Baldwin Investment Management LLC Sells 670 Shares of McDonald’s Co. (NYSE:MCD)

Baldwin Investment Management LLC lessened its position in shares of McDonald’s Co. (NYSE:MCD) by 9.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,466 shares of the fast-food giant’s stock after selling 670 shares during the period. Baldwin Investment Management LLC’s holdings in McDonald’s were worth $1,969,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Legal & General Group Plc raised its position 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 acquiring an additional 188,888 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in McDonald’s by 0.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 5,564,359 shares of the fast-food giant’s stock worth $1,694,403,000 after purchasing an additional 49,106 shares during the period. Ameriprise Financial Inc. increased its holdings in 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 purchasing an additional 354,196 shares in the last quarter. International Assets Investment Management LLC lifted its stake in McDonald’s by 31,151.1% in 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 buying an additional 2,311,721 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. lifted its stake in McDonald’s by 1.1% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,015,441 shares of the fast-food giant’s stock valued at $613,722,000 after buying an additional 22,780 shares during the period. Institutional investors and hedge funds own 70.29% of the company’s stock.

McDonald’s Trading Up 0.0 %

MCD stock opened at $296.31 on Wednesday. The stock has a market cap of $212.34 billion, a P/E ratio of 26.01, a P/E/G ratio of 3.94 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 stock’s fifty day simple moving average is $299.90 and its two-hundred day simple moving average is $278.55.

McDonald’s (NYSE:MCD) last posted its quarterly earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $6.87 billion for the quarter, compared to analysts’ expectations of $6.82 billion. During the same quarter in the previous year, the firm posted $3.19 EPS. McDonald’s’s revenue was up 2.7% on a year-over-year basis. As a group, analysts forecast that McDonald’s Co. will post 11.77 earnings per share for the current fiscal year.

McDonald’s Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a $1.77 dividend. The ex-dividend date is Monday, December 2nd. This represents a $7.08 annualized dividend and a dividend yield of 2.39%. This is a positive change from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s payout ratio is 58.65%.

Insider Activity at McDonald’s

In other news, CEO Christopher J. Kempczinski sold 11,727 shares of McDonald’s stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 49,885 shares in the company, valued at approximately $14,966,996.55. This trade represents a 19.03 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Joseph M. Erlinger sold 1,099 shares of McDonald’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $292.50, for a total transaction of $321,457.50. Following the sale, the insider now directly owns 9,286 shares of the company’s stock, valued at $2,716,155. This represents a 10.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 35,597 shares of company stock worth $10,702,754. 0.23% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

MCD has been the subject of several recent analyst reports. Citigroup raised their price objective 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. BMO Capital Markets lifted their price target on shares of McDonald’s from $315.00 to $335.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. UBS Group raised their target price on McDonald’s from $305.00 to $345.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. 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 research note on Monday, September 16th. Finally, Baird R W lowered McDonald’s from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 23rd. 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 data from MarketBeat.com, McDonald’s has an average rating of “Moderate Buy” and an average target price of $319.46.

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.