Asset Dedication LLC Sells 4,051 Shares of McDonald’s Co. (NYSE:MCD)

Asset Dedication LLC lowered its position in McDonald’s Co. (NYSE:MCD) by 23.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,506 shares of the fast-food giant’s stock after selling 4,051 shares during the period. Asset Dedication LLC’s holdings in McDonald’s were worth $3,915,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in MCD. Kennebec Savings Bank purchased a new position in shares of McDonald’s during the third quarter worth approximately $1,394,000. Charles Schwab Investment Management Inc. increased its holdings in McDonald’s by 0.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 5,564,359 shares of the fast-food giant’s stock valued at $1,694,403,000 after buying an additional 49,106 shares during the period. U.S. Capital Wealth Advisors LLC increased its holdings in 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 buying an additional 2,997 shares during the period. PFW Advisors LLC purchased a new position in McDonald’s during the fourth quarter valued at approximately $2,471,000. Finally, Weiss Asset Management LP purchased a new position in McDonald’s during the third quarter valued at approximately $16,870,000. Institutional investors own 70.29% of the company’s stock.

McDonald’s Trading Down 0.6 %

Shares of NYSE MCD opened at $291.48 on Wednesday. McDonald’s Co. has a 12-month low of $243.53 and a 12-month high of $317.90. The stock has a market cap of $208.88 billion, a PE ratio of 25.59, a P/E/G ratio of 3.66 and a beta of 0.73. The company has a 50-day moving average of $291.12 and a 200 day moving average of $289.23.

McDonald’s (NYSE:MCD) last announced its quarterly earnings data on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.18 by $0.05. McDonald’s had a net margin of 31.79% and a negative return on equity of 175.42%. The company had revenue of $6.87 billion during the quarter, compared to analysts’ expectations of $6.82 billion. During the same quarter in the prior year, the company earned $3.19 EPS. McDonald’s’s revenue was up 2.7% compared to the same quarter last year. On average, sell-side analysts forecast that McDonald’s Co. will post 11.72 EPS for the current fiscal year.

Insider Activity at McDonald’s

In other McDonald’s news, EVP Marion K. Gross sold 1,499 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $294.51, for a total value of $441,470.49. Following the transaction, the executive vice president now directly owns 1,560 shares in the company, valued at $459,435.60. The trade was a 49.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Joseph M. Erlinger sold 300 shares of the company’s stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $280.75, for a total transaction of $84,225.00. Following the completion of the transaction, the insider now owns 7,887 shares in the company, valued at approximately $2,214,275.25. This represents a 3.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,905 shares of company stock valued at $2,592,327. Corporate insiders own 0.23% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Robert W. Baird downgraded shares of McDonald’s from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $320.00 to $290.00 in a research note on Wednesday, October 23rd. Guggenheim downgraded shares of McDonald’s from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $290.00 to $285.00 in a research note on Wednesday, October 23rd. Bank of America lifted their price objective on shares of McDonald’s from $321.00 to $324.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Argus upgraded shares of McDonald’s from a “hold” rating to a “buy” rating in a research note on Tuesday, October 8th. Finally, Baird R W downgraded shares of McDonald’s from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. Ten analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $320.87.

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.