Brookstone Capital Management Acquires 8,198 Shares of McDonald’s Co. (NYSE:MCD)

Brookstone Capital Management lifted its stake in McDonald’s Co. (NYSE:MCD) by 15.7% during the 3rd quarter, HoldingsChannel reports. The fund owned 60,529 shares of the fast-food giant’s stock after buying an additional 8,198 shares during the period. Brookstone Capital Management’s holdings in McDonald’s were worth $18,432,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the stock. Dixon Mitchell Investment Counsel Inc. acquired a new position in shares of McDonald’s in the 1st quarter valued at $28,000. Kings Path Partners LLC bought a new stake in shares of McDonald’s in the 2nd quarter valued at approximately $38,000. Accent Capital Management LLC bought a new position in shares of McDonald’s during the 4th quarter worth approximately $44,000. Transcendent Capital Group LLC acquired a new stake in McDonald’s in the 4th quarter valued at $45,000. Finally, Keener Financial Planning LLC grew 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 valued at $50,000 after acquiring an additional 43 shares during the period. 70.29% of the stock is currently owned by institutional investors and hedge funds.

McDonald’s Trading Up 0.3 %

NYSE:MCD opened at $301.90 on Wednesday. McDonald’s Co. has a 1 year low of $243.53 and a 1 year high of $306.96. The stock has a market cap of $217.57 billion, a price-to-earnings ratio of 25.63, a PEG ratio of 3.99 and a beta of 0.73. The stock has a 50-day moving average price of $287.46 and a two-hundred day moving average price of $271.84.

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 analysts’ consensus estimates of $3.07 by ($0.10). McDonald’s had a net margin of 32.25% and a negative return on equity of 178.68%. The business had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.62 billion. During the same period in the previous year, the firm posted $3.17 earnings per share. The firm’s revenue was down .1% on a year-over-year basis. Sell-side analysts forecast that McDonald’s Co. will post 11.69 earnings per share for the current year.

McDonald’s Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a dividend of $1.77 per share. This is a boost from McDonald’s’s previous quarterly dividend of $1.67. This represents a $7.08 annualized dividend and a dividend yield of 2.35%. The ex-dividend date is Monday, December 2nd. McDonald’s’s dividend payout ratio is currently 60.10%.

Insider Transactions at McDonald’s

In other news, insider Joseph M. Erlinger sold 1,098 shares of the company’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $288.70, for a total transaction of $316,992.60. Following the completion of the transaction, the insider now directly owns 12,583 shares of the company’s stock, valued at $3,632,712.10. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Joseph M. Erlinger sold 1,098 shares of the company’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $288.70, for a total transaction of $316,992.60. Following the completion of the transaction, the insider now directly owns 12,583 shares of the company’s stock, valued at $3,632,712.10. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Joseph M. Erlinger sold 1,099 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $260.00, for a total value of $285,740.00. Following the transaction, the insider now directly owns 13,681 shares of the company’s stock, valued at $3,557,060. This represents a 0.00 % decrease in their ownership of the stock. 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 three months. Company insiders own 0.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Tigress Financial lifted their price objective on McDonald’s from $355.00 to $360.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Truist Financial cut 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. Argus raised shares of McDonald’s from a “hold” rating to a “buy” rating in a research note on Tuesday. TD Cowen reiterated a “hold” rating and issued a $280.00 target price on shares of McDonald’s in a research note on Monday, September 23rd. Finally, Citigroup increased their price target on McDonald’s from $301.00 to $317.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Ten research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat, McDonald’s currently has an average rating of “Moderate Buy” and a consensus price target of $310.12.

About McDonald’s

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.