Lake Street Private Wealth LLC Sells 2,810 Shares of McDonald’s Co. (NYSE:MCD)

Lake Street Private Wealth LLC reduced its stake in McDonald’s Co. (NYSE:MCD) by 25.6% during the third quarter, HoldingsChannel.com reports. The fund owned 8,164 shares of the fast-food giant’s stock after selling 2,810 shares during the quarter. Lake Street Private Wealth LLC’s holdings in McDonald’s were worth $2,486,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Legal & General Group Plc grew its stake in shares of McDonald’s by 3.2% in the 2nd quarter. Legal & General Group Plc now owns 6,149,080 shares of the fast-food giant’s stock worth $1,567,030,000 after buying an additional 188,888 shares in the last quarter. Capital Research Global Investors boosted its stake in shares of McDonald’s by 66.9% during the 1st quarter. Capital Research Global Investors now owns 5,471,007 shares of the fast-food giant’s stock worth $1,542,550,000 after purchasing an additional 2,193,769 shares during the period. Ameriprise Financial Inc. boosted its stake in shares of McDonald’s by 8.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 4,761,625 shares of the fast-food giant’s stock worth $1,216,677,000 after purchasing an additional 354,196 shares during the period. Capital World Investors boosted its stake in shares of McDonald’s by 39.7% during the 1st 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 period. Finally, Fayez Sarofim & Co boosted its stake in shares of McDonald’s by 0.4% during the 1st quarter. Fayez Sarofim & Co now owns 2,273,354 shares of the fast-food giant’s stock worth $640,972,000 after purchasing an additional 8,475 shares during the period. 70.29% of the stock is currently owned by institutional investors.

McDonald’s Trading Down 4.9 %

Shares of MCD stock traded down $15.30 during trading hours on Wednesday, hitting $299.39. The company’s stock had a trading volume of 9,669,792 shares, compared to its average volume of 3,395,288. The company has a 50 day moving average of $296.41 and a 200 day moving average of $274.34. The stock has a market cap of $215.76 billion, a PE ratio of 25.10, a price-to-earnings-growth ratio of 4.05 and a beta of 0.73. McDonald’s Co. has a 12-month low of $243.53 and a 12-month high of $317.90.

McDonald’s (NYSE:MCD) last announced its quarterly earnings results on Monday, July 29th. The fast-food giant reported $2.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.10). The firm had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.62 billion. McDonald’s had a negative return on equity of 178.68% and a net margin of 32.25%. The business’s quarterly revenue was down .1% on a year-over-year basis. During the same period last year, the company posted $3.17 earnings per share. As a group, analysts anticipate that McDonald’s Co. will post 11.71 earnings per share 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. Shareholders of record on Monday, December 2nd will be given a dividend of $1.77 per share. The ex-dividend date is Monday, December 2nd. This is a boost from McDonald’s’s previous quarterly dividend of $1.67. This represents a $7.08 dividend on an annualized basis and a yield of 2.36%. McDonald’s’s dividend payout ratio is currently 60.10%.

Insiders Place Their Bets

In other news, insider Joseph M. Erlinger sold 1,098 shares of the 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 completion of the sale, the insider now directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Joseph M. Erlinger sold 1,098 shares of the 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 completion of the sale, the insider now directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Joseph M. Erlinger sold 1,099 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $298.57, for a total transaction of $328,128.43. Following the completion of the sale, the insider now owns 11,484 shares of the company’s stock, valued at $3,428,777.88. This trade 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 sold 32,998 shares of company stock worth $9,935,493. Company insiders own 0.23% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Loop Capital reiterated a “buy” rating on shares of McDonald’s in a report on Friday, October 18th. Barclays lifted their price objective on shares of McDonald’s from $300.00 to $325.00 and gave the company an “overweight” rating in a report on Tuesday. TD Cowen reiterated a “hold” rating and set a $300.00 price objective on shares of McDonald’s in a report on Wednesday. Guggenheim lowered shares of McDonald’s from a “buy” rating to a “neutral” rating and reduced their price target for the company from $290.00 to $285.00 in a report on Wednesday. Finally, Argus upgraded shares of McDonald’s from a “hold” rating to a “buy” rating in a report on Tuesday, October 8th. Twelve investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat, McDonald’s currently has an average rating of “Moderate Buy” and a consensus price target of $318.22.

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.