MGB Wealth Management LLC Trims Stock Position in McDonald’s Co. (NYSE:MCD)

MGB Wealth Management LLC lowered its holdings in shares of McDonald’s Co. (NYSE:MCD) by 10.2% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,774 shares of the fast-food giant’s stock after selling 430 shares during the quarter. MGB Wealth Management LLC’s holdings in McDonald’s were worth $1,148,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in MCD. Kennebec Savings Bank purchased a new stake in McDonald’s in the 3rd quarter worth approximately $1,394,000. Hantz Financial Services Inc. purchased a new stake in McDonald’s in the 2nd quarter worth approximately $6,612,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in McDonald’s by 58.9% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 138,102 shares of the fast-food giant’s stock worth $35,194,000 after acquiring an additional 51,210 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in McDonald’s by 0.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,564,359 shares of the fast-food giant’s stock worth $1,694,403,000 after acquiring an additional 49,106 shares in the last quarter. Finally, U.S. Capital Wealth Advisors LLC increased its holdings in McDonald’s by 6.5% in the 3rd quarter. U.S. Capital Wealth Advisors LLC now owns 49,186 shares of the fast-food giant’s stock worth $14,978,000 after acquiring an additional 2,997 shares in the last quarter. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Insider Activity

In related news, CFO Ian Frederick Borden sold 5,939 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $300.04, for a total transaction of $1,781,937.56. Following the sale, the chief financial officer now owns 20,403 shares of the company’s stock, valued at $6,121,716.12. This trade represents a 22.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Marion K. Gross sold 1,498 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were 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 in the company, valued at approximately $446,721.60. The trade was a 48.99 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 34,498 shares of company stock worth $10,381,296. Company insiders own 0.23% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Robert W. Baird lowered shares of McDonald’s from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $320.00 to $290.00 in a report on Wednesday, October 23rd. Loop Capital reissued a “buy” rating on shares of McDonald’s in a report on Friday, October 18th. Baird R W downgraded McDonald’s from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. BMO Capital Markets upped their price target on McDonald’s from $315.00 to $335.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on McDonald’s from $295.00 to $290.00 and set a “buy” rating for the company in a research note on Tuesday, July 30th. Thirteen investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $319.46.

McDonald’s Stock Up 0.6 %

MCD stock opened at $290.28 on Friday. The business’s fifty day simple moving average is $299.85 and its two-hundred day simple moving average is $278.13. McDonald’s Co. has a twelve month low of $243.53 and a twelve month high of $317.90. The firm has a market cap of $208.02 billion, a price-to-earnings ratio of 25.49, a PEG ratio of 3.84 and a beta of 0.74.

McDonald’s (NYSE:MCD) last announced its quarterly earnings results 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 for the quarter, compared to analyst estimates of $6.82 billion. McDonald’s had a negative return on equity of 175.42% and a net margin of 31.79%. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter last year, the firm posted $3.19 earnings per share. Research analysts expect that McDonald’s Co. will post 11.77 EPS 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 paid a dividend of $1.77 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $7.08 annualized dividend and a dividend yield of 2.44%. This is a positive change from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s dividend payout ratio (DPR) is currently 62.16%.

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.