McDonald’s Co. (NYSE:MCD) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC lessened its holdings in McDonald’s Co. (NYSE:MCD) by 2.8% in the 3rd quarter, Holdings Channel.com reports. The fund owned 88,382 shares of the fast-food giant’s stock after selling 2,567 shares during the period. Mutual of America Capital Management LLC’s holdings in McDonald’s were worth $26,913,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Legal & General Group Plc lifted its holdings in shares of McDonald’s by 3.2% during the second quarter. Legal & General Group Plc now owns 6,149,080 shares of the fast-food giant’s stock worth $1,567,030,000 after purchasing an additional 188,888 shares during the period. Capital Research Global Investors boosted its holdings in shares of McDonald’s by 66.9% in the 1st quarter. Capital Research Global Investors now owns 5,471,007 shares of the fast-food giant’s stock valued at $1,542,550,000 after acquiring an additional 2,193,769 shares during the last quarter. Ameriprise Financial Inc. increased its stake in shares of McDonald’s by 8.0% in the second quarter. Ameriprise Financial Inc. now owns 4,761,625 shares of the fast-food giant’s stock worth $1,216,677,000 after acquiring an additional 354,196 shares during the period. Capital World Investors raised its holdings in shares of McDonald’s by 39.7% during the first quarter. Capital World Investors now owns 3,565,398 shares of the fast-food giant’s stock worth $1,005,264,000 after purchasing an additional 1,012,534 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its position in McDonald’s by 31,151.1% during the third quarter. International Assets Investment Management LLC now owns 2,319,142 shares of the fast-food giant’s stock valued at $706,202,000 after purchasing an additional 2,311,721 shares during the period. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on MCD. Citigroup lifted their price objective on McDonald’s from $301.00 to $317.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. Argus raised shares of McDonald’s from a “hold” rating to a “buy” rating in a report on Tuesday, October 8th. The Goldman Sachs Group raised their price target 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. Robert W. Baird cut McDonald’s from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $320.00 to $290.00 in a research report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. upped their price target on McDonald’s from $270.00 to $290.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. Thirteen analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $319.46.

Insiders Place Their Bets

In related news, insider Joseph M. Erlinger sold 1,099 shares of the business’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $292.38, for a total transaction of $321,325.62. Following the completion of the transaction, the insider now directly owns 10,385 shares of the company’s stock, valued at $3,036,366.30. The trade was a 9.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Marion K. Gross sold 1,499 shares of the stock in a transaction dated 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 sale, the executive vice president now directly owns 1,560 shares in the company, valued at $459,435.60. This represents a 49.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 35,596 shares of company stock worth $10,698,289 in the last ninety days. 0.23% of the stock is owned by corporate insiders.

McDonald’s Stock Down 2.0 %

MCD opened at $292.63 on Friday. The firm has a market cap of $209.70 billion, a P/E ratio of 25.69, a P/E/G ratio of 3.89 and a beta of 0.74. McDonald’s Co. has a 52 week low of $243.53 and a 52 week high of $317.90. The business has a fifty day simple moving average of $300.06 and a 200-day simple moving average of $277.46.

McDonald’s (NYSE:MCD) last released 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 the consensus estimate of $6.82 billion. McDonald’s had a negative return on equity of 175.42% and a net margin of 31.79%. McDonald’s’s revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the company posted $3.19 EPS. Sell-side analysts expect that McDonald’s Co. will post 11.77 earnings per share 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 paid a dividend of $1.77 per share. This is an increase from McDonald’s’s previous quarterly dividend of $1.67. This represents a $7.08 annualized dividend and a yield of 2.42%. The ex-dividend date is Monday, December 2nd. McDonald’s’s dividend payout ratio is presently 58.65%.

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.