Polaris Wealth Advisory Group LLC decreased its stake in shares of McDonald's Co. (NYSE:MCD) by 16.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,968 shares of the fast-food giant’s stock after selling 376 shares during the quarter. Polaris Wealth Advisory Group LLC’s holdings in McDonald's were worth $445,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in MCD. AE Wealth Management LLC grew its holdings in shares of McDonald's by 43.0% in the second quarter. AE Wealth Management LLC now owns 75,694 shares of the fast-food giant’s stock worth $13,963,000 after acquiring an additional 22,773 shares during the period. Kentucky Retirement Systems Insurance Trust Fund bought a new stake in shares of McDonald's in the second quarter worth $3,374,000. RDA Financial Network bought a new stake in shares of McDonald's in the second quarter worth $218,000. Raymond James Financial Services Advisors Inc. grew its holdings in shares of McDonald's by 4.2% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 368,321 shares of the fast-food giant’s stock worth $67,951,000 after acquiring an additional 14,683 shares during the period. Finally, TCI Wealth Advisors Inc. grew its holdings in shares of McDonald's by 0.4% in the second quarter. TCI Wealth Advisors Inc. now owns 24,654 shares of the fast-food giant’s stock worth $4,548,000 after acquiring an additional 94 shares during the period. Institutional investors and hedge funds own 66.07% of the company’s stock.
NYSE:MCD opened at $229.37 on Friday. The company has a market capitalization of $170.67 billion, a P/E ratio of 36.35, a P/E/G ratio of 5.25 and a beta of 0.67. McDonald's Co. has a 12 month low of $124.23 and a 12 month high of $231.91. The business’s 50-day moving average is $219.28 and its 200 day moving average is $196.08.
McDonald's (NYSE:MCD) last posted its earnings results on Tuesday, July 28th. The fast-food giant reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.10). The firm had revenue of $3.76 billion during the quarter, compared to analysts’ expectations of $3.73 billion. McDonald's had a negative return on equity of 52.78% and a net margin of 24.78%. McDonald's’s quarterly revenue was down 29.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.05 earnings per share. Equities research analysts predict that McDonald's Co. will post 5.96 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Tuesday, December 1st will be given a $1.29 dividend. This is an increase from McDonald's’s previous quarterly dividend of $1.25. This represents a $5.16 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date is Monday, November 30th. McDonald's’s payout ratio is currently 63.78%.
Several brokerages recently commented on MCD. UBS Group lifted their price objective on McDonald's from $215.00 to $230.00 and gave the stock a “neutral” rating in a report on Monday, September 14th. BofA Securities lifted their target price on McDonald's from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Monday, October 5th. JPMorgan Chase & Co. lifted their target price on McDonald's from $180.00 to $204.00 and gave the company an “overweight” rating in a research report on Wednesday, June 24th. Oppenheimer reiterated a “hold” rating on shares of McDonald's in a research report on Tuesday, July 28th. Finally, BTIG Research lifted their target price on McDonald's from $220.00 to $245.00 and gave the company a “buy” rating in a research report on Friday, October 9th. Eight analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $222.43.
McDonald's Corporation operates and franchises McDonald's restaurants in the United States and internationally. Its restaurants offer various food products and beverages, as well as breakfast menu. As of December 31, 2019, the company operated 38,695 restaurants. McDonald's Corporation was founded in 1940 and is based in Chicago, Illinois.
Recommended Story: What is Cost of Debt?
Want to see what other hedge funds are holding MCD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for McDonald's Co. (NYSE:MCD).
Receive News & Ratings for McDonald's Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for McDonald's and related companies with MarketBeat.com's FREE daily email newsletter.