Foster Victor Wealth Advisors LLC Reduces Position in McDonald’s Co. (NYSE:MCD)

Foster Victor Wealth Advisors LLC cut its holdings in McDonald’s Co. (NYSE:MCD) by 4.5% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 865 shares of the fast-food giant’s stock after selling 41 shares during the period. Foster Victor Wealth Advisors LLC’s holdings in McDonald’s were worth $263,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Dixon Mitchell Investment Counsel Inc. purchased a new stake in shares of McDonald’s in the first quarter worth about $28,000. Kings Path Partners LLC purchased a new stake in McDonald’s in the 2nd quarter worth approximately $38,000. Keener Financial Planning LLC boosted its holdings 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 purchasing an additional 43 shares during the period. Opal Wealth Advisors LLC purchased a new position in shares of McDonald’s during the 2nd quarter valued at $59,000. Finally, Redmont Wealth Advisors LLC bought a new position in shares of McDonald’s in the first quarter worth $69,000. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

McDonald’s Stock Down 0.1 %

NYSE MCD opened at $312.93 on Thursday. McDonald’s Co. has a 52 week low of $243.53 and a 52 week high of $315.36. The company has a market capitalization of $225.52 billion, a P/E ratio of 26.56, a price-to-earnings-growth ratio of 4.05 and a beta of 0.73. The stock’s 50-day moving average price is $292.77 and its 200-day moving average price is $273.19.

McDonald’s (NYSE:MCD) last released its quarterly earnings data 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). McDonald’s had a negative return on equity of 178.68% and a net margin of 32.25%. The business had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $6.62 billion. During the same period last year, the company earned $3.17 EPS. The business’s revenue was down .1% on a year-over-year basis. Research analysts anticipate that McDonald’s Co. will post 11.71 EPS for the current year.

McDonald’s Increases Dividend

The firm 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 $1.77 dividend. The ex-dividend date is Monday, December 2nd. This is a positive change from McDonald’s’s previous quarterly dividend of $1.67. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.26%. McDonald’s’s dividend payout ratio (DPR) is 60.10%.

Wall Street Analyst Weigh In

Several research firms recently commented on MCD. Guggenheim boosted their target price on McDonald’s from $280.00 to $290.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Citigroup boosted their price objective on McDonald’s from $301.00 to $317.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. The Goldman Sachs Group lifted their target price on shares of McDonald’s from $284.00 to $325.00 and gave the company a “neutral” rating in a research report on Tuesday, September 24th. Stifel Nicolaus decreased their price target on shares of McDonald’s from $285.00 to $265.00 and set a “hold” rating on the stock in a report on Monday, July 22nd. Finally, KeyCorp lifted their price objective on shares of McDonald’s from $305.00 to $330.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Ten research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $315.69.

Insider Buying and Selling

In other news, CEO Christopher J. Kempczinski sold 11,727 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $300.03, for a total value 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. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other McDonald’s news, CEO Christopher J. Kempczinski sold 9,291 shares of the company’s stock in a transaction on Friday, September 27th. The stock was sold at an average price of $305.00, for a total value of $2,833,755.00. Following the transaction, the chief executive officer now owns 43,256 shares of the company’s stock, valued at $13,193,080. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available 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 completion of the transaction, 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 34,097 shares of company stock worth $10,221,233. Insiders own 0.23% of the company’s stock.

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.