McDonald’s Co. (NYSE:MCD) Stock Holdings Lowered by CFS Investment Advisory Services LLC

CFS Investment Advisory Services LLC cut its holdings in shares of McDonald’s Co. (NYSE:MCD) by 48.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,317 shares of the fast-food giant’s stock after selling 7,733 shares during the period. CFS Investment Advisory Services LLC’s holdings in McDonald’s were worth $2,533,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in MCD. AlphaCore Capital LLC boosted its position in shares of McDonald’s by 6.7% in the 3rd quarter. AlphaCore Capital LLC now owns 5,563 shares of the fast-food giant’s stock valued at $1,694,000 after purchasing an additional 348 shares during the period. First County Bank CT boosted its holdings in shares of McDonald’s by 2.5% in the third quarter. First County Bank CT now owns 4,633 shares of the fast-food giant’s stock worth $1,411,000 after buying an additional 111 shares during the period. Concorde Asset Management LLC boosted its holdings in shares of McDonald’s by 28.3% in the third quarter. Concorde Asset Management LLC now owns 1,570 shares of the fast-food giant’s stock worth $478,000 after buying an additional 346 shares during the period. 49 Wealth Management LLC purchased a new position in shares of McDonald’s in the third quarter worth approximately $305,000. Finally, Eagle Asset Management Inc. raised its holdings in shares of McDonald’s by 15.0% during the third quarter. Eagle Asset Management Inc. now owns 563,777 shares of the fast-food giant’s stock valued at $168,552,000 after acquiring an additional 73,362 shares during the period. 70.29% of the stock is currently owned by institutional investors.

McDonald’s Trading Down 0.9 %

Shares of McDonald’s stock opened at $288.32 on Friday. The firm has a fifty day simple moving average of $299.98 and a 200-day simple moving average of $277.91. The stock has a market capitalization 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.

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, topping analysts’ consensus estimates of $3.18 by $0.05. The firm had revenue of $6.87 billion during the quarter, compared to analyst estimates of $6.82 billion. McDonald’s had a net margin of 31.79% and a negative return on equity of 175.42%. The business’s revenue was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.19 EPS. As a group, research analysts predict 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. Shareholders of record on Monday, December 2nd will be issued a $1.77 dividend. The ex-dividend date 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 dividend payout ratio (DPR) is 58.65%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Morgan Stanley raised their price objective on shares of McDonald’s from $296.00 to $340.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 15th. The Goldman Sachs Group raised their target price on McDonald’s from $284.00 to $325.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 24th. Loop Capital reiterated a “buy” rating on shares of McDonald’s in a report on Friday, October 18th. Jefferies Financial Group increased their price objective on McDonald’s from $310.00 to $330.00 and gave the stock a “buy” rating in a research note on Monday, September 9th. Finally, JPMorgan Chase & Co. lifted their target price on McDonald’s from $270.00 to $290.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Thirteen investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus 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 dated Wednesday, October 23rd. The stock was sold at an average price of $292.38, for a total transaction of $321,325.62. Following the transaction, the insider now directly owns 10,385 shares in the company, valued at $3,036,366.30. The trade was a 9.57 % 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, EVP Marion K. Gross sold 1,498 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $286.36, for a total value of $428,967.28. Following the completion of the transaction, the executive vice president now directly owns 1,560 shares of the company’s stock, valued at approximately $446,721.60. This trade represents a 48.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 34,498 shares of company stock valued at $10,381,296 in the last three months. Company insiders own 0.23% of the company’s stock.

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.