Commonwealth Equity Services LLC Cuts Stake in McDonald’s Co. (NYSE:MCD)

Commonwealth Equity Services LLC lessened its stake in McDonald’s Co. (NYSE:MCD) by 2.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 572,173 shares of the fast-food giant’s stock after selling 12,281 shares during the quarter. Commonwealth Equity Services LLC’s holdings in McDonald’s were worth $174,232,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

McDonald’s Price Performance

Shares of MCD traded up $1.86 during midday trading on Friday, hitting $316.56. The stock had a trading volume of 2,531,197 shares, compared to its average volume of 3,356,786. The stock’s 50 day moving average is $294.62 and its 200 day moving average is $273.73. The firm has a market cap of $228.14 billion, a PE ratio of 26.87, a price-to-earnings-growth ratio of 4.05 and a beta of 0.73. McDonald’s Co. has a 1 year low of $243.53 and a 1 year high of $317.18.

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

McDonald’s Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a dividend of $1.77 per share. This represents a $7.08 annualized dividend and a dividend yield of 2.24%. 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 dividend payout ratio (DPR) is 60.10%.

Insider Activity

In related news, insider Joseph M. Erlinger sold 1,099 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $260.00, for a total value of $285,740.00. Following the transaction, the insider now owns 13,681 shares of the company’s stock, valued at $3,557,060. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other McDonald’s news, EVP Marion K. Gross sold 1,498 shares of McDonald’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $286.36, for a total transaction of $428,967.28. Following the completion of the sale, the executive vice president now directly owns 1,560 shares of the company’s stock, valued at $446,721.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Joseph M. Erlinger sold 1,099 shares of the stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $260.00, for a total value of $285,740.00. Following the transaction, the insider now directly owns 13,681 shares in the company, valued at $3,557,060. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety 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.

Wall Street Analyst Weigh In

MCD has been the topic of several recent analyst reports. The Goldman Sachs Group increased their price objective on McDonald’s from $284.00 to $325.00 and gave the company a “neutral” rating in a research report on Tuesday, September 24th. Morgan Stanley lifted their price target on shares of McDonald’s from $296.00 to $340.00 and gave the stock an “overweight” rating in a research note on Tuesday. Argus upgraded shares of McDonald’s from a “hold” rating to a “buy” rating in a research report on Tuesday, October 8th. Jefferies Financial Group lifted their target price on shares of McDonald’s from $310.00 to $330.00 and gave the stock a “buy” rating in a research report on Monday, September 9th. Finally, BMO Capital Markets lowered their price target on McDonald’s from $330.00 to $315.00 and set an “outperform” rating on the stock in a report on Tuesday, July 30th. Ten investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat.com, McDonald’s has an average rating of “Moderate Buy” and an average target price of $315.69.

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.