Abacus Planning Group Inc. Buys 241 Shares of McDonald’s Co. (NYSE:MCD)

Abacus Planning Group Inc. boosted its stake in shares of McDonald’s Co. (NYSE:MCD) by 7.2% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,568 shares of the fast-food giant’s stock after buying an additional 241 shares during the period. Abacus Planning Group Inc.’s holdings in McDonald’s were worth $1,087,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in MCD. Capital International Ltd. CA increased its stake in McDonald’s by 6.0% during the 4th quarter. Capital International Ltd. CA now owns 16,849 shares of the fast-food giant’s stock valued at $4,996,000 after purchasing an additional 961 shares in the last quarter. Capital International Sarl raised its position in McDonald’s by 11.6% in the 4th quarter. Capital International Sarl now owns 9,457 shares of the fast-food giant’s stock worth $2,804,000 after buying an additional 980 shares during the last quarter. Capital World Investors lifted its stake in McDonald’s by 0.7% during the 4th quarter. Capital World Investors now owns 2,552,864 shares of the fast-food giant’s stock valued at $756,950,000 after acquiring an additional 17,000 shares during the period. Exencial Wealth Advisors LLC boosted its holdings in shares of McDonald’s by 3.8% during the 4th quarter. Exencial Wealth Advisors LLC now owns 13,979 shares of the fast-food giant’s stock valued at $4,145,000 after acquiring an additional 506 shares during the last quarter. Finally, Pinnacle West Asset Management Inc. lifted its position in McDonald’s by 4.5% during the fourth quarter. Pinnacle West Asset Management Inc. now owns 6,510 shares of the fast-food giant’s stock valued at $1,930,000 after purchasing an additional 280 shares during the period. Hedge funds and other institutional investors own 70.29% of the company’s stock.

McDonald’s Stock Performance

NYSE MCD opened at $303.82 on Thursday. The business’s 50 day moving average price is $284.59 and its 200-day moving average price is $271.49. McDonald’s Co. has a fifty-two week low of $243.53 and a fifty-two week high of $306.96. The company has a market cap of $218.96 billion, a P/E ratio of 25.79, a P/E/G ratio of 3.99 and a beta of 0.73.

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

McDonald’s Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a $1.77 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $7.08 annualized dividend and a yield of 2.33%. This is an increase from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s dividend payout ratio (DPR) is presently 60.10%.

Insider Buying and Selling at McDonald’s

In related news, insider Joseph M. Erlinger sold 1,099 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $260.00, for a total transaction of $285,740.00. Following the completion of the sale, the insider now directly owns 13,681 shares of the company’s stock, valued at approximately $3,557,060. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other McDonald’s news, insider Joseph M. Erlinger sold 1,099 shares of the stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $260.00, for a total value of $285,740.00. Following the sale, the insider now owns 13,681 shares in the company, valued at $3,557,060. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Christopher J. Kempczinski sold 11,727 shares of the business’s stock in a transaction on 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 $14,966,996.55. The disclosure for this sale can be found here. Insiders sold 31,751 shares of company stock worth $9,493,973 over the last 90 days. Company insiders own 0.23% of the company’s stock.

Wall Street Analyst Weigh In

MCD has been the topic of several research analyst reports. Wedbush reissued an “outperform” rating and set a $295.00 price target on shares of McDonald’s in a report on Monday, July 29th. Citigroup boosted their price target on McDonald’s from $301.00 to $317.00 and gave the company a “neutral” rating in a research note on Wednesday. Truist Financial reduced their price target on shares of McDonald’s from $300.00 to $295.00 and set a “buy” rating for the company in a research report on Tuesday, July 30th. TD Cowen reissued a “hold” rating and issued a $280.00 price objective on shares of McDonald’s in a report on Monday, September 23rd. Finally, Evercore ISI boosted their price target on McDonald’s from $300.00 to $320.00 and gave the company an “outperform” rating in a report on Monday, August 19th. Eleven equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $309.15.

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.