Boltwood Capital Management Acquires 236 Shares of McDonald’s Co. (NYSE:MCD)

Boltwood Capital Management grew its holdings in McDonald’s Co. (NYSE:MCD) by 14.6% in the 3rd quarter, Holdings Channel reports. The fund owned 1,847 shares of the fast-food giant’s stock after purchasing an additional 236 shares during the quarter. Boltwood Capital Management’s holdings in McDonald’s were worth $562,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of MCD. Dixon Mitchell Investment Counsel Inc. bought a new position in McDonald’s in the first quarter worth $28,000. Kings Path Partners LLC bought a new position in McDonald’s in the second quarter worth $38,000. Accent Capital Management LLC bought a new position in McDonald’s in the fourth quarter worth $44,000. Transcendent Capital Group LLC bought a new position in McDonald’s in the fourth quarter worth $45,000. Finally, Keener Financial Planning LLC lifted its position in McDonald’s by 32.3% in the first quarter. Keener Financial Planning LLC now owns 176 shares of the fast-food giant’s stock worth $50,000 after purchasing an additional 43 shares during the period. 70.29% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on MCD shares. Robert W. Baird lifted their price objective on McDonald’s from $280.00 to $320.00 and gave the company an “outperform” rating in a report on Thursday, September 26th. TD Cowen reissued a “hold” rating and set a $280.00 price objective on shares of McDonald’s in a report on Monday, September 23rd. KeyCorp cut their price objective on McDonald’s from $310.00 to $305.00 and set an “overweight” rating for the company in a report on Tuesday, July 30th. The Goldman Sachs Group lifted their price objective on McDonald’s from $284.00 to $325.00 and gave the company a “neutral” rating in a report on Tuesday, September 24th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on McDonald’s from $295.00 to $290.00 and set a “buy” rating for the company in a report on Tuesday, July 30th. Eleven analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $309.15.

McDonald’s Stock Up 0.3 %

Shares of MCD stock opened at $303.82 on Thursday. The firm has a market cap of $218.96 billion, a price-to-earnings ratio of 25.79, a PEG ratio of 3.99 and a beta of 0.73. McDonald’s Co. has a 12 month low of $243.53 and a 12 month high of $306.96. The stock has a 50-day moving average price of $284.59 and a 200 day moving average price of $271.49.

McDonald’s (NYSE:MCD) last posted its earnings results on Monday, July 29th. The fast-food giant reported $2.97 earnings per share (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 company had revenue of $6.49 billion for the quarter, compared to analyst estimates of $6.62 billion. During the same quarter in the previous year, the firm posted $3.17 earnings per share. McDonald’s’s quarterly revenue was down .1% compared to the same quarter last year. Sell-side analysts predict that McDonald’s Co. will post 11.69 earnings per share for the current fiscal year.

McDonald’s Increases Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Monday, December 2nd. This is a positive change from McDonald’s’s previous quarterly dividend of $1.67. This represents a $7.08 annualized dividend and a dividend yield of 2.33%. McDonald’s’s payout ratio is currently 60.10%.

Insider Activity at McDonald’s

In other McDonald’s 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 completion of the transaction, the chief executive officer now owns 49,885 shares of the company’s stock, valued at approximately $14,966,996.55. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CEO Christopher J. Kempczinski sold 9,291 shares of the 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 of the company’s stock, valued at approximately $13,193,080. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Christopher J. Kempczinski sold 11,727 shares of the stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $300.03, for a total value of $3,518,451.81. Following the completion of the sale, the chief executive officer now directly owns 49,885 shares of the company’s stock, valued at approximately $14,966,996.55. The disclosure for this sale can be found here. In the last three months, insiders sold 31,751 shares of company stock worth $9,493,973. 0.23% of the stock is owned by company insiders.

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.