Rockefeller Capital Management L.P. Purchases 8,019 Shares of McDonald’s Co. (NYSE:MCD)

Rockefeller Capital Management L.P. lifted its position in McDonald’s Co. (NYSE:MCD) by 1.5% during the 3rd quarter, HoldingsChannel reports. The firm owned 538,195 shares of the fast-food giant’s stock after buying an additional 8,019 shares during the period. Rockefeller Capital Management L.P.’s holdings in McDonald’s were worth $163,848,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Kennebec Savings Bank bought a new position in shares of McDonald’s in the third quarter worth approximately $1,394,000. Hantz Financial Services Inc. purchased a new position in shares of McDonald’s in the 2nd quarter worth about $6,612,000. Charles Schwab Investment Management Inc. grew its position in McDonald’s by 0.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 5,564,359 shares of the fast-food giant’s stock valued at $1,694,403,000 after acquiring an additional 49,106 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in shares of McDonald’s by 58.9% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 138,102 shares of the fast-food giant’s stock valued at $35,194,000 after purchasing an additional 51,210 shares in the last quarter. Finally, U.S. Capital Wealth Advisors LLC lifted its stake in McDonald’s by 6.5% in the third quarter. U.S. Capital Wealth Advisors LLC now owns 49,186 shares of the fast-food giant’s stock worth $14,978,000 after acquiring an additional 2,997 shares during the period. Hedge funds and other institutional investors own 70.29% of the company’s stock.

McDonald’s Trading Down 0.4 %

NYSE:MCD opened at $295.08 on Friday. The company has a market capitalization of $211.46 billion, a P/E ratio of 25.91, a P/E/G ratio of 3.92 and a beta of 0.74. The business’s 50-day moving average is $299.98 and its 200 day moving average is $278.78. McDonald’s Co. has a 12 month low of $243.53 and a 12 month high of $317.90.

McDonald’s (NYSE:MCD) last posted its earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share for the quarter, beating analysts’ consensus estimates of $3.18 by $0.05. McDonald’s had a net margin of 31.79% and a negative return on equity of 175.42%. The firm had revenue of $6.87 billion during the quarter, compared to analyst estimates of $6.82 billion. During the same period last year, the firm posted $3.19 earnings per share. McDonald’s’s revenue for the quarter was up 2.7% compared to the same quarter last year. On average, research analysts forecast that McDonald’s Co. will post 11.77 earnings per share for the current year.

McDonald’s Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a dividend of $1.77 per share. The ex-dividend date of this dividend is Monday, December 2nd. This is a boost from McDonald’s’s previous quarterly dividend of $1.67. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.40%. McDonald’s’s payout ratio is currently 58.65%.

Insider Activity at McDonald’s

In other news, insider Joseph M. Erlinger sold 1,099 shares of the business’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $292.38, for a total value of $321,325.62. Following the completion of the sale, the insider now owns 10,385 shares in the company, valued at approximately $3,036,366.30. The trade was a 9.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Marion K. Gross sold 1,498 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $286.36, for a total transaction of $428,967.28. Following the transaction, the executive vice president now owns 1,560 shares in the company, valued at approximately $446,721.60. This represents a 48.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 35,597 shares of company stock worth $10,702,754. Insiders own 0.23% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on MCD. Citigroup upped their price objective on shares of McDonald’s from $301.00 to $317.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Bank of America lifted their price target on McDonald’s from $321.00 to $324.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Jefferies Financial Group lifted their target price on shares of McDonald’s from $310.00 to $330.00 and gave the stock a “buy” rating in a report on Monday, September 9th. Wedbush reissued an “outperform” rating and set a $295.00 price target on shares of McDonald’s in a research report on Wednesday, October 23rd. Finally, Wells Fargo & Company increased their target price on McDonald’s from $285.00 to $350.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Thirteen investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $319.46.

McDonald’s 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.