Continuum Wealth Advisors LLC Sells 100 Shares of McDonald’s Co. (NYSE:MCD)

Continuum Wealth Advisors LLC reduced its position in McDonald’s Co. (NYSE:MCD) by 10.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 814 shares of the fast-food giant’s stock after selling 100 shares during the quarter. Continuum Wealth Advisors LLC’s holdings in McDonald’s were worth $248,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Dixon Mitchell Investment Counsel Inc. purchased a new stake in shares of McDonald’s during the first quarter valued at about $28,000. Kings Path Partners LLC bought a new position in shares of McDonald’s during the 2nd quarter worth approximately $38,000. Keener Financial Planning LLC lifted its position in McDonald’s by 32.3% during 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 last quarter. Opal Wealth Advisors LLC acquired a new stake in McDonald’s in the second quarter valued at approximately $59,000. Finally, Bbjs Financial Advisors LLC purchased a new position in McDonald’s in the second quarter worth $65,000. 70.29% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

MCD has been the subject of several analyst reports. Barclays decreased their price objective on McDonald’s from $320.00 to $300.00 and set an “overweight” rating for the company in a report on Tuesday, July 30th. Robert W. Baird boosted their price target on McDonald’s from $280.00 to $320.00 and gave the stock an “outperform” rating in a research note on Thursday, September 26th. The Goldman Sachs Group upped their price objective on shares of McDonald’s from $284.00 to $325.00 and gave the company a “neutral” rating in a report on Tuesday, September 24th. Jefferies Financial Group boosted their target price on shares of McDonald’s from $310.00 to $330.00 and gave the stock a “buy” rating in a research report on Monday, September 9th. Finally, Citigroup raised their price target on shares of McDonald’s from $301.00 to $317.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Ten equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, McDonald’s presently has an average rating of “Moderate Buy” and an average target price of $315.69.

McDonald’s Price Performance

MCD stock traded up $1.86 during midday trading on Friday, hitting $316.56. 2,531,197 shares of the stock traded hands, compared to its average volume of 3,356,786. The stock’s fifty day simple moving average is $294.62 and its 200-day simple moving average is $273.73. The firm has a market cap of $228.14 billion, a P/E ratio of 26.87, a PEG ratio of 4.05 and a beta of 0.73. McDonald’s Co. has a 1-year low of $243.53 and a 1-year high of $317.18.

McDonald’s (NYSE:MCD) last posted its earnings results on Monday, July 29th. The fast-food giant reported $2.97 EPS for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.10). The business had revenue of $6.49 billion for the quarter, compared to analyst estimates of $6.62 billion. McDonald’s had a net margin of 32.25% and a negative return on equity of 178.68%. McDonald’s’s revenue was down .1% on a year-over-year basis. During the same quarter last year, the business earned $3.17 earnings per share. On average, research analysts predict that McDonald’s Co. will post 11.71 earnings per share for the current year.

McDonald’s Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a dividend of $1.77 per share. This represents a $7.08 annualized dividend and a dividend yield of 2.24%. This is an increase from McDonald’s’s previous quarterly dividend of $1.67. The ex-dividend date of this dividend is Monday, December 2nd. McDonald’s’s dividend payout ratio is presently 60.10%.

Insider Activity

In other McDonald’s news, insider Joseph M. Erlinger sold 1,099 shares of the company’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $260.00, for a total transaction of $285,740.00. Following the completion of the transaction, the insider now directly owns 13,681 shares in the company, valued at approximately $3,557,060. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other McDonald’s news, insider Joseph M. Erlinger sold 1,099 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $260.00, for a total transaction of $285,740.00. Following the completion of the transaction, the insider now 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Marion K. Gross sold 1,498 shares of McDonald’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $286.36, for a total value of $428,967.28. Following the completion of the sale, the executive vice president now directly owns 1,560 shares in the company, valued at $446,721.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 34,097 shares of company stock worth $10,221,233 in the last quarter. Corporate insiders own 0.23% of the company’s stock.

McDonald’s Profile

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.