McDonald’s Co. (NYSE:MCD) Shares Sold by Fortune Financial Advisors LLC

Fortune Financial Advisors LLC decreased its holdings in shares of McDonald’s Co. (NYSE:MCD) by 1.4% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 3,269 shares of the fast-food giant’s stock after selling 45 shares during the period. Fortune Financial Advisors LLC’s holdings in McDonald’s were worth $995,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Legal & General Group Plc increased its stake in McDonald’s by 3.2% during the 2nd quarter. Legal & General Group Plc now owns 6,149,080 shares of the fast-food giant’s stock valued at $1,567,030,000 after purchasing an additional 188,888 shares in the last quarter. Capital Research Global Investors increased 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 valued at $1,542,550,000 after acquiring an additional 2,193,769 shares during the period. Ameriprise Financial Inc. raised its stake in McDonald’s by 8.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 4,761,625 shares of the fast-food giant’s stock worth $1,216,677,000 after acquiring an additional 354,196 shares during the last quarter. Capital World Investors lifted its position in McDonald’s by 39.7% during the 1st quarter. Capital World Investors now owns 3,565,398 shares of the fast-food giant’s stock worth $1,005,264,000 after acquiring an additional 1,012,534 shares during the period. Finally, International Assets Investment Management LLC grew its stake in McDonald’s by 31,151.1% during the 3rd 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 purchasing an additional 2,311,721 shares during the last quarter. Institutional investors and hedge funds own 70.29% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on MCD shares. Robert W. Baird downgraded McDonald’s from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $320.00 to $290.00 in a report on Wednesday. BMO Capital Markets dropped their price objective on shares of McDonald’s from $330.00 to $315.00 and set an “outperform” rating on the stock in a report on Tuesday, July 30th. Jefferies Financial Group raised their target price on shares of McDonald’s from $310.00 to $330.00 and gave the stock a “buy” rating in a report on Monday, September 9th. TD Cowen reaffirmed a “hold” rating and issued a $300.00 price target on shares of McDonald’s in a report on Wednesday. Finally, Guggenheim lowered McDonald’s from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $290.00 to $285.00 in a research note on Wednesday. Thirteen equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to MarketBeat.com, McDonald’s has an average rating of “Moderate Buy” and a consensus target price of $318.22.

McDonald’s Price Performance

Shares of NYSE:MCD opened at $292.61 on Friday. McDonald’s Co. has a 1 year low of $243.53 and a 1 year high of $317.90. The firm has a market capitalization of $210.88 billion, a PE ratio of 24.84, a P/E/G ratio of 4.13 and a beta of 0.73. The business’s 50 day moving average price is $297.78 and its 200-day moving average price is $274.91.

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

McDonald’s Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a $1.77 dividend. This represents a $7.08 dividend on an annualized basis and a yield of 2.42%. This is a positive change from McDonald’s’s previous quarterly dividend of $1.67. The ex-dividend date of this dividend is Monday, December 2nd. McDonald’s’s dividend payout ratio (DPR) is 60.10%.

Insider Transactions at McDonald’s

In related news, EVP Marion K. Gross sold 1,498 shares of the stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 1,560 shares of the company’s stock, valued at approximately $446,721.60. This trade 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. 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 value of $316,992.60. Following the completion of the sale, the insider now owns 12,583 shares of the company’s stock, valued at approximately $3,632,712.10. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Marion K. Gross sold 1,498 shares of McDonald’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $286.36, for a total transaction of $428,967.28. Following the transaction, the executive vice president now directly owns 1,560 shares in the company, valued at $446,721.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 34,097 shares of company stock worth $10,256,818 in the last ninety days. Insiders own 0.23% of the company’s stock.

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.