RBA Wealth Management LLC Sells 71 Shares of McDonald’s Co. (NYSE:MCD)

RBA Wealth Management LLC lowered its position in shares of McDonald’s Co. (NYSE:MCD) by 5.1% during the third quarter, HoldingsChannel.com reports. The fund owned 1,314 shares of the fast-food giant’s stock after selling 71 shares during the quarter. RBA Wealth Management LLC’s holdings in McDonald’s were worth $400,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Legal & General Group Plc grew its position in McDonald’s by 3.2% in the 2nd quarter. Legal & General Group Plc now owns 6,149,080 shares of the fast-food giant’s stock worth $1,567,030,000 after purchasing an additional 188,888 shares in the last quarter. Capital Research Global Investors grew its position in shares of McDonald’s by 66.9% during the 1st quarter. Capital Research Global Investors now owns 5,471,007 shares of the fast-food giant’s stock valued at $1,542,550,000 after acquiring an additional 2,193,769 shares during the period. Ameriprise Financial Inc. boosted its holdings in McDonald’s by 8.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 4,761,625 shares of the fast-food giant’s stock worth $1,216,677,000 after buying an additional 354,196 shares during the period. Capital World Investors boosted its holdings in McDonald’s by 39.7% in the 1st quarter. Capital World Investors now owns 3,565,398 shares of the fast-food giant’s stock worth $1,005,264,000 after buying an additional 1,012,534 shares during the period. Finally, Fayez Sarofim & Co boosted its holdings in McDonald’s by 0.4% in the 1st quarter. Fayez Sarofim & Co now owns 2,273,354 shares of the fast-food giant’s stock worth $640,972,000 after buying an additional 8,475 shares during the period. Institutional investors and hedge funds own 70.29% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on MCD. The Goldman Sachs Group raised their price target 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 lifted their price objective on shares of McDonald’s from $310.00 to $330.00 and gave the stock a “buy” rating in a report on Monday, September 9th. Loop Capital reissued a “buy” rating on shares of McDonald’s in a research note on Friday. KeyCorp boosted their price target on shares of McDonald’s from $305.00 to $330.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Finally, TD Cowen boosted their price objective on shares of McDonald’s from $280.00 to $300.00 and gave the company a “hold” rating in a research report on Wednesday, October 16th. Ten investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $319.52.

Insider Transactions at McDonald’s

In other news, EVP Marion K. Gross sold 1,498 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $286.36, for a total value of $428,967.28. Following the transaction, the executive vice president now owns 1,560 shares in the company, valued at approximately $446,721.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, CEO Christopher J. Kempczinski sold 11,727 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $300.03, for a total value of $3,518,451.81. Following the transaction, the chief executive officer now owns 49,885 shares in the company, valued at approximately $14,966,996.55. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Marion K. Gross sold 1,498 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $286.36, for a total transaction of $428,967.28. Following the transaction, the executive vice president now owns 1,560 shares in the company, valued at approximately $446,721.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 32,998 shares of company stock worth $9,935,493. Corporate insiders own 0.23% of the company’s stock.

McDonald’s Price Performance

NYSE:MCD traded up $0.42 during mid-day trading on Tuesday, hitting $315.31. 1,023,435 shares of the company’s stock were exchanged, compared to its average volume of 3,340,679. McDonald’s Co. has a one year low of $243.53 and a one year high of $317.90. The business has a fifty day moving average price of $295.53 and a 200 day moving average price of $274.01. The company has a market cap of $227.24 billion, a PE ratio of 26.64, a P/E/G ratio of 4.05 and a beta of 0.73.

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

McDonald’s Increases Dividend

The company 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 $1.77 dividend. This represents a $7.08 annualized dividend and a dividend yield of 2.25%. The ex-dividend date of this dividend is Monday, December 2nd. This is an increase from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s dividend payout ratio is currently 60.10%.

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.