Connable Office Inc. Makes New Investment in McDonald’s Corporation $MCD

Connable Office Inc. purchased a new stake in McDonald’s Corporation (NYSE:MCD) in the 2nd quarter, according to its most recent filing with the SEC. The fund purchased 928 shares of the fast-food giant’s stock, valued at approximately $271,000.

Other institutional investors also recently bought and sold shares of the company. Nova Wealth Management Inc. acquired a new position in McDonald’s in the 1st quarter valued at $26,000. HFM Investment Advisors LLC acquired a new position in McDonald’s in the 1st quarter valued at $26,000. Abound Financial LLC purchased a new stake in shares of McDonald’s during the 1st quarter valued at $30,000. GFG Capital LLC purchased a new stake in shares of McDonald’s during the 2nd quarter valued at $29,000. Finally, Financial Gravity Asset Management Inc. purchased a new stake in shares of McDonald’s during the 1st quarter valued at $31,000. 70.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently issued reports on MCD. Stifel Nicolaus boosted their price objective on shares of McDonald’s from $300.00 to $315.00 and gave the company a “hold” rating in a research note on Friday, August 22nd. Mizuho raised shares of McDonald’s to a “hold” rating in a research note on Tuesday, October 28th. BMO Capital Markets boosted their price objective on shares of McDonald’s from $350.00 to $360.00 and gave the company an “outperform” rating in a research note on Thursday, September 4th. KeyCorp reissued an “overweight” rating and set a $335.00 price objective on shares of McDonald’s in a research note on Monday, October 20th. Finally, Bank of America lowered their price objective on shares of McDonald’s from $327.00 to $322.00 and set a “neutral” rating for the company in a research note on Friday, July 18th. Eleven research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $323.43.

Insider Transactions at McDonald’s

In other news, CMO Edith Morgan Flatley sold 1,000 shares of the stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $315.00, for a total transaction of $315,000.00. Following the transaction, the chief marketing officer owned 6,858 shares of the company’s stock, valued at approximately $2,160,270. This trade represents a 12.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Desiree Ralls-Morrison sold 2,487 shares of the stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $310.00, for a total transaction of $770,970.00. Following the transaction, the executive vice president directly owned 8,754 shares in the company, valued at $2,713,740. The trade was a 22.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 4,487 shares of company stock valued at $1,395,970. Insiders own 0.25% of the company’s stock.

McDonald’s Price Performance

NYSE:MCD opened at $296.09 on Tuesday. The firm has a 50-day moving average of $305.35 and a two-hundred day moving average of $305.33. The stock has a market cap of $211.29 billion, a P/E ratio of 25.37, a PEG ratio of 3.23 and a beta of 0.50. McDonald’s Corporation has a 1-year low of $276.53 and a 1-year high of $326.32.

McDonald’s (NYSE:MCD) last posted its quarterly earnings data on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share for the quarter, beating analysts’ consensus estimates of $3.15 by $0.04. The company had revenue of $6.84 billion during the quarter, compared to analysts’ expectations of $6.68 billion. McDonald’s had a net margin of 32.21% and a negative return on equity of 225.52%. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same period in the prior year, the company posted $2.97 EPS. As a group, equities analysts expect that McDonald’s Corporation will post 12.25 earnings per share for the current year.

McDonald’s Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be given a dividend of $1.86 per share. The ex-dividend date of this dividend is Monday, December 1st. This is a positive change from McDonald’s’s previous quarterly dividend of $1.77. This represents a $7.44 annualized dividend and a dividend yield of 2.5%. McDonald’s’s dividend payout ratio is 63.75%.

McDonald’s Company Profile

McDonald’s Corp. engages in the operation and franchising of restaurants. It operates through the following segments: U.S., International Operated Markets, and International Developmental Licensed Markets and Corporate. The U.S. segment focuses its operations on the United States. The International Operated Markets segment consists of operations and the franchising of restaurants in Australia, Canada, France, Germany, Italy, the Netherlands, Spain, and the U.K.