NorthCrest Asset Manangement LLC Acquires 686 Shares of McDonald’s Co. (NYSE:MCD)

NorthCrest Asset Manangement LLC increased its holdings in McDonald’s Co. (NYSE:MCD) by 32.1% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 2,826 shares of the fast-food giant’s stock after buying an additional 686 shares during the quarter. NorthCrest Asset Manangement LLC’s holdings in McDonald’s were worth $861,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of MCD. Iams Wealth Management LLC grew its position in McDonald’s by 1.0% in the 1st quarter. Iams Wealth Management LLC now owns 5,360 shares of the fast-food giant’s stock worth $1,582,000 after purchasing an additional 51 shares during the period. Cullinan Associates Inc. grew its holdings in shares of McDonald’s by 2.6% in the first quarter. Cullinan Associates Inc. now owns 89,522 shares of the fast-food giant’s stock worth $25,241,000 after acquiring an additional 2,246 shares during the period. Synergy Asset Management LLC grew its holdings in shares of McDonald’s by 40.1% in the first quarter. Synergy Asset Management LLC now owns 14,606 shares of the fast-food giant’s stock worth $4,118,000 after acquiring an additional 4,177 shares during the period. Dixon Mitchell Investment Counsel Inc. purchased a new stake in McDonald’s during the first quarter valued at $28,000. Finally, Naviter Wealth LLC purchased a new position in McDonald’s in the first quarter worth about $1,364,000. Hedge funds and other institutional investors own 70.29% of the company’s stock.

McDonald’s Price Performance

NYSE:MCD opened at $292.61 on Monday. The company has a market cap of $210.88 billion, a price-to-earnings ratio of 24.84, a PEG ratio of 4.13 and a beta of 0.73. McDonald’s Co. has a 1 year low of $243.53 and a 1 year high of $317.90. The stock’s 50 day simple moving average is $297.78 and its two-hundred day simple moving average is $274.96.

McDonald’s (NYSE:MCD) last issued its quarterly earnings data on Monday, July 29th. The fast-food giant reported $2.97 EPS for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.10). The business had revenue of $6.49 billion during the quarter, compared to analysts’ expectations of $6.62 billion. McDonald’s had a negative return on equity of 178.68% and a net margin of 32.25%. The business’s quarterly revenue was down .1% on a year-over-year basis. During the same period in the previous year, the business earned $3.17 earnings per share. As a group, analysts anticipate that McDonald’s Co. will post 11.73 EPS for the current year.

McDonald’s Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a dividend of $1.77 per share. This is a boost from McDonald’s’s previous quarterly dividend of $1.67. This represents a $7.08 annualized dividend and a yield of 2.42%. The ex-dividend date is Monday, December 2nd. McDonald’s’s payout ratio is presently 60.10%.

Wall Street Analysts Forecast Growth

MCD has been the subject of several research reports. Truist Financial upped their price target on shares of McDonald’s from $295.00 to $350.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. JPMorgan Chase & Co. lifted their price target on shares of McDonald’s from $270.00 to $290.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. Tigress Financial lifted their target price on McDonald’s from $355.00 to $360.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Guggenheim cut McDonald’s from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $290.00 to $285.00 in a research report on Wednesday, October 23rd. Finally, BMO Capital Markets decreased their price objective on McDonald’s from $330.00 to $315.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 30th. Thirteen equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $318.22.

Insider Activity

In related 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 transaction of $3,518,451.81. Following the sale, the chief executive officer now owns 49,885 shares in the company, valued at approximately $14,966,996.55. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO Christopher J. Kempczinski sold 11,727 shares of the company’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 transaction, the chief executive officer now 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 filing with the SEC, which can be accessed through this link. Also, CEO Christopher J. Kempczinski sold 9,291 shares of the firm’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $305.00, for a total value of $2,833,755.00. Following the sale, the chief executive officer now directly owns 43,256 shares of the company’s stock, valued at $13,193,080. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,097 shares of company stock valued at $10,256,818 in the last ninety days. Insiders own 0.23% of the company’s stock.

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.