Assetmark Inc. lifted its holdings in shares of McDonald's Co. (NYSE:MCD - Free Report) by 28.1% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 54,070 shares of the fast-food giant's stock after acquiring an additional 11,867 shares during the period. Assetmark Inc.'s holdings in McDonald's were worth $16,465,000 at the end of the most recent quarter.
Several other hedge funds have also recently modified their holdings of the stock. Steigerwald Gordon & Koch Inc. raised its stake in McDonald's by 2.4% during the 3rd quarter. Steigerwald Gordon & Koch Inc. now owns 1,422 shares of the fast-food giant's stock valued at $433,000 after acquiring an additional 33 shares during the last quarter. Riversedge Advisors LLC raised its stake in shares of McDonald's by 2.0% during the third quarter. Riversedge Advisors LLC now owns 1,686 shares of the fast-food giant's stock worth $513,000 after purchasing an additional 33 shares during the last quarter. Proquility Private Wealth Partners LLC lifted its holdings in shares of McDonald's by 1.0% during the third quarter. Proquility Private Wealth Partners LLC now owns 3,472 shares of the fast-food giant's stock worth $1,057,000 after purchasing an additional 35 shares during the period. Clear Creek Financial Management LLC grew its position in McDonald's by 2.8% in the 3rd quarter. Clear Creek Financial Management LLC now owns 1,300 shares of the fast-food giant's stock valued at $396,000 after buying an additional 35 shares during the last quarter. Finally, Founders Financial Alliance LLC increased its stake in McDonald's by 0.7% in the 2nd 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. Institutional investors and hedge funds own 70.29% of the company's stock.
Shares of MCD opened at $298.97 on Monday. The company has a market capitalization of $214.46 billion, a price-to-earnings ratio of 26.25, a PEG ratio of 3.98 and a beta of 0.74. McDonald's Co. has a 1 year low of $243.53 and a 1 year high of $317.90. The company's 50 day simple moving average is $299.08 and its 200 day simple moving average is $276.64.
McDonald's (NYSE:MCD - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.18 by $0.05. The business had revenue of $6.87 billion for the quarter, compared to analysts' expectations of $6.82 billion. McDonald's had a negative return on equity of 178.99% and a net margin of 31.79%. The business's revenue was up 2.7% on a year-over-year basis. During the same quarter last year, the firm earned $3.19 earnings per share. Equities analysts expect that McDonald's Co. will post 11.77 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a $1.77 dividend. This is a boost from McDonald's's previous quarterly dividend of $1.67. The ex-dividend date is Monday, December 2nd. This represents a $7.08 annualized dividend and a yield of 2.37%. McDonald's's payout ratio is 58.65%.
In related news, insider Joseph M. Erlinger sold 1,098 shares of the business's stock in a transaction that occurred on Friday, August 23rd. The shares were 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 directly owns 12,583 shares in the company, valued at approximately $3,632,712.10. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Marion K. Gross sold 1,499 shares of the firm's stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $294.51, for a total value of $441,470.49. Following the transaction, the executive vice president now directly owns 1,560 shares in the company, valued at $459,435.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Joseph M. Erlinger sold 1,098 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $288.70, for a total transaction of $316,992.60. Following the sale, the insider now directly owns 12,583 shares of the company's stock, valued at approximately $3,632,712.10. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 35,596 shares of company stock valued at $10,698,289 in the last 90 days. 0.23% of the stock is currently owned by insiders.
A number of brokerages have recently issued reports on MCD. JPMorgan Chase & Co. boosted their price target on shares of McDonald's from $270.00 to $290.00 and gave the stock an "overweight" rating in a research note on Monday, September 16th. Jefferies Financial Group boosted their target price on McDonald's from $310.00 to $330.00 and gave the stock a "buy" rating in a research report on Monday, September 9th. Deutsche Bank Aktiengesellschaft reduced their price target on McDonald's from $295.00 to $290.00 and set a "buy" rating for the company in a report on Tuesday, July 30th. BMO Capital Markets increased their price objective on McDonald's from $315.00 to $335.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 30th. Finally, Robert W. Baird lowered shares of McDonald's from an "outperform" rating to a "neutral" rating and decreased their target price for the stock from $320.00 to $290.00 in a research report on Wednesday, October 23rd. Thirteen equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $319.46.
Check Out Our Latest Stock Report on MCD
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.
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