Los Angeles Capital Management LLC Cuts Stock Position in McDonald’s Co. (NYSE:MCD)

Los Angeles Capital Management LLC lowered its holdings in McDonald’s Co. (NYSE:MCD) by 49.0% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,940 shares of the fast-food giant’s stock after selling 12,443 shares during the period. Los Angeles Capital Management LLC’s holdings in McDonald’s were worth $3,940,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Kings Path Partners LLC purchased a new stake in shares of McDonald’s during the second quarter worth approximately $38,000. Hara Capital LLC purchased a new stake in shares of McDonald’s in the 3rd quarter valued at approximately $44,000. Opal Wealth Advisors LLC acquired a new stake in shares of McDonald’s in the 2nd quarter valued at $59,000. Bbjs Financial Advisors LLC purchased a new stake in shares of McDonald’s during the 2nd quarter worth $65,000. Finally, Macroview Investment Management LLC grew its stake in shares of McDonald’s by 433.3% during the second quarter. Macroview Investment Management LLC now owns 256 shares of the fast-food giant’s stock worth $65,000 after purchasing an additional 208 shares in the last quarter. 70.29% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other McDonald’s news, CEO Christopher J. Kempczinski sold 11,727 shares of McDonald’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 49,885 shares in the company, valued at approximately $14,966,996.55. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Joseph M. Erlinger sold 1,098 shares of the business’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 transaction, the insider now 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Christopher J. Kempczinski sold 11,727 shares of the firm’s stock in a transaction dated 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 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 disclosure for this sale can be found here. Insiders have sold 35,596 shares of company stock worth $10,698,289 in the last three months. Corporate insiders own 0.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on MCD. KeyCorp lifted their price target on McDonald’s from $305.00 to $330.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Argus raised McDonald’s from a “hold” rating to a “buy” rating in a report on Tuesday, October 8th. The Goldman Sachs Group raised their price objective on shares of McDonald’s from $284.00 to $325.00 and gave the stock a “neutral” rating in a report on Tuesday, September 24th. Barclays upped their target price on shares of McDonald’s from $300.00 to $325.00 and gave the company an “overweight” rating in a report on Tuesday, October 22nd. Finally, Guggenheim cut shares of McDonald’s from a “buy” rating to a “neutral” rating and reduced their price target for the company from $290.00 to $285.00 in a research report on Wednesday, October 23rd. Thirteen research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat.com, McDonald’s currently has a consensus rating of “Moderate Buy” and an average target price of $319.46.

McDonald’s Trading Down 1.0 %

MCD stock opened at $298.65 on Wednesday. The company’s 50-day moving average price is $299.34 and its 200 day moving average price is $276.82. McDonald’s Co. has a 52 week low of $243.53 and a 52 week high of $317.90. The company has a market cap of $214.23 billion, a P/E ratio of 26.47, a P/E/G ratio of 3.98 and a beta of 0.74.

McDonald’s (NYSE:MCD) last announced its quarterly earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 EPS for the quarter, topping the consensus estimate of $3.18 by $0.05. The business had revenue of $6.87 billion for the quarter, compared to analyst estimates of $6.82 billion. McDonald’s had a negative return on equity of 178.99% and a net margin of 31.79%. The company’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.19 EPS. On average, equities research analysts expect that McDonald’s Co. will post 11.77 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. Stockholders of record on Monday, December 2nd will be paid a dividend of $1.77 per share. This represents a $7.08 annualized dividend and a dividend yield of 2.37%. The ex-dividend date is Monday, December 2nd. This is an increase from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s payout ratio is 58.65%.

About McDonald’s

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.