Hartford Investment Management Co. Has $13.71 Million Position in McDonald’s Co. (NYSE:MCD)

Hartford Investment Management Co. trimmed its position in shares of McDonald’s Co. (NYSE:MCD) by 2.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 45,023 shares of the fast-food giant’s stock after selling 1,065 shares during the period. Hartford Investment Management Co.’s holdings in McDonald’s were worth $13,710,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Hantz Financial Services Inc. bought a new position in McDonald’s in the second quarter worth $6,612,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in shares of McDonald’s by 58.9% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 138,102 shares of the fast-food giant’s stock worth $35,194,000 after acquiring an additional 51,210 shares during the period. BNP Paribas acquired a new stake in shares of McDonald’s during the 1st quarter valued at about $7,898,000. First Long Island Investors LLC boosted its position in shares of McDonald’s by 16.6% during the 1st quarter. First Long Island Investors LLC now owns 54,021 shares of the fast-food giant’s stock valued at $15,231,000 after acquiring an additional 7,707 shares in the last quarter. Finally, Aviance Capital Partners LLC increased its stake in McDonald’s by 269.8% in the first quarter. Aviance Capital Partners LLC now owns 11,702 shares of the fast-food giant’s stock valued at $3,299,000 after acquiring an additional 8,538 shares during the period. Institutional investors and hedge funds own 70.29% of the company’s stock.

McDonald’s Stock Down 6.6 %

NYSE MCD traded down $20.64 during trading on Wednesday, reaching $294.05. 4,343,604 shares of the stock traded hands, compared to its average volume of 3,369,306. The stock’s 50-day moving average price is $296.41 and its 200 day moving average price is $274.34. The firm has a market cap of $211.92 billion, a price-to-earnings ratio of 25.10, a price-to-earnings-growth ratio of 4.05 and a beta of 0.73. McDonald’s Co. has a fifty-two week low of $243.53 and a fifty-two week high of $317.90.

McDonald’s (NYSE:MCD) last issued its quarterly earnings data on Monday, July 29th. The fast-food giant reported $2.97 EPS for the quarter, missing the consensus estimate of $3.07 by ($0.10). McDonald’s had a negative return on equity of 178.68% and a net margin of 32.25%. The business had revenue of $6.49 billion for the quarter, compared to analyst estimates of $6.62 billion. During the same period in the previous year, the business posted $3.17 EPS. The business’s quarterly revenue was down .1% compared to the same quarter last year. Analysts anticipate that McDonald’s Co. will post 11.71 EPS for the current fiscal year.

McDonald’s Increases Dividend

The firm 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 $1.77 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This is a positive change from McDonald’s’s previous quarterly dividend of $1.67. This represents a $7.08 annualized dividend and a dividend yield of 2.41%. McDonald’s’s payout ratio is currently 60.10%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on MCD. UBS Group lifted their price objective on McDonald’s from $305.00 to $345.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. The Goldman Sachs Group upped their price target on McDonald’s from $284.00 to $325.00 and gave the company a “neutral” rating in a research report on Tuesday, September 24th. Wedbush reissued an “outperform” rating and set a $295.00 price objective on shares of McDonald’s in a report on Wednesday. TD Cowen reaffirmed a “hold” rating and issued a $300.00 target price on shares of McDonald’s in a report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft cut their price target on shares of McDonald’s from $295.00 to $290.00 and set a “buy” rating for the company in a report on Tuesday, July 30th. Twelve analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $318.22.

Insider Buying and Selling

In other McDonald’s news, CMO Edith Morgan Flatley sold 2,346 shares of McDonald’s stock in a transaction that occurred 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 transaction, the chief marketing officer now owns 2,905 shares of the company’s stock, valued at approximately $900,550. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CMO Edith Morgan Flatley sold 2,346 shares of the business’s stock in a transaction dated Monday, October 14th. The stock was 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 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Christopher J. Kempczinski sold 9,291 shares of the stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $305.00, for a total value of $2,833,755.00. Following the transaction, the chief executive officer now owns 43,256 shares of the company’s stock, valued at approximately $13,193,080. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 32,998 shares of company stock valued at $9,935,493. 0.23% of the stock is owned by corporate 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.