Castle Wealth Management LLC Boosts Stake in McDonald’s Co. (NYSE:MCD)

Castle Wealth Management LLC lifted its holdings in McDonald’s Co. (NYSE:MCD) by 13.7% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,483 shares of the fast-food giant’s stock after buying an additional 300 shares during the period. Castle Wealth Management LLC’s holdings in McDonald’s were worth $756,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Kings Path Partners LLC bought a new position in McDonald’s in the 2nd quarter valued at $38,000. Opal Wealth Advisors LLC bought a new position in McDonald’s during the second quarter valued at about $59,000. Bbjs Financial Advisors LLC purchased a new stake in McDonald’s during the second quarter worth about $65,000. Macroview Investment Management LLC raised its position in McDonald’s by 433.3% in the second quarter. Macroview Investment Management LLC now owns 256 shares of the fast-food giant’s stock worth $65,000 after acquiring an additional 208 shares during the period. Finally, Lynx Investment Advisory purchased a new position in McDonald’s in the second quarter valued at about $75,000. 70.29% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on MCD shares. Guggenheim lowered shares of McDonald’s from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $290.00 to $285.00 in a research note on Wednesday, October 23rd. Bank of America raised their target price on McDonald’s from $321.00 to $324.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Argus upgraded McDonald’s from a “hold” rating to a “buy” rating in a research note on Tuesday, October 8th. The Goldman Sachs Group increased their price target on McDonald’s from $284.00 to $325.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 24th. Finally, Loop Capital restated a “buy” rating on shares of McDonald’s in a research note on Friday, October 18th. Thirteen investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $319.46.

McDonald’s Trading Down 0.0 %

Shares of MCD opened at $293.89 on Thursday. McDonald’s Co. has a 12-month low of $243.53 and a 12-month high of $317.90. The company has a market cap of $210.82 billion, a PE ratio of 25.81, a price-to-earnings-growth ratio of 3.89 and a beta of 0.74. The stock has a 50-day moving average price of $298.74 and a 200-day moving average price of $276.35.

McDonald’s (NYSE:MCD) 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. McDonald’s had a net margin of 31.79% and a negative return on equity of 178.99%. The business had revenue of $6.87 billion during the quarter, compared to analysts’ expectations of $6.82 billion. During the same quarter in the previous year, the company earned $3.19 EPS. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. As a group, analysts predict that McDonald’s Co. will post 11.77 earnings per share for the current year.

McDonald’s Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a dividend of $1.77 per share. The ex-dividend date is Monday, December 2nd. This is a positive change from McDonald’s’s previous quarterly dividend of $1.67. This represents a $7.08 annualized dividend and a dividend yield of 2.41%. McDonald’s’s dividend payout ratio is 62.16%.

Insiders Place Their Bets

In other McDonald’s news, insider Joseph M. Erlinger sold 1,098 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $288.70, for a total transaction of $316,992.60. Following the completion of the sale, the insider now directly owns 12,583 shares in the company, valued at $3,632,712.10. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other McDonald’s news, EVP Marion K. Gross sold 1,498 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $286.36, for a total value of $428,967.28. Following the transaction, the executive vice president now owns 1,560 shares in the company, valued at approximately $446,721.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Joseph M. Erlinger sold 1,098 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $288.70, for a total transaction of $316,992.60. Following the sale, the insider now owns 12,583 shares of the company’s stock, valued at approximately $3,632,712.10. This represents a 0.00 % 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 valued at $10,698,289 over the last quarter. 0.23% of the stock is owned by corporate insiders.

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.