Financial Management Inc. now owns 3,933 shares of the fast-food giant’s stock worth $658,000 after purchasing an additional 300 shares during the last quarter. Hedge funds and other institutional investors own 67.08% of the company’s stock.

Several analysts have issued reports on the stock. Goldman Sachs Group raised their price objective on shares of Mcdonald’s from $179.00 to $190.00 and gave the stock a “buy” rating in a research note on Tuesday, September 11th. Royal Bank of Canada set a $190.00 price objective on shares of Mcdonald’s and gave the stock a “buy” rating in a research note on Wednesday, October 24th. Gordon Haskett assumed coverage on shares of Mcdonald’s in a research note on Thursday, October 18th. They issued a “buy” rating and a $185.00 price objective for the company. SunTrust Banks raised their price objective on shares of Mcdonald’s to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, October 24th. Finally, Imperial Capital decreased their price objective on shares of Mcdonald’s from $190.00 to $175.00 and set an “outperform” rating for the company in a research note on Friday, July 27th. Eight investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. Mcdonald’s presently has an average rating of “Buy” and an average price target of $189.62.

Mcdonald’s stock opened at $187.59 on Monday. Mcdonald’s Corp has a fifty-two week low of $146.84 and a fifty-two week high of $187.77. The company has a market cap of $144.62 billion, a PE ratio of 28.17, a P/E/G ratio of 2.75 and a beta of 0.53.

Mcdonald’s (NYSE:MCD) last posted its quarterly earnings results on Tuesday, October 23rd. The fast-food giant reported $2.10 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.99 by $0.11. Mcdonald’s had a net margin of 24.56% and a negative return on equity of 116.43%. The firm had revenue of $5.37 billion during the quarter, compared to the consensus estimate of $5.28 billion. During the same quarter in the previous year, the firm posted $1.76 earnings per share. The company’s revenue was down 6.7% on a year-over-year basis. On average, sell-side analysts expect that Mcdonald’s Corp will post 7.76 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, December 17th. Stockholders of record on Monday, December 3rd will be paid a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a dividend yield of 2.47%. The ex-dividend date of this dividend is Friday, November 30th. This is an increase from Mcdonald’s’s previous quarterly dividend of $1.01. Mcdonald’s’s payout ratio is currently 60.66%.

In related news, insider Ian Frederick Borden sold 4,782 shares of Mcdonald’s stock in a transaction that occurred on Thursday, October 25th. The shares were sold at an average price of $177.68, for a total transaction of $849,665.76. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Stephen Easterbrook sold 201,123 shares of Mcdonald’s stock in a transaction that occurred on Wednesday, October 24th. The shares were sold at an average price of $175.63, for a total transaction of $35,323,232.49. Following the transaction, the chief executive officer now directly owns 48,925 shares in the company, valued at $8,592,697.75. The disclosure for this sale can be found here. Insiders have sold 221,041 shares of company stock valued at $38,839,407 in the last ninety days. Insiders own 0.22% of the company’s stock.

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Mcdonald’s Company Profile

McDonald's Corporation operates and franchises McDonald's restaurants in the United States and internationally. Its restaurants offer various food products, soft drinks, coffee, and other beverages, as well as breakfast menu. As of December 31, 2017, the company operated 37,241 restaurants, including 34,108 franchised restaurants comprising 21,366 franchised to conventional franchisees, 6,945 licensed to developmental licensees, and 5,797 licensed to foreign affiliates; and 3,133 company-operated restaurants.

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Institutional Ownership by Quarter for Mcdonald`s (NYSE:MCD)

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