Jensen Investment Management Inc. Sells 37,743 Shares of McDonald’s Co. (NYSE:MCD)

Jensen Investment Management Inc. lowered its position in shares of McDonald’s Co. (NYSE:MCD) by 5.8% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 617,182 shares of the fast-food giant’s stock after selling 37,743 shares during the period. McDonald’s comprises about 1.6% of Jensen Investment Management Inc.’s investment portfolio, making the stock its 24th largest position. Jensen Investment Management Inc.’s holdings in McDonald’s were worth $187,938,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the business. Hantz Financial Services Inc. purchased a new position in McDonald’s during the second quarter valued at $6,612,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in shares of McDonald’s by 58.9% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 138,102 shares of the fast-food giant’s stock valued at $35,194,000 after acquiring an additional 51,210 shares in the last quarter. U.S. Capital Wealth Advisors LLC raised its position in shares of McDonald’s by 6.5% in the 3rd quarter. U.S. Capital Wealth Advisors LLC now owns 49,186 shares of the fast-food giant’s stock worth $14,978,000 after purchasing an additional 2,997 shares during the last quarter. Quintet Private Bank Europe S.A. boosted its stake in McDonald’s by 17.1% in the 3rd quarter. Quintet Private Bank Europe S.A. now owns 49,318 shares of the fast-food giant’s stock worth $15,018,000 after purchasing an additional 7,200 shares in the last quarter. Finally, First Financial Bankshares Inc increased its stake in McDonald’s by 11.7% during the 3rd quarter. First Financial Bankshares Inc now owns 313,961 shares of the fast-food giant’s stock valued at $95,604,000 after purchasing an additional 32,890 shares in the last quarter. Institutional investors own 70.29% of the company’s stock.

Analyst Ratings Changes

MCD has been the topic of several analyst reports. Guggenheim downgraded shares of McDonald’s from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $290.00 to $285.00 in a research note on Wednesday, October 23rd. BMO Capital Markets lifted their target price on McDonald’s from $315.00 to $335.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft decreased their price target on McDonald’s from $295.00 to $290.00 and set a “buy” rating for the company in a research note on Tuesday, July 30th. TD Cowen reissued a “hold” rating and issued a $300.00 target price on shares of McDonald’s in a research report on Tuesday, October 29th. Finally, Loop Capital reaffirmed a “buy” rating on shares of McDonald’s in a report on Friday, October 18th. Thirteen investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $319.46.

Insider Buying and Selling at McDonald’s

In related news, EVP Marion K. Gross sold 1,499 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $294.51, for a total value of $441,470.49. Following the completion of the transaction, the executive vice president now directly owns 1,560 shares of the company’s stock, valued at approximately $459,435.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO Christopher J. Kempczinski sold 11,727 shares of the business’s stock in a transaction that occurred on 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 transaction, 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Marion K. Gross sold 1,499 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $294.51, for a total value of $441,470.49. Following the completion of the sale, the executive vice president now owns 1,560 shares of the company’s stock, valued at approximately $459,435.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 35,596 shares of company stock worth $10,698,289 in the last quarter. 0.23% of the stock is owned by corporate insiders.

McDonald’s Stock Performance

MCD traded up $4.31 during trading on Friday, reaching $298.97. 3,279,284 shares of the company traded hands, compared to its average volume of 4,858,855. The company has a market cap of $214.46 billion, a P/E ratio of 26.25, a PEG ratio of 3.91 and a beta of 0.74. McDonald’s Co. has a 12-month low of $243.53 and a 12-month high of $317.90. The firm has a fifty day simple moving average of $299.08 and a 200 day simple moving average of $276.64.

McDonald’s (NYSE:MCD) last posted its earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share for the quarter, beating the consensus estimate of $3.18 by $0.05. The company had revenue of $6.87 billion during the quarter, compared to analysts’ expectations of $6.82 billion. McDonald’s had a net margin of 31.79% and a negative return on equity of 178.99%. McDonald’s’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period last year, the company posted $3.19 earnings per share. As a group, sell-side analysts expect that McDonald’s Co. will post 11.77 earnings per share for the current fiscal year.

McDonald’s Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a dividend of $1.77 per share. 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 yield of 2.37%. McDonald’s’s dividend payout ratio is presently 58.65%.

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.