McDonald’s Corporation $MCD Shares Purchased by GRIMES & Co WEALTH MANAGEMENT LLC

GRIMES & Co WEALTH MANAGEMENT LLC boosted its holdings in McDonald’s Corporation (NYSE:MCD) by 20.4% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 15,152 shares of the fast-food giant’s stock after acquiring an additional 2,567 shares during the quarter. GRIMES & Co WEALTH MANAGEMENT LLC’s holdings in McDonald’s were worth $4,604,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Pinion Investment Advisors LLC grew its stake in shares of McDonald’s by 3.2% during the 3rd quarter. Pinion Investment Advisors LLC now owns 5,548 shares of the fast-food giant’s stock worth $1,697,000 after purchasing an additional 172 shares during the period. ZEGA Investments LLC boosted its holdings in McDonald’s by 96.3% during the third quarter. ZEGA Investments LLC now owns 2,952 shares of the fast-food giant’s stock worth $897,000 after buying an additional 1,448 shares in the last quarter. Janney Capital Management LLC grew its position in McDonald’s by 1.1% during the third quarter. Janney Capital Management LLC now owns 72,657 shares of the fast-food giant’s stock worth $22,080,000 after buying an additional 817 shares during the period. St. Johns Investment Management Company LLC increased its holdings in McDonald’s by 0.6% in the third quarter. St. Johns Investment Management Company LLC now owns 6,348 shares of the fast-food giant’s stock valued at $1,929,000 after buying an additional 36 shares in the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. lifted its position in shares of McDonald’s by 2.6% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 23,010 shares of the fast-food giant’s stock valued at $6,993,000 after acquiring an additional 588 shares during the period. Institutional investors and hedge funds own 70.29% of the company’s stock.

McDonald’s Stock Down 0.2%

MCD stock opened at $306.78 on Tuesday. The business has a fifty day simple moving average of $308.14 and a 200-day simple moving average of $305.16. The company has a market cap of $218.47 billion, a price-to-earnings ratio of 26.18, a PEG ratio of 3.05 and a beta of 0.53. McDonald’s Corporation has a 52 week low of $276.53 and a 52 week high of $326.32.

McDonald’s (NYSE:MCD) last issued 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). McDonald’s had a net margin of 32.04% and a negative return on equity of 280.89%. The business had revenue of $7.08 billion during the quarter, compared to analysts’ expectations of $7.10 billion. During the same period in the prior year, the business posted $3.23 EPS. The business’s revenue was up 3.0% on a year-over-year basis. As a group, analysts expect that McDonald’s Corporation will post 12.25 earnings per share for the current fiscal 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 given a $1.86 dividend. This represents a $7.44 annualized dividend and a yield of 2.4%. This is a positive change from McDonald’s’s previous quarterly dividend of $1.77. The ex-dividend date of this dividend was Monday, December 1st. McDonald’s’s dividend payout ratio is 63.48%.

Insider Activity

In other news, insider Joseph M. Erlinger sold 3,195 shares of the business’s stock in a transaction on Friday, November 14th. The shares were sold at an average price of $305.82, for a total transaction of $977,094.90. Following the transaction, the insider directly owned 6,088 shares of the company’s stock, valued at approximately $1,861,832.16. The trade was a 34.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Ian Frederick Borden sold 17,134 shares of the company’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $310.00, for a total transaction of $5,311,540.00. Following the completion of the transaction, the chief financial officer owned 26,353 shares of the company’s stock, valued at $8,169,430. This trade represents a 39.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 42,516 shares of company stock worth $13,036,090. Company insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on MCD. KeyCorp upped their price target on McDonald’s from $335.00 to $340.00 and gave the stock an “overweight” rating in a report on Friday. Sanford C. Bernstein reissued an “overweight” rating and issued a $372.00 target price on shares of McDonald’s in a report on Wednesday, January 7th. Mizuho upgraded McDonald’s to a “hold” rating in a research report on Tuesday, October 28th. Citigroup cut their price target on McDonald’s from $381.00 to $375.00 and set a “buy” rating for the company in a research note on Tuesday, October 21st. Finally, Piper Sandler reissued a “neutral” rating and issued a $325.00 price objective on shares of McDonald’s in a research note on Wednesday, October 22nd. Thirteen equities research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, McDonald’s presently has a consensus rating of “Hold” and an average target price of $328.88.

About McDonald’s

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.