Chicago Capital LLC Sells 393 Shares of McDonald’s Co. (NYSE:MCD)

Chicago Capital LLC trimmed its stake in shares of McDonald’s Co. (NYSE:MCD) by 2.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,465 shares of the fast-food giant’s stock after selling 393 shares during the quarter. Chicago Capital LLC’s holdings in McDonald’s were worth $5,014,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Dixon Mitchell Investment Counsel Inc. acquired a new position in McDonald’s in the 1st quarter valued at about $28,000. Kings Path Partners LLC bought a new position in shares of McDonald’s during the second quarter worth approximately $38,000. Keener Financial Planning LLC lifted its holdings in McDonald’s by 32.3% during the 1st quarter. Keener Financial Planning LLC now owns 176 shares of the fast-food giant’s stock worth $50,000 after purchasing an additional 43 shares during the last quarter. Opal Wealth Advisors LLC bought a new stake in McDonald’s in the 2nd quarter valued at $59,000. Finally, Bbjs Financial Advisors LLC acquired a new position in McDonald’s in the 2nd quarter valued at $65,000. 70.29% of the stock is currently owned by institutional investors and hedge funds.

McDonald’s Price Performance

MCD opened at $316.56 on Friday. The company’s 50 day moving average price is $294.62 and its two-hundred day moving average price is $273.70. The firm has a market capitalization of $228.14 billion, a price-to-earnings ratio of 26.87, a PEG ratio of 4.05 and a beta of 0.73. McDonald’s Co. has a fifty-two week low of $243.53 and a fifty-two week high of $317.18.

McDonald’s (NYSE:MCD) last posted its quarterly earnings data on Monday, July 29th. The fast-food giant reported $2.97 earnings per share for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.10). The company had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.62 billion. McDonald’s had a net margin of 32.25% and a negative return on equity of 178.68%. The business’s revenue for the quarter was down .1% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.17 earnings per share. As a group, equities research analysts predict that McDonald’s Co. will post 11.71 EPS for the current year.

McDonald’s Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a $1.77 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This is a boost from McDonald’s’s previous quarterly dividend of $1.67. This represents a $7.08 annualized dividend and a yield of 2.24%. McDonald’s’s dividend payout ratio is presently 60.10%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on MCD. The Goldman Sachs Group boosted their target price on shares of McDonald’s from $284.00 to $325.00 and gave the company a “neutral” rating in a research report on Tuesday, September 24th. Barclays decreased their target price on shares of McDonald’s from $320.00 to $300.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 30th. Robert W. Baird lifted their price target on shares of McDonald’s from $280.00 to $320.00 and gave the company an “outperform” rating in a research report on Thursday, September 26th. Evercore ISI increased their price target on McDonald’s from $320.00 to $340.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 15th. Finally, Guggenheim lifted their price objective on McDonald’s from $280.00 to $290.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Ten investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to MarketBeat.com, McDonald’s currently has a consensus rating of “Moderate Buy” and an average price target of $315.69.

Insider Buying and Selling at McDonald’s

In other news, CMO Edith Morgan Flatley sold 2,346 shares of the company’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $310.00, for a total value of $727,260.00. Following the sale, the chief marketing officer now directly owns 2,905 shares of the company’s stock, valued at approximately $900,550. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other McDonald’s news, insider Joseph M. Erlinger sold 1,098 shares of the business’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 of the company’s stock, valued at approximately $3,632,712.10. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CMO Edith Morgan Flatley sold 2,346 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $310.00, for a total transaction of $727,260.00. Following the sale, the chief marketing officer now directly owns 2,905 shares of the company’s stock, valued at approximately $900,550. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 34,097 shares of company stock valued at $10,221,233. 0.23% of the stock is currently owned by company insiders.

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.