Payden & Rygel Decreases Holdings in McDonald’s Co. (NYSE:MCD)

Payden & Rygel reduced its position in McDonald’s Co. (NYSE:MCD) by 42.4% during the 3rd quarter, Holdings Channel.com reports. The firm owned 45,100 shares of the fast-food giant’s stock after selling 33,200 shares during the period. Payden & Rygel’s holdings in McDonald’s were worth $13,733,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in MCD. EverSource Wealth Advisors LLC boosted its position in shares of McDonald’s by 4.6% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 8,513 shares of the fast-food giant’s stock worth $2,593,000 after purchasing an additional 375 shares in the last quarter. Altman Advisors Inc. acquired a new stake in McDonald’s in the third quarter worth about $1,722,000. Darwin Wealth Management LLC purchased a new stake in shares of McDonald’s during the third quarter worth about $212,000. First Horizon Advisors Inc. increased its holdings in shares of McDonald’s by 7.7% during the third quarter. First Horizon Advisors Inc. now owns 125,079 shares of the fast-food giant’s stock valued at $38,088,000 after acquiring an additional 8,891 shares in the last quarter. Finally, Hilton Capital Management LLC raised its position in shares of McDonald’s by 2.2% in the 3rd quarter. Hilton Capital Management LLC now owns 42,653 shares of the fast-food giant’s stock valued at $12,988,000 after purchasing an additional 927 shares during the last quarter. 70.29% of the stock is owned by institutional investors and hedge funds.

Insider Activity at McDonald’s

In related news, insider Joseph M. Erlinger sold 1,098 shares of the company’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 value of $316,992.60. Following the transaction, the insider now directly owns 12,583 shares in the company, valued at approximately $3,632,712.10. This represents a 8.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Marion K. Gross sold 1,498 shares of the firm’s stock in a transaction 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 sale, the executive vice president now directly owns 1,560 shares of the company’s stock, valued at approximately $446,721.60. This trade represents a 48.99 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 35,596 shares of company stock valued at $10,698,289. 0.23% of the stock is owned by company insiders.

McDonald’s Stock Up 0.1 %

MCD stock opened at $290.89 on Thursday. The stock has a market capitalization of $208.46 billion, a P/E ratio of 25.54, a P/E/G ratio of 3.87 and a beta of 0.74. McDonald’s Co. has a 52 week low of $243.53 and a 52 week high of $317.90. The firm has a 50-day simple moving average of $300.06 and a 200-day simple moving average of $277.84.

McDonald’s (NYSE:MCD) last posted 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 firm had revenue of $6.87 billion during the quarter, compared to the consensus estimate of $6.82 billion. McDonald’s had a negative return on equity of 175.42% and a net margin of 31.79%. The firm’s revenue was up 2.7% compared to the same quarter last year. During the same period in the prior year, the company earned $3.19 EPS. On average, analysts expect that McDonald’s Co. will post 11.77 earnings per share for the current year.

McDonald’s Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a dividend of $1.77 per share. This is a boost from McDonald’s’s previous quarterly dividend of $1.67. The ex-dividend date is Monday, December 2nd. This represents a $7.08 annualized dividend and a dividend yield of 2.43%. McDonald’s’s payout ratio is presently 58.65%.

Wall Street Analysts Forecast Growth

MCD has been the topic of several research analyst reports. Citigroup boosted their target price on shares of McDonald’s from $301.00 to $317.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Morgan Stanley upped their target price on McDonald’s from $296.00 to $340.00 and gave the company an “overweight” rating in a research report on Tuesday, October 15th. Barclays raised their target price on McDonald’s from $300.00 to $325.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 22nd. Loop Capital reiterated a “buy” rating on shares of McDonald’s in a research note on Friday, October 18th. Finally, TD Cowen restated a “hold” rating and issued a $300.00 price objective on shares of McDonald’s in a research note on Tuesday, October 29th. Thirteen analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat, McDonald’s presently has a consensus rating of “Moderate Buy” and an average target price of $319.46.

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.