Icon Wealth Advisors LLC Has $456,000 Stock Holdings in McDonald’s Co. (NYSE:MCD)

Icon Wealth Advisors LLC reduced its position in McDonald’s Co. (NYSE:MCD) by 90.2% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 1,499 shares of the fast-food giant’s stock after selling 13,777 shares during the period. Icon Wealth Advisors LLC’s holdings in McDonald’s were worth $456,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Steigerwald Gordon & Koch Inc. raised its holdings in McDonald’s by 2.4% during the 3rd quarter. Steigerwald Gordon & Koch Inc. now owns 1,422 shares of the fast-food giant’s stock worth $433,000 after purchasing an additional 33 shares during the last quarter. Riversedge Advisors LLC raised its stake in shares of McDonald’s by 2.0% during the third quarter. Riversedge Advisors LLC now owns 1,686 shares of the fast-food giant’s stock worth $513,000 after buying an additional 33 shares during the last quarter. Proquility Private Wealth Partners LLC raised its stake in shares of McDonald’s by 1.0% during the third quarter. Proquility Private Wealth Partners LLC now owns 3,472 shares of the fast-food giant’s stock worth $1,057,000 after buying an additional 35 shares during the last quarter. Clear Creek Financial Management LLC lifted its holdings in McDonald’s by 2.8% in the third quarter. Clear Creek Financial Management LLC now owns 1,300 shares of the fast-food giant’s stock valued at $396,000 after buying an additional 35 shares during the period. Finally, GDS Wealth Management boosted its stake in McDonald’s by 1.4% in the third quarter. GDS Wealth Management now owns 2,504 shares of the fast-food giant’s stock valued at $762,000 after acquiring an additional 35 shares during the last quarter. Institutional investors own 70.29% of the company’s stock.

Insider Buying and Selling at McDonald’s

In other McDonald’s news, CMO Edith Morgan Flatley sold 2,346 shares of McDonald’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $310.00, for a total transaction of $727,260.00. Following the completion of the transaction, the chief marketing officer now directly owns 2,905 shares of the company’s stock, valued at $900,550. The trade was a 44.68 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Christopher J. Kempczinski sold 11,727 shares of the company’s stock in a transaction 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 completion of the transaction, the chief executive officer now owns 49,885 shares in the company, valued at approximately $14,966,996.55. This represents a 19.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 34,498 shares of company stock worth $10,381,296 over the last quarter. 0.23% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

MCD has been the topic of a number of analyst reports. TD Cowen reissued a “hold” rating and issued a $300.00 price target on shares of McDonald’s in a research note on Tuesday, October 29th. Morgan Stanley raised their target price on McDonald’s from $296.00 to $340.00 and gave the stock an “overweight” rating in a report on Tuesday, October 15th. Robert W. Baird cut McDonald’s from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $320.00 to $290.00 in a research note on Wednesday, October 23rd. BMO Capital Markets increased their price target on shares of McDonald’s from $315.00 to $335.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. upped their target price on shares of McDonald’s from $270.00 to $290.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Thirteen research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat.com, McDonald’s presently has a consensus rating of “Moderate Buy” and a consensus target price of $319.46.

McDonald’s Price Performance

McDonald’s stock opened at $290.28 on Friday. The company has a market cap of $208.02 billion, a price-to-earnings ratio of 25.49, a P/E/G ratio of 3.84 and a beta of 0.74. The firm has a 50-day moving average of $299.85 and a 200-day moving average of $278.13. McDonald’s Co. has a one year low of $243.53 and a one year high of $317.90.

McDonald’s (NYSE:MCD) last issued its quarterly earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 EPS for the quarter, beating the consensus estimate of $3.18 by $0.05. The firm had revenue of $6.87 billion during the quarter, compared to analysts’ expectations of $6.82 billion. McDonald’s had a negative return on equity of 175.42% and a net margin of 31.79%. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.19 earnings per share. As a group, sell-side 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 announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a dividend of $1.77 per share. This represents a $7.08 dividend on an annualized basis and a yield of 2.44%. This is an increase 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 presently 62.16%.

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.