Legacy Wealth Management LLC MS Has $1.65 Million Stock Holdings in McDonald’s Co. (NYSE:MCD)

Legacy Wealth Management LLC MS grew its position in McDonald’s Co. (NYSE:MCD) by 6.4% during the third quarter, HoldingsChannel reports. The firm owned 5,423 shares of the fast-food giant’s stock after buying an additional 328 shares during the period. Legacy Wealth Management LLC MS’s holdings in McDonald’s were worth $1,651,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Legacy Investment Solutions LLC bought a new stake in shares of McDonald’s in the 3rd quarter valued at $25,000. RPg Family Wealth Advisory LLC acquired a new position in shares of McDonald’s during the 3rd quarter valued at $31,000. Hara Capital LLC acquired a new position in shares of McDonald’s during the 3rd quarter valued at $44,000. Kings Path Partners LLC acquired a new position in shares of McDonald’s during the 2nd quarter valued at $38,000. Finally, Peterson Financial Group Inc. acquired a new position in shares of McDonald’s during the 3rd quarter valued at $58,000. 70.29% of the stock is owned by institutional investors.

McDonald’s Trading Up 0.4 %

Shares of McDonald’s stock traded up $1.15 on Friday, reaching $297.78. The stock had a trading volume of 410,067 shares, compared to its average volume of 3,457,887. McDonald’s Co. has a 1 year low of $243.53 and a 1 year high of $317.90. The company has a market cap of $213.40 billion, a P/E ratio of 26.03, a price-to-earnings-growth ratio of 3.94 and a beta of 0.73. The business’s 50 day moving average is $299.03 and its two-hundred day moving average is $280.82.

McDonald’s (NYSE:MCD) last announced its quarterly earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $6.87 billion for the quarter, compared to the consensus estimate of $6.82 billion. During the same period in the prior year, the firm posted $3.19 earnings per share. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. On average, equities analysts anticipate that McDonald’s Co. will post 11.75 EPS for the current fiscal year.

McDonald’s Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a $1.77 dividend. This is an increase from McDonald’s’s previous quarterly dividend of $1.67. This represents a $7.08 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date is Monday, December 2nd. McDonald’s’s dividend payout ratio (DPR) is currently 62.16%.

Insiders Place Their Bets

In other news, CFO Ian Frederick Borden sold 5,939 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $300.04, for a total value of $1,781,937.56. Following the completion of the sale, the chief financial officer now directly owns 20,403 shares in the company, valued at approximately $6,121,716.12. The trade was a 22.55 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Joseph M. Erlinger sold 1,099 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $292.50, for a total transaction of $321,457.50. Following the completion of the sale, the insider now owns 9,286 shares of the company’s stock, valued at approximately $2,716,155. The trade was a 10.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 34,099 shares of company stock valued at $10,273,786. 0.23% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

MCD has been the topic of a number of research reports. BMO Capital Markets boosted their target price on shares of McDonald’s from $315.00 to $335.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group boosted their target price on shares of McDonald’s from $284.00 to $325.00 and gave the company a “neutral” rating in a research report on Tuesday, September 24th. Baird R W downgraded shares of McDonald’s from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Evercore ISI upped their price objective on shares of McDonald’s from $320.00 to $340.00 and gave the stock an “outperform” rating in a report on Tuesday, October 15th. Finally, Citigroup upped their price objective on shares of McDonald’s from $301.00 to $317.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Twelve equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat, McDonald’s has a consensus rating of “Moderate Buy” and a consensus target price of $320.50.

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.