Wealthfront Advisers LLC Buys 5,506 Shares of McDonald’s Corporation $MCD

Wealthfront Advisers LLC boosted its position in McDonald’s Corporation (NYSE:MCD) by 8.2% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 72,999 shares of the fast-food giant’s stock after acquiring an additional 5,506 shares during the quarter. Wealthfront Advisers LLC’s holdings in McDonald’s were worth $22,184,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Evergreen Private Wealth LLC increased its stake in McDonald’s by 162.5% during the 3rd quarter. Evergreen Private Wealth LLC now owns 84 shares of the fast-food giant’s stock valued at $26,000 after purchasing an additional 52 shares in the last quarter. Legacy Investment Solutions LLC acquired a new position in shares of McDonald’s during the second quarter valued at about $25,000. Decker Retirement Planning Inc. increased its position in shares of McDonald’s by 142.9% during the second quarter. Decker Retirement Planning Inc. now owns 85 shares of the fast-food giant’s stock worth $25,000 after acquiring an additional 50 shares in the last quarter. Financial Gravity Companies Inc. acquired a new stake in shares of McDonald’s in the 2nd quarter worth about $29,000. Finally, Traub Capital Management LLC acquired a new stake in shares of McDonald’s in the 2nd quarter worth about $29,000. Institutional investors own 70.29% of the company’s stock.

Insider Activity at McDonald’s

In other news, EVP Manuel Jm Steijaert sold 6,567 shares of the firm’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $305.50, for a total transaction of $2,006,218.50. Following the completion of the sale, the executive vice president owned 4,606 shares in the company, valued at $1,407,133. This trade represents a 58.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Joseph M. Erlinger sold 2,626 shares of McDonald’s stock in a transaction that occurred on Monday, January 12th. The stock was sold at an average price of $306.58, for a total transaction of $805,079.08. Following the completion of the sale, the insider directly owned 5,398 shares in the company, valued at $1,654,918.84. This trade represents a 32.73% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 32,008 shares of company stock worth $9,895,452. 0.25% of the stock is currently owned by corporate insiders.

McDonald’s Trading Down 0.5%

MCD stock opened at $325.57 on Tuesday. The stock has a market cap of $231.85 billion, a P/E ratio of 27.78, a P/E/G ratio of 3.31 and a beta of 0.52. The stock’s fifty day simple moving average is $311.40 and its two-hundred day simple moving average is $307.60. McDonald’s Corporation has a 1-year low of $283.47 and a 1-year high of $328.06.

McDonald’s Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 17th. Investors of record on Tuesday, March 3rd will be given a dividend of $1.86 per share. The ex-dividend date is Tuesday, March 3rd. This represents a $7.44 annualized dividend and a yield of 2.3%. McDonald’s’s dividend payout ratio is presently 63.48%.

Wall Street Analyst Weigh In

MCD has been the subject of a number of analyst reports. Wells Fargo & Company lifted their price target on McDonald’s from $340.00 to $345.00 and gave the company an “overweight” rating in a research note on Thursday, November 6th. Oppenheimer raised McDonald’s from a “market perform” rating to an “outperform” rating and set a $355.00 target price on the stock in a research report on Tuesday, January 6th. Sanford C. Bernstein reiterated an “overweight” rating and set a $372.00 price target on shares of McDonald’s in a report on Wednesday, January 7th. Citigroup dropped their price objective on McDonald’s from $381.00 to $375.00 and set a “buy” rating on the stock in a research note on Tuesday, October 21st. Finally, TD Cowen reiterated a “hold” rating on shares of McDonald’s in a research note on Thursday, January 8th. Fifteen equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $332.30.

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.