McDonald’s Co. (NYSE:MCD) Shares Sold by King Luther Capital Management Corp

King Luther Capital Management Corp reduced its holdings in McDonald’s Co. (NYSE:MCD) by 0.8% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 30,731 shares of the fast-food giant’s stock after selling 246 shares during the quarter. King Luther Capital Management Corp’s holdings in McDonald’s were worth $9,358,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in MCD. Kings Path Partners LLC purchased a new position in shares of McDonald’s during the 2nd quarter worth about $38,000. Hara Capital LLC acquired a new position in McDonald’s during the third quarter worth approximately $44,000. Peterson Financial Group Inc. acquired a new position in shares of McDonald’s in the 3rd quarter valued at $58,000. Opal Wealth Advisors LLC purchased a new stake in shares of McDonald’s during the 2nd quarter valued at $59,000. Finally, Bbjs Financial Advisors LLC acquired a new stake in shares of McDonald’s during the 2nd quarter worth $65,000. 70.29% of the stock is owned by institutional investors and hedge funds.

McDonald’s Price Performance

MCD stock opened at $288.32 on Friday. The firm has a market cap of $206.61 billion, a price-to-earnings ratio of 25.31, a PEG ratio of 3.87 and a beta of 0.74. McDonald’s Co. has a 1-year low of $243.53 and a 1-year high of $317.90. The firm has a fifty day moving average price of $299.98 and a two-hundred day moving average price of $277.91.

McDonald’s (NYSE:MCD) last released its quarterly earnings data on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share for the quarter, topping the consensus estimate of $3.18 by $0.05. McDonald’s had a net margin of 31.79% and a negative return on equity of 175.42%. The firm had revenue of $6.87 billion for the quarter, compared to analyst estimates of $6.82 billion. During the same quarter in the prior year, the business earned $3.19 earnings per share. McDonald’s’s quarterly revenue was up 2.7% on a year-over-year basis. As a group, analysts expect that McDonald’s Co. will post 11.77 EPS for the current fiscal year.

McDonald’s Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a dividend of $1.77 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $7.08 dividend on an annualized basis and a yield of 2.46%. This is a positive change from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s payout ratio is currently 58.65%.

Wall Street Analyst Weigh In

MCD has been the topic of a number of research analyst reports. Wedbush reiterated an “outperform” rating and issued a $295.00 target price on shares of McDonald’s in a report on Wednesday, October 23rd. Wells Fargo & Company increased their target price on shares of McDonald’s from $285.00 to $350.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Jefferies Financial Group boosted their price objective on shares of McDonald’s from $310.00 to $330.00 and gave the stock a “buy” rating in a research note on Monday, September 9th. Bank of America raised their target price on shares of McDonald’s from $321.00 to $324.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Finally, Citigroup upped their price target on shares of McDonald’s from $301.00 to $317.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Thirteen investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $319.46.

Insider Buying and Selling

In other McDonald’s news, CEO Christopher J. Kempczinski sold 11,727 shares of the company’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 completion of the transaction, the chief executive officer now owns 49,885 shares in the company, valued at approximately $14,966,996.55. This represents a 19.03 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CMO Edith Morgan Flatley sold 2,346 shares of McDonald’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $310.00, for a total value of $727,260.00. Following the sale, the chief marketing officer now directly owns 2,905 shares in the company, valued at $900,550. The trade was a 44.68 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 34,498 shares of company stock worth $10,381,296 in the last three months. 0.23% of the stock is owned by insiders.

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.