McDonald’s Co. (NYSE:MCD) Shares Acquired by Essex Financial Services Inc.

Essex Financial Services Inc. boosted its stake in McDonald’s Co. (NYSE:MCD) by 5.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,415 shares of the fast-food giant’s stock after acquiring an additional 683 shares during the period. Essex Financial Services Inc.’s holdings in McDonald’s were worth $3,889,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Legacy Investment Solutions LLC purchased a new stake in shares of McDonald’s during the third quarter worth approximately $25,000. Comprehensive Financial Planning Inc. PA acquired a new position in McDonald’s in the 4th quarter valued at $27,000. RPg Family Wealth Advisory LLC purchased a new position in McDonald’s during the 3rd quarter worth $31,000. Hara Capital LLC acquired a new stake in shares of McDonald’s in the 3rd quarter worth $44,000. Finally, Financial Life Planners purchased a new stake in shares of McDonald’s in the fourth quarter valued at about $49,000. 70.29% of the stock is owned by hedge funds and other institutional investors.

McDonald’s Stock Performance

Shares of NYSE:MCD opened at $308.22 on Tuesday. McDonald’s Co. has a one year low of $243.53 and a one year high of $317.90. The stock has a market cap of $220.88 billion, a PE ratio of 27.06, a price-to-earnings-growth ratio of 4.08 and a beta of 0.74. The business’s fifty day moving average price is $290.70 and its two-hundred day moving average price is $291.16.

McDonald’s (NYSE:MCD) last posted its quarterly earnings data on Monday, February 10th. The fast-food giant reported $2.83 EPS for the quarter, meeting analysts’ consensus estimates of $2.83. McDonald’s had a negative return on equity of 175.42% and a net margin of 31.79%. As a group, equities research analysts predict that McDonald’s Co. will post 11.73 earnings per share for the current fiscal year.

McDonald’s Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be issued a dividend of $1.77 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.30%. McDonald’s’s dividend payout ratio (DPR) is presently 62.16%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on MCD shares. KeyCorp cut their price target on shares of McDonald’s from $330.00 to $320.00 and set an “overweight” rating for the company in a report on Friday, January 24th. Wells Fargo & Company increased their target price on McDonald’s from $285.00 to $350.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. Loop Capital restated a “buy” rating and issued a $342.00 price target on shares of McDonald’s in a research note on Friday, January 3rd. Robert W. Baird lowered McDonald’s from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $320.00 to $290.00 in a report on Wednesday, October 23rd. Finally, Baird R W downgraded McDonald’s from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Ten analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, McDonald’s currently has an average rating of “Moderate Buy” and a consensus price target of $319.13.

Insider Activity

In other news, EVP Desiree Ralls-Morrison sold 3,409 shares of the firm’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $290.15, for a total transaction of $989,121.35. Following the sale, the executive vice president now owns 9,675 shares in the company, valued at $2,807,201.25. This trade represents a 26.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Joseph M. Erlinger sold 1,099 shares of the company’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $291.10, for a total value of $319,918.90. Following the completion of the transaction, the insider now owns 8,187 shares of the company’s stock, valued at $2,383,235.70. The trade was a 11.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,406 shares of company stock valued at $2,150,857 over the last 90 days. Insiders own 0.23% of the company’s stock.

About McDonald’s

McDonald’s Corp. engages in the operation and franchising of restaurants. It operates through the following segments: U.S., International Operated Markets, and International Developmental Licensed Markets and Corporate. The U.S. segment focuses its operations on the United States. The International Operated Markets segment consists of operations and the franchising of restaurants in Australia, Canada, France, Germany, Italy, the Netherlands, Russia, Spain, and the U.K.