Cerity Partners LLC Increases Position in McDonald’s Co. (NYSE:MCD)

Cerity Partners LLC increased its stake in shares of McDonald’s Co. (NYSE:MCD) by 6.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 448,676 shares of the fast-food giant’s stock after buying an additional 28,001 shares during the period. Cerity Partners LLC owned about 0.06% of McDonald’s worth $136,627,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in MCD. Certified Advisory Corp raised its stake in shares of McDonald’s by 20.9% during the 3rd quarter. Certified Advisory Corp now owns 1,493 shares of the fast-food giant’s stock worth $455,000 after buying an additional 258 shares during the last quarter. Great Valley Advisor Group Inc. lifted its holdings in shares of McDonald’s by 26.8% in the third quarter. Great Valley Advisor Group Inc. now owns 61,127 shares of the fast-food giant’s stock valued at $18,614,000 after purchasing an additional 12,917 shares in the last quarter. Leelyn Smith LLC grew its position in shares of McDonald’s by 2.3% in the third quarter. Leelyn Smith LLC now owns 20,191 shares of the fast-food giant’s stock valued at $6,148,000 after purchasing an additional 454 shares during the last quarter. GenTrust LLC purchased a new position in shares of McDonald’s during the 3rd quarter worth approximately $341,000. Finally, Financial Council LLC acquired a new position in shares of McDonald’s during the 3rd quarter worth approximately $213,000. 70.29% of the stock is owned by hedge funds and other institutional investors.

McDonald’s Price Performance

MCD opened at $290.30 on Friday. McDonald’s Co. has a 1 year low of $243.53 and a 1 year high of $317.90. The company has a market capitalization of $208.03 billion, a price-to-earnings ratio of 25.49, a P/E/G ratio of 3.84 and a beta of 0.74. The business’s 50-day moving average price is $299.85 and its two-hundred day moving average price is $278.06.

McDonald’s (NYSE:MCD) 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 analysts’ consensus estimates of $3.18 by $0.05. The company had revenue of $6.87 billion during the quarter, compared to analysts’ expectations of $6.82 billion. McDonald’s had a negative return on equity of 175.42% and a net margin of 31.79%. The business’s revenue was up 2.7% on a year-over-year basis. During the same period last year, the firm posted $3.19 earnings per share. Sell-side analysts anticipate that McDonald’s Co. will post 11.77 earnings per share for the current fiscal year.

McDonald’s Increases Dividend

The business also recently declared 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 represents a $7.08 dividend on an annualized basis and a yield of 2.44%. The ex-dividend date of this dividend is Monday, December 2nd. This is an increase from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s payout ratio is 58.65%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Jefferies Financial Group boosted their price target on McDonald’s from $310.00 to $330.00 and gave the stock a “buy” rating in a report on Monday, September 9th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of McDonald’s from $295.00 to $290.00 and set a “buy” rating on the stock in a research note on Tuesday, July 30th. Wedbush reissued an “outperform” rating and set a $295.00 price objective on shares of McDonald’s in a research note on Wednesday, October 23rd. Guggenheim cut shares of McDonald’s from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $290.00 to $285.00 in a research note on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. boosted their price target on McDonald’s from $270.00 to $290.00 and gave the company an “overweight” rating in a report on Monday, September 16th. 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.com, McDonald’s has a consensus rating of “Moderate Buy” and a consensus target price of $319.46.

Insider Transactions at McDonald’s

In other McDonald’s news, CFO Ian Frederick Borden sold 5,939 shares of the stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $300.04, for a total value of $1,781,937.56. Following the completion of the transaction, the chief financial officer now directly owns 20,403 shares in the company, valued at approximately $6,121,716.12. This trade represents a 22.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Christopher J. Kempczinski sold 11,727 shares of McDonald’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $300.03, for a total transaction of $3,518,451.81. Following the transaction, the chief executive officer now owns 49,885 shares in the company, valued at approximately $14,966,996.55. This trade represents a 19.03 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 34,498 shares of company stock valued at $10,381,296. Company insiders own 0.23% of the company’s stock.

About McDonald’s

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.