Verdence Capital Advisors LLC Sells 113 Shares of McDonald’s Co. (NYSE:MCD)

Verdence Capital Advisors LLC cut its holdings in McDonald’s Co. (NYSE:MCD) by 0.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,895 shares of the fast-food giant’s stock after selling 113 shares during the quarter. Verdence Capital Advisors LLC’s holdings in McDonald’s were worth $3,622,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MCD. International Assets Investment Management LLC increased its holdings in McDonald’s by 31,151.1% during the third quarter. International Assets Investment Management LLC now owns 2,319,142 shares of the fast-food giant’s stock valued at $706,202,000 after buying an additional 2,311,721 shares during the period. Capital Research Global Investors raised its position in shares of McDonald’s by 66.9% in the 1st quarter. Capital Research Global Investors now owns 5,471,007 shares of the fast-food giant’s stock worth $1,542,550,000 after acquiring an additional 2,193,769 shares in the last quarter. Swedbank AB purchased a new stake in shares of McDonald’s during the 1st quarter worth $348,206,000. Capital World Investors boosted its position in McDonald’s by 39.7% during the first quarter. Capital World Investors now owns 3,565,398 shares of the fast-food giant’s stock valued at $1,005,264,000 after purchasing an additional 1,012,534 shares in the last quarter. Finally, Mondrian Investment Partners LTD purchased a new position in McDonald’s in the second quarter valued at about $110,321,000. 70.29% of the stock is currently owned by institutional investors.

McDonald’s Stock Up 1.5 %

MCD stock opened at $298.97 on Friday. McDonald’s Co. has a 52-week low of $243.53 and a 52-week high of $317.90. The company’s 50-day simple moving average is $299.08 and its 200-day simple moving average is $276.64. The firm has a market cap of $214.46 billion, a P/E ratio of 26.25, a PEG ratio of 3.91 and a beta of 0.74.

McDonald’s (NYSE:MCD) last issued its quarterly earnings data on Tuesday, October 29th. The fast-food giant reported $3.23 EPS for the quarter, beating the consensus estimate of $3.18 by $0.05. The company had revenue of $6.87 billion for the quarter, compared to analyst estimates of $6.82 billion. McDonald’s had a negative return on equity of 178.99% and a net margin of 31.79%. McDonald’s’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period last year, the company earned $3.19 earnings per share. On average, analysts anticipate that McDonald’s Co. will post 11.77 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. Shareholders of record on Monday, December 2nd will be issued a dividend of $1.77 per share. This represents a $7.08 annualized dividend and a yield of 2.37%. This is an increase from McDonald’s’s previous quarterly dividend of $1.67. The ex-dividend date is Monday, December 2nd. McDonald’s’s dividend payout ratio (DPR) is presently 58.65%.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Deutsche Bank Aktiengesellschaft decreased their price target on shares of McDonald’s from $295.00 to $290.00 and set a “buy” rating for the company in a research report on Tuesday, July 30th. Stifel Nicolaus lowered their target price on shares of McDonald’s from $285.00 to $265.00 and set a “hold” rating for the company in a research note on Monday, July 22nd. UBS Group upped their price target on McDonald’s from $305.00 to $345.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Guggenheim downgraded McDonald’s from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $290.00 to $285.00 in a research note on Wednesday, October 23rd. Finally, Argus upgraded McDonald’s from a “hold” rating to a “buy” rating in a research note on Tuesday, October 8th. Thirteen research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $319.46.

Insider Activity

In related news, insider Joseph M. Erlinger sold 1,098 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $288.70, for a total transaction of $316,992.60. Following the completion of the transaction, the insider now owns 12,583 shares in the company, valued at $3,632,712.10. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Joseph M. Erlinger sold 1,098 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $288.70, for a total transaction of $316,992.60. Following the completion of the sale, the insider now directly owns 12,583 shares in the company, valued at approximately $3,632,712.10. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Christopher J. Kempczinski sold 11,727 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief executive officer now owns 49,885 shares in the company, valued at $14,966,996.55. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 35,596 shares of company stock worth $10,698,289 over the last 90 days. 0.23% of the stock is currently owned by company insiders.

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.