BBR Partners LLC Reduces Stock Position in McDonald’s Co. (NYSE:MCD)

BBR Partners LLC reduced its holdings in shares of McDonald’s Co. (NYSE:MCD) by 1.1% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 4,987 shares of the fast-food giant’s stock after selling 57 shares during the period. BBR Partners LLC’s holdings in McDonald’s were worth $1,519,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in MCD. Kennebec Savings Bank bought a new stake in shares of McDonald’s in the 3rd quarter worth about $1,394,000. Hantz Financial Services Inc. acquired a new position in McDonald’s in the second quarter worth about $6,612,000. Charles Schwab Investment Management Inc. increased its holdings in McDonald’s by 0.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,564,359 shares of the fast-food giant’s stock valued at $1,694,403,000 after buying an additional 49,106 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in McDonald’s by 58.9% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 138,102 shares of the fast-food giant’s stock valued at $35,194,000 after buying an additional 51,210 shares in the last quarter. Finally, U.S. Capital Wealth Advisors LLC lifted its holdings in McDonald’s by 6.5% during 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 buying an additional 2,997 shares during the last quarter. Institutional investors and hedge funds own 70.29% of the company’s stock.

McDonald’s Stock Performance

Shares of NYSE MCD opened at $295.02 on Thursday. McDonald’s Co. has a 1 year low of $243.53 and a 1 year high of $317.90. The firm has a market cap of $211.42 billion, a P/E ratio of 25.90, a PEG ratio of 3.94 and a beta of 0.74. The stock has a fifty day moving average price of $299.96 and a two-hundred day moving average price of $278.67.

McDonald’s (NYSE:MCD) last announced its earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share for the quarter, beating the consensus estimate of $3.18 by $0.05. McDonald’s had a negative return on equity of 175.42% and a net margin of 31.79%. The business had revenue of $6.87 billion during the quarter, compared to analysts’ expectations of $6.82 billion. During the same quarter last year, the business posted $3.19 earnings per share. The company’s quarterly revenue was up 2.7% on a year-over-year basis. On average, research analysts predict that McDonald’s Co. will post 11.77 earnings per share for the current fiscal year.

McDonald’s Increases Dividend

The firm 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 $1.77 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $7.08 annualized dividend and a dividend yield of 2.40%. This is a boost from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s payout ratio is currently 62.16%.

Insider Buying and Selling

In related news, EVP Marion K. Gross sold 1,499 shares of McDonald’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $294.51, for a total value of $441,470.49. Following the transaction, the executive vice president now directly owns 1,560 shares in the company, valued at $459,435.60. The trade was a 49.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Joseph M. Erlinger sold 1,099 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $292.50, for a total value of $321,457.50. Following the sale, the insider now directly owns 9,286 shares of the company’s stock, valued at approximately $2,716,155. This represents a 10.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 35,597 shares of company stock worth $10,702,754 in the last ninety days. 0.23% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

MCD has been the subject of a number of research analyst reports. Citigroup boosted their price target on McDonald’s from $301.00 to $317.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Wedbush reiterated an “outperform” rating and set a $295.00 target price on shares of McDonald’s in a research note on Wednesday, October 23rd. Wells Fargo & Company increased their target price on shares of McDonald’s from $285.00 to $350.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Evercore ISI lifted their price target on shares of McDonald’s from $320.00 to $340.00 and gave the company an “outperform” rating in a report on Tuesday, October 15th. Finally, Guggenheim lowered shares of McDonald’s from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $290.00 to $285.00 in a research note on Wednesday, October 23rd. Thirteen investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $319.46.

McDonald’s Company 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.