Private Advisor Group LLC Sells 1,474 Shares of McDonald’s Co. (NYSE:MCD)

Private Advisor Group LLC cut its position in shares of McDonald’s Co. (NYSE:MCD) by 1.6% in the third quarter, Holdings Channel.com reports. The institutional investor owned 91,162 shares of the fast-food giant’s stock after selling 1,474 shares during the period. Private Advisor Group LLC’s holdings in McDonald’s were worth $27,759,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Dixon Mitchell Investment Counsel Inc. bought a new stake in shares of McDonald’s in the 1st quarter valued at approximately $28,000. Kings Path Partners LLC bought a new stake in shares of McDonald’s in the 2nd quarter valued at approximately $38,000. Keener Financial Planning LLC lifted its stake in shares of 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 last quarter. Opal Wealth Advisors LLC bought a new stake in shares of McDonald’s during the 2nd quarter worth approximately $59,000. Finally, Bbjs Financial Advisors LLC bought a new stake in shares of McDonald’s during the 2nd quarter worth approximately $65,000. 70.29% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on MCD shares. Evercore ISI raised their price target on McDonald’s from $320.00 to $340.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 15th. Barclays raised their price target on McDonald’s from $300.00 to $325.00 and gave the stock an “overweight” rating in a research note on Tuesday. Morgan Stanley raised their price target on McDonald’s from $296.00 to $340.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 15th. Bank of America raised their price target on McDonald’s from $308.00 to $322.00 and gave the stock a “neutral” rating in a research note on Monday. Finally, Citigroup raised their price target on McDonald’s from $301.00 to $317.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. Ten research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. According to MarketBeat.com, McDonald’s currently has a consensus rating of “Moderate Buy” and a consensus target price of $319.52.

McDonald’s Price Performance

McDonald’s stock opened at $314.65 on Wednesday. The stock has a market capitalization of $226.76 billion, a price-to-earnings ratio of 26.71, a PEG 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 $317.90. The business has a fifty day moving average price of $296.41 and a 200-day moving average price of $274.34.

McDonald’s (NYSE:MCD) last posted 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). The business had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.62 billion. McDonald’s had a negative return on equity of 178.68% and a net margin of 32.25%. The firm’s revenue for the quarter was down .1% compared to the same quarter last year. During the same period in the previous year, the business earned $3.17 EPS. On average, equities research analysts anticipate that McDonald’s Co. will post 11.71 earnings per share for the current fiscal year.

McDonald’s Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a $1.77 dividend. This is a boost from McDonald’s’s previous quarterly dividend of $1.67. The ex-dividend date is Monday, December 2nd. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.25%. McDonald’s’s dividend payout ratio (DPR) is presently 60.10%.

Insider Transactions at McDonald’s

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 stock was sold at an average price of $300.03, for a total transaction of $3,518,451.81. Following the completion of the sale, the chief executive officer now owns 49,885 shares of the company’s stock, valued at approximately $14,966,996.55. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other McDonald’s news, CEO Christopher J. Kempczinski sold 9,291 shares of McDonald’s stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $305.00, for a total transaction of $2,833,755.00. Following the completion of the sale, the chief executive officer now owns 43,256 shares of the company’s stock, valued at approximately $13,193,080. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Christopher J. Kempczinski sold 11,727 shares of McDonald’s stock in a transaction dated Monday, September 23rd. The stock was 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 of the company’s stock, valued at approximately $14,966,996.55. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 32,998 shares of company stock valued at $9,935,493 in the last quarter. 0.23% of the stock is currently owned by corporate insiders.

McDonald’s Company 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.