Penn Davis Mcfarland Inc. Buys Shares of 21,253 McDonald’s Co. (NYSE:MCD)

Penn Davis Mcfarland Inc. acquired a new position in McDonald’s Co. (NYSE:MCD) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 21,253 shares of the fast-food giant’s stock, valued at approximately $6,472,000. McDonald’s accounts for 0.7% of Penn Davis Mcfarland Inc.’s investment portfolio, making the stock its 29th largest position.

Several other institutional investors have also recently made changes to their positions in the business. Allspring Global Investments Holdings LLC lifted its stake in shares of McDonald’s by 21.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 140,807 shares of the fast-food giant’s stock worth $42,877,000 after purchasing an additional 24,787 shares during the period. Compass Ion Advisors LLC lifted its stake in shares of McDonald’s by 5.7% in the 3rd quarter. Compass Ion Advisors LLC now owns 1,696 shares of the fast-food giant’s stock worth $516,000 after purchasing an additional 91 shares during the period. Vest Financial LLC lifted its stake in shares of McDonald’s by 20.1% in the 3rd quarter. Vest Financial LLC now owns 194,322 shares of the fast-food giant’s stock worth $59,173,000 after purchasing an additional 32,456 shares during the period. Capital Wealth Management LLC bought a new position in shares of McDonald’s in the 3rd quarter worth approximately $210,000. Finally, Buckley Wealth Management LLC increased its holdings in McDonald’s by 9.0% in the 3rd quarter. Buckley Wealth Management LLC now owns 4,356 shares of the fast-food giant’s stock worth $1,327,000 after acquiring an additional 360 shares in the last quarter. Institutional investors own 70.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on MCD. TD Cowen increased their target price on shares of McDonald’s from $280.00 to $300.00 and gave the stock a “hold” rating in a report on Wednesday, October 16th. Evercore ISI increased their target price on shares of McDonald’s from $320.00 to $340.00 and gave the stock an “outperform” rating in a report on Tuesday, October 15th. Argus raised shares of McDonald’s from a “hold” rating to a “buy” rating in a report on Tuesday, October 8th. Truist Financial increased their target price on shares of McDonald’s from $295.00 to $350.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Finally, The Goldman Sachs Group increased their price objective on shares of McDonald’s from $284.00 to $325.00 and gave the company a “neutral” rating in a report on Tuesday, September 24th. Ten analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat, McDonald’s currently has a consensus rating of “Moderate Buy” and a consensus target price of $315.69.

McDonald’s Stock Up 0.6 %

MCD stock opened at $316.56 on Monday. McDonald’s Co. has a twelve month low of $243.53 and a twelve month high of $317.18. The stock has a market capitalization of $228.14 billion, a price-to-earnings ratio of 26.87, a price-to-earnings-growth ratio of 4.05 and a beta of 0.73. The firm’s fifty day simple moving average is $294.62 and its two-hundred day simple moving average is $273.69.

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

McDonald’s Increases Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Monday, December 2nd. This is a positive change from McDonald’s’s previous quarterly dividend of $1.67. This represents a $7.08 dividend on an annualized basis and a yield of 2.24%. McDonald’s’s dividend payout ratio is 60.10%.

Insider Buying and Selling

In other McDonald’s news, CEO Christopher J. Kempczinski sold 11,727 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $300.03, for a total value of $3,518,451.81. Following the completion of the transaction, the chief executive officer now directly owns 49,885 shares in the company, valued at approximately $14,966,996.55. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other McDonald’s news, CEO Christopher J. Kempczinski sold 11,727 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $300.03, for a total value of $3,518,451.81. Following the completion of the transaction, the chief executive officer now directly owns 49,885 shares in the company, valued at approximately $14,966,996.55. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Joseph M. Erlinger sold 1,098 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $288.70, for a total transaction of $316,992.60. Following the completion of the transaction, the insider now owns 12,583 shares of the company’s stock, valued at $3,632,712.10. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 34,097 shares of company stock valued at $10,221,233 over the last three months. 0.23% of the stock is owned by company insiders.

McDonald’s Company 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.