McDonald’s Co. (NYSE:MCD) Shares Sold by GUNN & Co INVESTMENT MANAGEMENT INC.

GUNN & Co INVESTMENT MANAGEMENT INC. lessened its holdings in shares of McDonald’s Co. (NYSE:MCD) by 92.2% in the third quarter, Holdings Channel.com reports. The firm owned 13,741 shares of the fast-food giant’s stock after selling 161,923 shares during the period. McDonald’s comprises 2.9% of GUNN & Co INVESTMENT MANAGEMENT INC.’s portfolio, making the stock its 10th largest holding. GUNN & Co INVESTMENT MANAGEMENT INC.’s holdings in McDonald’s were worth $4,184,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Dixon Mitchell Investment Counsel Inc. bought a new position in McDonald’s during the 1st quarter worth approximately $28,000. Kings Path Partners LLC bought a new position in McDonald’s during the 2nd quarter worth approximately $38,000. Keener Financial Planning LLC lifted its holdings 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 worth $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 in the 2nd quarter worth approximately $59,000. Finally, Bbjs Financial Advisors LLC bought a new stake in shares of McDonald’s in the 2nd quarter worth approximately $65,000. Institutional investors and hedge funds own 70.29% of the company’s stock.

Insider Transactions at McDonald’s

In other news, insider Joseph M. Erlinger sold 1,098 shares of McDonald’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $288.70, for a total value of $316,992.60. Following the transaction, the insider now directly owns 12,583 shares in the company, valued at approximately $3,632,712.10. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CMO Edith Morgan Flatley sold 2,346 shares of the business’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $310.00, for a total transaction of $727,260.00. Following the transaction, the chief marketing officer now directly owns 2,905 shares in the company, valued at $900,550. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Joseph M. Erlinger sold 1,098 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $288.70, for a total value of $316,992.60. Following the transaction, the insider now owns 12,583 shares in the company, valued at $3,632,712.10. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 32,998 shares of company stock worth $9,935,493. Company insiders own 0.23% of the company’s stock.

McDonald’s Price Performance

Shares of NYSE:MCD opened at $298.75 on Thursday. McDonald’s Co. has a fifty-two week low of $243.53 and a fifty-two week high of $317.90. The business has a 50-day moving average of $296.97 and a two-hundred day moving average of $274.51. The stock has a market capitalization of $215.30 billion, a P/E ratio of 25.36, a P/E/G ratio of 4.05 and a beta of 0.73.

McDonald’s (NYSE:MCD) last announced its quarterly earnings results 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 company had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.62 billion. During the same period in the prior year, the firm earned $3.17 EPS. McDonald’s’s quarterly revenue was down .1% on a year-over-year basis. As a group, research analysts expect that McDonald’s Co. will post 11.71 EPS 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 paid 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 2.37%. McDonald’s’s payout ratio is presently 60.10%.

Analyst Ratings Changes

MCD has been the topic of several recent research reports. Evercore ISI raised their price target on McDonald’s from $320.00 to $340.00 and gave the stock an “outperform” rating in a report on Tuesday, October 15th. Guggenheim cut McDonald’s from a “buy” rating to a “neutral” rating and lowered their target price for the company from $290.00 to $285.00 in a research report on Wednesday. Jefferies Financial Group raised their target price on McDonald’s from $310.00 to $330.00 and gave the company a “buy” rating in a research report on Monday, September 9th. Barclays raised their target price on McDonald’s from $300.00 to $325.00 and gave the company an “overweight” rating in a research report on Tuesday. Finally, The Goldman Sachs Group lifted their price target on McDonald’s from $284.00 to $325.00 and gave the company a “neutral” rating in a research report on Tuesday, September 24th. Thirteen equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat, McDonald’s has an average rating of “Moderate Buy” and a consensus price target of $318.22.

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.