Riggs Asset Managment Co. Inc. Sells 77 Shares of McDonald’s Co. (NYSE:MCD)

Riggs Asset Managment Co. Inc. cut its holdings in McDonald’s Co. (NYSE:MCD) by 9.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 770 shares of the fast-food giant’s stock after selling 77 shares during the period. Riggs Asset Managment Co. Inc.’s holdings in McDonald’s were worth $234,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Hantz Financial Services Inc. purchased a new position in McDonald’s in the second quarter worth about $6,612,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in McDonald’s by 58.9% in the second 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 during the period. U.S. Capital Wealth Advisors LLC boosted its stake in shares of McDonald’s by 6.5% during the third quarter. U.S. Capital Wealth Advisors LLC now owns 49,186 shares of the fast-food giant’s stock valued at $14,978,000 after purchasing an additional 2,997 shares in the last quarter. BNP Paribas purchased a new position in shares of McDonald’s in the 1st quarter valued at $7,898,000. Finally, First Long Island Investors LLC raised its stake in shares of McDonald’s by 16.6% during the 1st quarter. First Long Island Investors LLC now owns 54,021 shares of the fast-food giant’s stock worth $15,231,000 after acquiring an additional 7,707 shares in the last quarter. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

McDonald’s Trading Down 3.0 %

Shares of MCD opened at $292.61 on Monday. McDonald’s Co. has a 1-year low of $243.53 and a 1-year high of $317.90. The company’s fifty day simple moving average is $297.78 and its 200 day simple moving average is $274.96. The company has a market cap of $210.88 billion, a price-to-earnings ratio of 24.84, a PEG ratio of 4.13 and a beta of 0.73.

McDonald’s (NYSE:MCD) last issued its quarterly earnings results on Monday, July 29th. The fast-food giant reported $2.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.07 by ($0.10). The company had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $6.62 billion. McDonald’s had a net margin of 32.25% and a negative return on equity of 178.68%. The company’s quarterly revenue was down .1% on a year-over-year basis. During the same quarter last year, the firm posted $3.17 earnings per share. As a group, research analysts forecast that McDonald’s Co. will post 11.73 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. Investors of record on Monday, December 2nd will be given a dividend of $1.77 per share. This is a positive change 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 2.42%. McDonald’s’s dividend payout ratio (DPR) is currently 60.10%.

Insider Activity at McDonald’s

In other McDonald’s news, CEO Christopher J. Kempczinski sold 11,727 shares of the company’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $300.03, for a total transaction of $3,518,451.81. Following the completion of the sale, the chief executive officer now directly owns 49,885 shares in the company, valued at $14,966,996.55. This 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 is available at the SEC website. In related news, CEO Christopher J. Kempczinski sold 11,727 shares of McDonald’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $300.03, for a total transaction of $3,518,451.81. Following the sale, the chief executive officer now directly owns 49,885 shares in the company, valued at $14,966,996.55. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Joseph M. Erlinger sold 1,099 shares of the company’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $292.38, for a total value of $321,325.62. Following the completion of the sale, the insider now owns 10,385 shares in the company, valued at $3,036,366.30. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 34,097 shares of company stock valued at $10,256,818 over the last three months. 0.23% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Bank of America upped their price objective on shares of McDonald’s from $308.00 to $322.00 and gave the company a “neutral” rating in a report on Monday, October 21st. Evercore ISI lifted their target price 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. JPMorgan Chase & Co. upped their price target on McDonald’s from $270.00 to $290.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. The Goldman Sachs Group raised their price objective on McDonald’s from $284.00 to $325.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 24th. Finally, Citigroup increased their target price on McDonald’s from $301.00 to $317.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. Thirteen equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $318.22.

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.