Buckingham Strategic Wealth LLC Grows Stock Holdings in McDonald’s Co. (NYSE:MCD)

Buckingham Strategic Wealth LLC lifted its position in shares of McDonald’s Co. (NYSE:MCD) by 3.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 36,557 shares of the fast-food giant’s stock after purchasing an additional 1,308 shares during the period. Buckingham Strategic Wealth LLC’s holdings in McDonald’s were worth $8,814,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. Clear Perspectives Financial Planning LLC raised its stake in McDonald’s by 50.0% during the 3rd quarter. Clear Perspectives Financial Planning LLC now owns 123 shares of the fast-food giant’s stock worth $30,000 after acquiring an additional 41 shares in the last quarter. Guidance Point Advisors LLC acquired a new stake in McDonald’s during the 3rd quarter worth $34,000. PFG Private Wealth Management LLC acquired a new stake in McDonald’s during the 3rd quarter worth $34,000. Monumental Financial Group Inc. acquired a new stake in McDonald’s during the 2nd quarter worth $35,000. Finally, Canton Hathaway LLC acquired a new stake in McDonald’s during the 3rd quarter worth $40,000. 66.54% of the stock is owned by institutional investors and hedge funds.

In related news, insider Joseph M. Erlinger sold 4,324 shares of the company’s stock in a transaction that occurred on Friday, October 29th. The shares were sold at an average price of $245.41, for a total transaction of $1,061,152.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.25% of the company’s stock.

Several brokerages recently commented on MCD. Royal Bank of Canada lifted their price target on shares of McDonald’s from $268.00 to $280.00 and gave the stock an “outperform” rating in a research note on Thursday, October 28th. Credit Suisse Group lifted their price objective on shares of McDonald’s from $271.00 to $281.00 and gave the company an “outperform” rating in a research note on Thursday, October 28th. KeyCorp lifted their price objective on shares of McDonald’s from $270.00 to $275.00 and gave the company an “overweight” rating in a research note on Thursday, October 28th. Oppenheimer lifted their price objective on shares of McDonald’s from $270.00 to $280.00 and gave the company an “outperform” rating in a research note on Thursday, October 28th. They noted that the move was a valuation call. Finally, Stifel Nicolaus lifted their price objective on shares of McDonald’s from $245.00 to $260.00 and gave the company a “hold” rating in a research note on Thursday, October 28th. Five analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $273.48.

Shares of NYSE:MCD traded down $2.96 during trading on Friday, reaching $258.45. The stock had a trading volume of 58,796 shares, compared to its average volume of 2,342,957. The business has a fifty day moving average price of $259.22 and a 200-day moving average price of $246.62. The stock has a market cap of $193.12 billion, a P/E ratio of 26.82, a PEG ratio of 2.25 and a beta of 0.60. McDonald’s Co. has a fifty-two week low of $202.73 and a fifty-two week high of $271.15.

McDonald’s (NYSE:MCD) last posted its quarterly earnings data on Wednesday, October 27th. The fast-food giant reported $2.76 earnings per share for the quarter, beating analysts’ consensus estimates of $2.46 by $0.30. The business had revenue of $6.20 billion during the quarter, compared to analyst estimates of $6.04 billion. McDonald’s had a net margin of 32.33% and a negative return on equity of 99.00%. The company’s revenue was up 14.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.22 earnings per share. Equities analysts anticipate that McDonald’s Co. will post 9.41 earnings per share for the current fiscal year.

McDonald’s Profile

McDonald’s Corp. engages in the operation and franchising of restaurants. It operates through the following segments: U.S.; International Operated Markets, and International Developmental Licensed Markets and Corporate. The U.S. segment focuses its operations in the United States. The International Operated Markets segment comprises operations and franchising of restaurant in Australia, Canada, France, Germany, Italy, the Netherlands, Russia, Spain, and the U.K.

Further Reading: P/E Growth (PEG)

Institutional Ownership by Quarter for McDonald's (NYSE:MCD)

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