Brighton Jones LLC Sells 654 Shares of McDonald’s Co. (NYSE:MCD)

Brighton Jones LLC decreased its holdings in McDonald’s Co. (NYSE:MCD) by 7.9% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 7,637 shares of the fast-food giant’s stock after selling 654 shares during the quarter. Brighton Jones LLC’s holdings in McDonald’s were worth $2,326,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Key Client Fiduciary Advisors LLC lifted its position in McDonald’s by 2.8% during the first quarter. Key Client Fiduciary Advisors LLC now owns 1,432 shares of the fast-food giant’s stock valued at $404,000 after purchasing an additional 39 shares in the last quarter. Aspiriant LLC grew its stake in shares of McDonald’s by 2.8% during the 1st quarter. Aspiriant LLC now owns 3,216 shares of the fast-food giant’s stock valued at $907,000 after acquiring an additional 87 shares during the period. Wealthcare Advisory Partners LLC increased its holdings in McDonald’s by 24.5% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 10,865 shares of the fast-food giant’s stock worth $3,063,000 after acquiring an additional 2,140 shares in the last quarter. Signet Financial Management LLC raised its stake in McDonald’s by 1.5% during the 1st quarter. Signet Financial Management LLC now owns 6,844 shares of the fast-food giant’s stock worth $1,930,000 after acquiring an additional 100 shares during the period. Finally, Edge Wealth Management LLC lifted its holdings in McDonald’s by 0.6% during the first quarter. Edge Wealth Management LLC now owns 25,918 shares of the fast-food giant’s stock valued at $7,308,000 after purchasing an additional 164 shares in the last quarter. 70.29% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at McDonald’s

In related news, EVP Marion K. Gross sold 1,498 shares of the business’s 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 in the company, valued at approximately $446,721.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CMO Edith Morgan Flatley sold 2,346 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief marketing officer now owns 2,905 shares of the company’s stock, valued at approximately $900,550. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Marion K. Gross sold 1,498 shares of McDonald’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were 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 approximately $446,721.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 32,998 shares of company stock valued at $9,935,493. 0.23% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on MCD. Guggenheim cut shares of McDonald’s from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $290.00 to $285.00 in a research note on Wednesday. Wells Fargo & Company raised their price target on McDonald’s from $285.00 to $350.00 and gave the company an “overweight” rating in a report on Monday. Morgan Stanley upped their price objective on McDonald’s from $296.00 to $340.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 15th. Wedbush reissued an “outperform” rating and issued a $295.00 price target on shares of McDonald’s in a report on Wednesday. Finally, Evercore ISI increased their price objective 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. Twelve investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to MarketBeat, McDonald’s has a consensus rating of “Moderate Buy” and a consensus price target of $318.22.

McDonald’s Stock Performance

Shares of NYSE MCD opened at $298.75 on Thursday. McDonald’s Co. has a fifty-two week low of $243.53 and a fifty-two week high of $317.90. The company has a market cap of $215.30 billion, a price-to-earnings ratio of 25.36, a PEG ratio of 4.05 and a beta of 0.73. The business’s 50 day moving average price is $296.97 and its 200-day moving average price is $274.51.

McDonald’s (NYSE:MCD) last released its earnings results 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 business had revenue of $6.49 billion during 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%. 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 business earned $3.17 EPS. Sell-side analysts predict that McDonald’s Co. will post 11.71 earnings per share for the current year.

McDonald’s Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a $1.77 dividend. This represents a $7.08 annualized dividend and a yield of 2.37%. This is a boost from McDonald’s’s previous quarterly dividend of $1.67. The ex-dividend date of this dividend is Monday, December 2nd. McDonald’s’s payout ratio is 60.10%.

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.