Greystone Financial Group LLC Purchases Shares of 32,238 McDonald’s Corporation $MCD

Greystone Financial Group LLC acquired a new position in McDonald’s Corporation (NYSE:MCD) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 32,238 shares of the fast-food giant’s stock, valued at approximately $9,797,000. McDonald’s accounts for 1.5% of Greystone Financial Group LLC’s holdings, making the stock its 28th biggest position.

Several other hedge funds have also recently made changes to their positions in MCD. Norges Bank bought a new stake in McDonald’s in the second quarter valued at $2,780,712,000. Laurel Wealth Advisors LLC lifted its position in shares of McDonald’s by 29,382.3% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 5,737,548 shares of the fast-food giant’s stock worth $1,676,339,000 after purchasing an additional 5,718,087 shares during the period. Soundwatch Capital LLC purchased a new stake in shares of McDonald’s in the 2nd quarter worth about $1,412,069,000. Viking Global Investors LP boosted its stake in shares of McDonald’s by 171.7% during the 2nd quarter. Viking Global Investors LP now owns 3,125,432 shares of the fast-food giant’s stock valued at $913,157,000 after purchasing an additional 1,974,998 shares in the last quarter. Finally, Amundi increased its position in shares of McDonald’s by 96.0% during the second quarter. Amundi now owns 4,032,676 shares of the fast-food giant’s stock valued at $1,188,147,000 after buying an additional 1,974,751 shares during the period. 70.29% of the stock is owned by hedge funds and other institutional investors.

McDonald’s Trading Down 0.8%

Shares of NYSE:MCD opened at $303.26 on Monday. The stock has a fifty day simple moving average of $307.87 and a two-hundred day simple moving average of $304.45. McDonald’s Corporation has a 12-month low of $276.53 and a 12-month high of $326.32. The stock has a market capitalization of $215.97 billion, a price-to-earnings ratio of 25.88, a PEG ratio of 3.08 and a beta of 0.53.

McDonald’s (NYSE:MCD) last released its earnings results on Wednesday, November 5th. The fast-food giant reported $3.22 EPS for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.11). The company had revenue of $7.08 billion during the quarter, compared to analysts’ expectations of $7.10 billion. McDonald’s had a negative return on equity of 280.89% and a net margin of 32.04%.The company’s revenue was up 3.0% on a year-over-year basis. During the same period in the prior year, the company posted $3.23 earnings per share. As a group, equities research analysts predict that McDonald’s Corporation will post 12.25 EPS for the current year.

McDonald’s Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were paid a dividend of $1.86 per share. The ex-dividend date was Monday, December 1st. This represents a $7.44 dividend on an annualized basis and a yield of 2.5%. This is an increase from McDonald’s’s previous quarterly dividend of $1.77. McDonald’s’s dividend payout ratio (DPR) is 63.48%.

Insider Activity

In related news, EVP Desiree Ralls-Morrison sold 2,486 shares of the company’s stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $320.00, for a total value of $795,520.00. Following the transaction, the executive vice president directly owned 6,268 shares of the company’s stock, valued at approximately $2,005,760. This represents a 28.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Manuel Jm Steijaert sold 13,134 shares of the stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $300.42, for a total value of $3,945,716.28. Following the sale, the executive vice president owned 4,606 shares in the company, valued at approximately $1,383,734.52. This represents a 74.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 42,516 shares of company stock valued at $13,036,090 over the last ninety days. 0.25% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on MCD shares. KeyCorp reaffirmed an “overweight” rating and set a $335.00 price objective on shares of McDonald’s in a research report on Monday, October 20th. Weiss Ratings restated a “buy (b-)” rating on shares of McDonald’s in a research report on Friday, October 31st. Citigroup decreased their price objective on McDonald’s from $381.00 to $375.00 and set a “buy” rating for the company in a report on Tuesday, October 21st. Morgan Stanley set a $335.00 price objective on McDonald’s in a research report on Friday, October 17th. Finally, BTIG Research reaffirmed a “neutral” rating on shares of McDonald’s in a research report on Friday, October 24th. Eleven research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $324.57.

McDonald’s Profile

McDonald’s Corporation (NYSE: MCD) is a global quick-service restaurant company best known for its hamburgers, French fries and breakfast offerings. The company develops, operates and franchises a system of restaurants that sell a range of food and beverage items, including signature products such as the Big Mac, Quarter Pounder, Chicken McNuggets, McCafé coffee beverages and a variety of salads, desserts and seasonal menu items. McDonald’s serves customers through company-operated restaurants and franchised locations, and it supports sales via dine-in, drive-thru, digital ordering platforms and third-party delivery partnerships.

Founded in 1940 by brothers Richard and Maurice McDonald as a single San Bernardino, California restaurant, the business was transformed into a franchising model after Ray Kroc joined in the mid-1950s and led the brand’s national and international expansion.