4,809 McDonald's Corporation $MCD Shares Purchased by Provenance Wealth Advisors LLC

Key Points

• Provenance Wealth Advisors increased its McDonald’s stake by 4,809 shares in the third quarter, a 1,054.6% rise, bringing its holdings to 5,265 shares valued at about $1.216 million.
• McDonald’s reported quarterly adjusted EPS of $3.57, topping the $3.38 consensus, while revenue of $7.16 billion came in below expectations of $7.28 billion.
• Analysts’ consensus rating was “Moderate Buy,” with an average price target of $293.21. The company also raised its quarterly dividend from $1.86 to $1.93 per share.

Provenance Wealth Advisors LLC lifted its position in McDonald's Corporation (NYSE:MCD - Free Report) by 1,054.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,265 shares of the fast-food giant's stock after acquiring an additional 4,809 shares during the quarter. Provenance Wealth Advisors LLC's holdings in McDonald's were worth $1,216,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in MCD. GKV Capital Management Co. Inc. bought a new position in shares of McDonald's during the first quarter valued at about $33,000. POM Investment Strategies LLC grew its position in McDonald's by 46.2% in the 2nd quarter. POM Investment Strategies LLC now owns 174 shares of the fast-food giant's stock worth $47,000 after purchasing an additional 55 shares in the last quarter. Westfuller Advisors LLC grew its position in McDonald's by 140.0% in the 2nd quarter. Westfuller Advisors LLC now owns 180 shares of the fast-food giant's stock worth $49,000 after purchasing an additional 105 shares in the last quarter. Burkett Financial Services LLC grew its position in McDonald's by 2,312.5% in the 3rd quarter. Burkett Financial Services LLC now owns 193 shares of the fast-food giant's stock worth $45,000 after purchasing an additional 185 shares in the last quarter. Finally, Main Street Group LTD purchased a new stake in McDonald's in the 1st quarter valued at about $64,000. Hedge funds and other institutional investors own 70.29% of the company's stock.

Analysts Set New Price Targets

MCD has been the topic of several recent analyst reports. Bank of America lifted their target price on shares of McDonald's from $339.00 to $343.00 in a research report on Wednesday, August 5th. Argus reduced their target price on McDonald's from $320.00 to $310.00 and set a "buy" rating for the company in a report on Wednesday, August 26th. UBS Group reaffirmed a "buy" rating on shares of McDonald's in a research report on Monday, October 19th. Rothschild & Co Redburn dropped their price target on McDonald's from $306.00 to $285.00 in a report on Wednesday, August 26th. Finally, BMO Capital Markets dropped their price target on McDonald's from $335.00 to $310.00 and set an "outperform" rating on the stock in a report on Thursday, September 24th. One analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, McDonald's has an average rating of "Moderate Buy" and a consensus target price of $293.21.

Trending Headlines about McDonald's

Here are the key news stories impacting McDonald's this week:

• Positive Sentiment: Third-quarter adjusted EPS was $3.57, above the $3.38 analyst estimate, with stronger franchised margins contributing. Global comparable sales rose 1.5%, led by international markets. McDonald's Q3 Earnings Beat on Franchised Margins, Revenues Miss
• Positive Sentiment: Management says U.S. sales improved as the quarter progressed and is planning more affordable bundles, digital deals, and other value initiatives to attract budget-conscious customers. Investors may view these plans as a path to a domestic rebound. McDonald’s Puts Focus on Entry-Level Value to Lift Sluggish Sales
• Neutral Sentiment: Holiday drink offerings and a Pokémon Happy Meal promotion add seasonal marketing opportunities, though their impact on overall sales is uncertain. McDonald's Pokémon Happy Meal Returns Nov. 10 With Cards
• Negative Sentiment: Revenue of $7.16 billion fell short of expectations near $7.28 billion. U.S. comparable sales declined 0.2%—the first drop in six quarters—as customers facing high living costs pulled back and restaurant traffic weakened. McDonald's US sales decline for first time in six quarters despite value push
• Negative Sentiment: Value promotions may pressure economics and come amid reported tensions with franchisees. Separately, a judge allowed a lawsuit challenging McRib marketing to proceed, creating a potential legal and reputational overhang. McDonald’s facing lawsuit over meat in cult-favorite sandwich

McDonald's Stock Performance

NYSE MCD opened at $280.20 on Thursday. McDonald's Corporation has a 52-week low of $229.20 and a 52-week high of $341.75. The company has a 50-day simple moving average of $248.20 and a 200 day simple moving average of $282.85. The company has a market capitalization of $198.28 billion, a PE ratio of 22.76, a price-to-earnings-growth ratio of 3.01 and a beta of 0.42.

McDonald's (NYSE:MCD - Get Free Report) last posted its quarterly earnings results on Wednesday, November 4th. The fast-food giant reported $3.57 EPS for the quarter, topping analysts' consensus estimates of $3.38 by $0.19. McDonald's had a net margin of 31.72% and a negative return on equity of 572.06%. The company had revenue of $7.16 billion for the quarter, compared to analysts' expectations of $7.28 billion. During the same quarter in the previous year, the firm posted $3.22 EPS. McDonald's's revenue was up 1.1% on a year-over-year basis. As a group, analysts forecast that McDonald's Corporation will post 12.82 EPS for the current fiscal year.

McDonald's Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Tuesday, December 1st will be issued a dividend of $1.93 per share. This represents a $7.72 annualized dividend and a yield of 2.8%. This is a positive change from McDonald's's previous quarterly dividend of $1.86. The ex-dividend date of this dividend is Tuesday, December 1st. McDonald's's dividend payout ratio is currently 60.44%.

McDonald's Profile

McDonald’s Corporation is a global quick-service restaurant company that operates and franchises restaurants under the McDonald’s brand. Its restaurants serve a menu that includes hamburgers, cheeseburgers, chicken sandwiches, French fries, breakfast items, desserts, salads, beverages and coffee. Offerings vary by market, and many locations provide drive-thru service, delivery and digital ordering through the McDonald’s mobile app.

The company operates through a heavily franchised business model, with restaurants owned and operated by independent franchisees, affiliates and the company itself.

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