GEM Asset Management LLC Acquires 264 Shares of McDonald’s Co. (NYSE:MCD)

GEM Asset Management LLC increased its holdings in shares of McDonald’s Co. (NYSE:MCD) by 20.4% during the third quarter, Holdings Channel.com reports. The firm owned 1,558 shares of the fast-food giant’s stock after buying an additional 264 shares during the period. GEM Asset Management LLC’s holdings in McDonald’s were worth $469,000 as of its most recent SEC filing.

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

McDonald’s Price Performance

MCD stock traded down $0.14 during midday trading on Thursday, hitting $303.69. 639,443 shares of the stock traded hands, compared to its average volume of 3,379,019. The firm has a market cap of $218.86 billion, a P/E ratio of 25.79, a PEG ratio of 3.99 and a beta of 0.73. The stock’s fifty day simple moving average is $288.93 and its 200-day simple moving average is $272.20. McDonald’s Co. has a 1-year low of $243.53 and a 1-year high of $306.96.

McDonald’s (NYSE:MCD) last released its earnings results on Monday, July 29th. The fast-food giant reported $2.97 EPS for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.10). The company had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.62 billion. McDonald’s had a negative return on equity of 178.68% and a net margin of 32.25%. The firm’s revenue for the quarter was down .1% on a year-over-year basis. During the same period in the prior year, the firm earned $3.17 EPS. On average, research analysts predict that McDonald’s Co. will post 11.69 earnings per share for the current year.

McDonald’s Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a dividend of $1.77 per share. The ex-dividend date is Monday, December 2nd. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.33%. This is a boost from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s payout ratio is currently 60.10%.

Analysts Set New Price Targets

MCD has been the subject of a number of analyst reports. KeyCorp increased their target price on shares of McDonald’s from $305.00 to $330.00 and gave the company an “overweight” rating in a research report on Monday. Guggenheim increased their target price on shares of McDonald’s from $280.00 to $290.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Truist Financial decreased their price target on shares of McDonald’s from $300.00 to $295.00 and set a “buy” rating for the company in a report on Tuesday, July 30th. Stifel Nicolaus decreased their price target on shares of McDonald’s from $285.00 to $265.00 and set a “hold” rating for the company in a report on Monday, July 22nd. Finally, Argus raised shares of McDonald’s from a “hold” rating to a “buy” rating in a report on Tuesday. Ten analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $310.50.

Insider Transactions at McDonald’s

In related news, CEO Christopher J. Kempczinski sold 9,291 shares of the company’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $305.00, for a total transaction 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. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Christopher J. Kempczinski sold 9,291 shares of the company’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $305.00, for a total transaction 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. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Christopher J. Kempczinski sold 11,727 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $300.03, for a total transaction of $3,518,451.81. Following the sale, the chief executive officer now directly owns 49,885 shares of the company’s stock, valued at approximately $14,966,996.55. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 31,751 shares of company stock valued at $9,493,973 over the last 90 days. Corporate insiders own 0.23% of the company’s stock.

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.