Heritage Wealth Management Inc. Makes New $2.76 Million Investment in McDonald’s Co. (NYSE:MCD)

Heritage Wealth Management Inc. bought a new position in McDonald’s Co. (NYSE:MCD) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 11,000 shares of the fast-food giant’s stock, valued at approximately $2,762,000. McDonald’s makes up about 0.9% of Heritage Wealth Management Inc.’s investment portfolio, making the stock its 21st largest holding.

A number of other institutional investors and hedge funds have also bought and sold shares of MCD. Concentric Wealth Management LLC increased its stake in shares of McDonald’s by 1.4% in the fourth quarter. Concentric Wealth Management LLC now owns 2,551 shares of the fast-food giant’s stock valued at $756,000 after buying an additional 35 shares during the period. Founders Financial Alliance LLC increased its stake in shares of McDonald’s by 0.7% in the second quarter. Founders Financial Alliance LLC now owns 4,980 shares of the fast-food giant’s stock valued at $1,269,000 after buying an additional 36 shares during the period. 9258 Wealth Management LLC increased its stake in shares of McDonald’s by 1.3% in the first quarter. 9258 Wealth Management LLC now owns 2,833 shares of the fast-food giant’s stock valued at $799,000 after buying an additional 37 shares during the period. Weatherly Asset Management L. P. increased its stake in shares of McDonald’s by 0.9% in the first quarter. Weatherly Asset Management L. P. now owns 4,378 shares of the fast-food giant’s stock valued at $1,234,000 after buying an additional 38 shares during the period. Finally, Independence Bank of Kentucky increased its stake in shares of McDonald’s by 1.3% in the first quarter. Independence Bank of Kentucky now owns 2,913 shares of the fast-food giant’s stock valued at $821,000 after buying an additional 38 shares during the period. Institutional investors and hedge funds own 70.29% of the company’s stock.

McDonald’s Stock Down 0.5 %

MCD stock opened at $302.98 on Wednesday. The firm has a market capitalization of $218.35 billion, a PE ratio of 25.72, a PEG ratio of 3.99 and a beta of 0.72. McDonald’s Co. has a twelve month low of $243.53 and a twelve month high of $306.96. The stock has a 50-day simple moving average of $283.58 and a two-hundred day simple moving average of $271.26.

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 the consensus estimate of $3.07 by ($0.10). McDonald’s had a negative return on equity of 178.68% and a net margin of 32.25%. The business had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.62 billion. During the same period in the previous year, the firm posted $3.17 EPS. The firm’s revenue for the quarter was down .1% compared to the same quarter last year. On average, equities research analysts anticipate that McDonald’s Co. will post 11.69 EPS for the current fiscal year.

McDonald’s Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a $1.77 dividend. This is an increase from McDonald’s’s previous quarterly dividend of $1.67. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $7.08 dividend on an annualized basis and a yield of 2.34%. McDonald’s’s payout ratio is presently 56.71%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on MCD. The Goldman Sachs Group upped their target price on McDonald’s from $284.00 to $325.00 and gave the company a “neutral” rating in a research report on Tuesday, September 24th. Morgan Stanley reduced their price objective on shares of McDonald’s from $312.00 to $300.00 and set an “overweight” rating for the company in a research report on Thursday, July 11th. Wedbush reaffirmed an “outperform” rating and set a $295.00 price objective on shares of McDonald’s in a research report on Monday, July 29th. Loop Capital reaffirmed a “buy” rating and set a $342.00 price objective on shares of McDonald’s in a research report on Tuesday, September 10th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of McDonald’s from $295.00 to $290.00 and set a “buy” rating for the company in a research report on Tuesday, July 30th. Eleven analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to MarketBeat, McDonald’s has a consensus rating of “Moderate Buy” and an average price target of $308.22.

Insider Buying and Selling

In related news, CEO Christopher J. Kempczinski sold 9,291 shares of the business’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 completion of the sale, the chief executive officer now owns 43,256 shares in the company, valued at approximately $13,193,080. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other McDonald’s news, insider Joseph M. Erlinger sold 1,098 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $288.70, for a total value of $316,992.60. Following the completion of the sale, the insider now owns 12,583 shares in the company, valued at $3,632,712.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Christopher J. Kempczinski sold 9,291 shares of the business’s stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $305.00, for a total value of $2,833,755.00. Following the completion of the sale, the chief executive officer now owns 43,256 shares of the company’s stock, valued at approximately $13,193,080. The disclosure for this sale can be found here. Insiders sold 31,751 shares of company stock worth $9,493,973 in the last quarter. 0.23% of the stock is owned by 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.