Iron Horse Wealth Management LLC Grows Position in McDonald’s Co. (NYSE:MCD)

Iron Horse Wealth Management LLC grew its holdings in shares of McDonald’s Co. (NYSE:MCD) by 24.6% in the third quarter, HoldingsChannel.com reports. The fund owned 329 shares of the fast-food giant’s stock after purchasing an additional 65 shares during the period. Iron Horse Wealth Management LLC’s holdings in McDonald’s were worth $100,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of MCD. Dixon Mitchell Investment Counsel Inc. bought a new stake in McDonald’s during the first quarter valued at approximately $28,000. Kings Path Partners LLC bought a new stake in shares of McDonald’s during the 2nd quarter worth $38,000. Keener Financial Planning LLC lifted its holdings in shares of McDonald’s by 32.3% during the 1st quarter. Keener Financial Planning LLC now owns 176 shares of the fast-food giant’s stock worth $50,000 after acquiring an additional 43 shares during the last quarter. Opal Wealth Advisors LLC bought a new position in McDonald’s in the second quarter valued at $59,000. Finally, Redmont Wealth Advisors LLC purchased a new stake in McDonald’s during the first quarter valued at about $69,000. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Analyst Upgrades and Downgrades

MCD has been the subject of a number of research reports. Citigroup upped their price objective on McDonald’s from $301.00 to $317.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Robert W. Baird lowered McDonald’s from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $320.00 to $290.00 in a research note on Wednesday. Evercore ISI lifted their price target on shares of McDonald’s from $320.00 to $340.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 15th. UBS Group upped their price objective on shares of McDonald’s from $305.00 to $345.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Finally, Loop Capital reiterated a “buy” rating on shares of McDonald’s in a research report on Friday, October 18th. Twelve research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to MarketBeat, McDonald’s has a consensus rating of “Moderate Buy” and an average price target of $318.22.

Insider Transactions at McDonald’s

In related news, CEO Christopher J. Kempczinski sold 11,727 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 49,885 shares of the company’s stock, valued at $14,966,996.55. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Christopher J. Kempczinski sold 11,727 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $300.03, for a total value of $3,518,451.81. Following the sale, the chief executive officer now directly owns 49,885 shares of the company’s stock, valued at approximately $14,966,996.55. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CMO Edith Morgan Flatley sold 2,346 shares of McDonald’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $310.00, for a total value of $727,260.00. Following the completion of the transaction, the chief marketing officer now directly owns 2,905 shares of the company’s stock, valued at approximately $900,550. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 32,998 shares of company stock valued at $9,935,493 in the last ninety days. 0.23% of the stock is currently owned by corporate insiders.

McDonald’s Stock Down 5.1 %

NYSE MCD opened at $298.75 on Thursday. The firm has a market capitalization of $215.30 billion, a PE ratio of 25.36, a P/E/G ratio of 4.05 and a beta of 0.73. The stock’s 50 day moving average is $296.97 and its 200 day moving average is $274.51. McDonald’s Co. has a twelve month low of $243.53 and a twelve month high of $317.90.

McDonald’s (NYSE:MCD) last released its earnings results on Monday, July 29th. The fast-food giant reported $2.97 earnings per share for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.10). McDonald’s had a negative return on equity of 178.68% and a net margin of 32.25%. The business had revenue of $6.49 billion during the quarter, compared to analysts’ expectations of $6.62 billion. During the same period in the prior year, the company earned $3.17 earnings per share. The firm’s quarterly revenue was down .1% compared to the same quarter last year. On average, research analysts anticipate that McDonald’s Co. will post 11.71 earnings per share for the current year.

McDonald’s Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a dividend of $1.77 per share. This represents a $7.08 annualized dividend and a dividend yield of 2.37%. This is a positive change from McDonald’s’s previous quarterly dividend of $1.67. The ex-dividend date of this dividend is Monday, December 2nd. McDonald’s’s dividend payout ratio (DPR) is presently 60.10%.

McDonald’s 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.