Glenmede Trust Co. NA Increases Stock Position in McDonald’s Co. (NYSE:MCD)

Glenmede Trust Co. NA increased its stake in shares of McDonald’s Co. (NYSE:MCD) by 2.4% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 343,306 shares of the fast-food giant’s stock after purchasing an additional 8,131 shares during the period. Glenmede Trust Co. NA’s holdings in McDonald’s were worth $104,540,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hara Capital LLC purchased a new stake in shares of McDonald’s in the third quarter worth $44,000. Kings Path Partners LLC purchased a new stake in shares of McDonald’s in the second quarter valued at $38,000. Peterson Financial Group Inc. bought a new position in shares of McDonald’s during the third quarter valued at approximately $58,000. Opal Wealth Advisors LLC bought a new stake in shares of McDonald’s during the second quarter worth $59,000. Finally, Bbjs Financial Advisors LLC purchased a new stake in McDonald’s in the 2nd quarter valued at about $65,000. Institutional investors own 70.29% of the company’s stock.

Insider Activity at McDonald’s

In related news, insider Joseph M. Erlinger sold 1,099 shares of McDonald’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $298.57, for a total transaction of $328,128.43. Following the sale, the insider now directly owns 11,484 shares in the company, valued at $3,428,777.88. The trade was a 8.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Christopher J. Kempczinski sold 11,727 shares of the business’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 value of $3,518,451.81. Following the sale, the chief executive officer now directly owns 49,885 shares in the company, valued at approximately $14,966,996.55. The trade was a 19.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 35,597 shares of company stock worth $10,702,754 in the last ninety days. 0.23% of the stock is owned by insiders.

McDonald’s Trading Up 0.0 %

Shares of MCD opened at $296.31 on Wednesday. McDonald’s Co. has a 52 week low of $243.53 and a 52 week high of $317.90. The stock has a 50 day moving average of $299.90 and a 200-day moving average of $278.55. The firm has a market cap of $212.34 billion, a price-to-earnings ratio of 26.01, a PEG ratio of 3.94 and a beta of 0.74.

McDonald’s (NYSE:MCD) last announced its quarterly earnings results 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 the consensus estimate of $6.82 billion. McDonald’s had a negative return on equity of 175.42% 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 business posted $3.19 EPS. On average, sell-side analysts predict that McDonald’s Co. will post 11.77 earnings per share for the current fiscal year.

McDonald’s Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a $1.77 dividend. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date is Monday, December 2nd. This is a boost from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s dividend payout ratio (DPR) is 58.65%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Barclays raised their target price on shares of McDonald’s from $300.00 to $325.00 and gave the company an “overweight” rating in a research report on Tuesday, October 22nd. BMO Capital Markets lifted their price objective on shares of McDonald’s from $315.00 to $335.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Bank of America raised their price target on shares of McDonald’s from $321.00 to $324.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Argus upgraded McDonald’s from a “hold” rating to a “buy” rating in a research report on Tuesday, October 8th. Finally, Wedbush restated an “outperform” rating and issued a $295.00 price objective on shares of McDonald’s in a research report on Wednesday, October 23rd. Thirteen investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $319.46.

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.