Gateway Wealth Partners LLC Has $403,000 Stake in McDonald’s Co. (NYSE:MCD)

Gateway Wealth Partners LLC trimmed its position in shares of McDonald’s Co. (NYSE:MCD) by 4.3% during the third quarter, HoldingsChannel reports. The firm owned 1,325 shares of the fast-food giant’s stock after selling 60 shares during the quarter. Gateway Wealth Partners LLC’s holdings in McDonald’s were worth $403,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MCD. Steigerwald Gordon & Koch Inc. grew its position in McDonald’s by 2.4% during the 3rd quarter. Steigerwald Gordon & Koch Inc. now owns 1,422 shares of the fast-food giant’s stock worth $433,000 after acquiring an additional 33 shares during the last quarter. Riversedge Advisors LLC increased its stake in shares of McDonald’s by 2.0% in the third quarter. Riversedge Advisors LLC now owns 1,686 shares of the fast-food giant’s stock valued at $513,000 after buying an additional 33 shares during the period. Proquility Private Wealth Partners LLC lifted its stake in shares of McDonald’s by 1.0% in the 3rd quarter. Proquility Private Wealth Partners LLC now owns 3,472 shares of the fast-food giant’s stock valued at $1,057,000 after purchasing an additional 35 shares during the period. Founders Financial Alliance LLC boosted its holdings in shares of McDonald’s by 0.7% during the 2nd quarter. Founders Financial Alliance LLC now owns 4,980 shares of the fast-food giant’s stock worth $1,269,000 after buying an additional 36 shares in the last quarter. Finally, McAdam LLC boosted its stake in McDonald’s by 1.7% during the third quarter. McAdam LLC now owns 2,176 shares of the fast-food giant’s stock worth $663,000 after acquiring an additional 36 shares in the last quarter. 70.29% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Christopher J. Kempczinski sold 11,727 shares of the firm’s stock in a transaction 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 completion of the sale, the chief executive officer now owns 49,885 shares of the company’s stock, valued at $14,966,996.55. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other McDonald’s news, CEO Christopher J. Kempczinski sold 11,727 shares of the stock in a transaction 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 completion of 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Christopher J. Kempczinski sold 9,291 shares of the stock in a transaction on Friday, September 27th. The stock was sold at an average price of $305.00, for a total value of $2,833,755.00. Following the completion of the transaction, the chief executive officer now owns 43,256 shares of the company’s stock, valued at approximately $13,193,080. 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 sold 34,097 shares of company stock valued at $10,256,818. 0.23% of the stock is currently owned by company insiders.

McDonald’s Price Performance

Shares of NYSE MCD opened at $295.03 on Wednesday. McDonald’s Co. has a one year low of $243.53 and a one year high of $317.90. The firm’s 50 day simple moving average is $298.15 and its two-hundred day simple moving average is $275.35. The stock has a market capitalization of $211.64 billion, a P/E ratio of 25.81, a PEG ratio of 4.13 and a beta of 0.73.

McDonald’s (NYSE:MCD) last released its quarterly earnings data on Monday, July 29th. The fast-food giant reported $2.97 earnings per share for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.10). The company had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.62 billion. McDonald’s had a net margin of 32.25% and a negative return on equity of 178.68%. The business’s revenue for the quarter was down .1% compared to the same quarter last year. During the same period last year, the company posted $3.17 EPS. As a group, equities analysts expect that McDonald’s Co. will post 11.73 earnings per share for the current fiscal year.

McDonald’s Increases Dividend

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date of this dividend is Monday, December 2nd. This is a positive change from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s dividend payout ratio is 61.94%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. JPMorgan Chase & Co. boosted their price objective on McDonald’s from $270.00 to $290.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Wedbush reaffirmed an “outperform” rating and issued a $295.00 target price on shares of McDonald’s in a report on Wednesday, October 23rd. Guggenheim downgraded shares of McDonald’s from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $290.00 to $285.00 in a report on Wednesday, October 23rd. Morgan Stanley raised their target price on McDonald’s from $296.00 to $340.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 15th. Finally, Jefferies Financial Group lifted their target price on shares of McDonald’s from $310.00 to $330.00 and gave the stock a “buy” rating in a research note on Monday, September 9th. Thirteen research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. Based on data from MarketBeat, McDonald’s presently has an average rating of “Moderate Buy” and a consensus price target of $318.22.

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.