Lederer & Associates Investment Counsel CA Sells 285 Shares of McDonald’s Co. (NYSE:MCD)

Lederer & Associates Investment Counsel CA lessened its stake in shares of McDonald’s Co. (NYSE:MCD) by 3.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,975 shares of the fast-food giant’s stock after selling 285 shares during the quarter. McDonald’s comprises 1.5% of Lederer & Associates Investment Counsel CA’s investment portfolio, making the stock its 20th biggest holding. Lederer & Associates Investment Counsel CA’s holdings in McDonald’s were worth $2,124,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently made changes to their positions in MCD. Salomon & Ludwin LLC grew its stake in McDonald’s by 1.1% in the third quarter. Salomon & Ludwin LLC now owns 10,427 shares of the fast-food giant’s stock valued at $3,175,000 after acquiring an additional 112 shares during the period. First Financial Bankshares Inc lifted its holdings in shares of McDonald’s by 11.7% in the 3rd quarter. First Financial Bankshares Inc now owns 313,961 shares of the fast-food giant’s stock worth $95,604,000 after purchasing an additional 32,890 shares in the last quarter. Custom Index Systems LLC acquired a new stake in McDonald’s in the 3rd quarter valued at $309,000. Motiv8 Investments LLC increased its stake in McDonald’s by 23.3% during the 3rd quarter. Motiv8 Investments LLC now owns 3,217 shares of the fast-food giant’s stock valued at $980,000 after purchasing an additional 608 shares in the last quarter. Finally, J.W. Cole Advisors Inc. raised its holdings in McDonald’s by 7.9% during the third quarter. J.W. Cole Advisors Inc. now owns 25,450 shares of the fast-food giant’s stock worth $7,750,000 after buying an additional 1,853 shares during the last quarter. 70.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on MCD. Morgan Stanley lifted their price objective on shares of McDonald’s from $296.00 to $340.00 and gave the company an “overweight” rating in a report on Tuesday, October 15th. TD Cowen reiterated a “hold” rating and set a $300.00 price target on shares of McDonald’s in a research note on Wednesday, October 23rd. Jefferies Financial Group boosted their price objective on McDonald’s from $310.00 to $330.00 and gave the stock a “buy” rating in a report on Monday, September 9th. Evercore ISI raised their target price on McDonald’s from $320.00 to $340.00 and gave the company an “outperform” rating in a report on Tuesday, October 15th. Finally, 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 report on Monday, September 16th. Thirteen analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $318.22.

McDonald’s Stock Performance

Shares of McDonald’s stock opened at $298.50 on Monday. The stock has a market capitalization of $215.12 billion, a P/E ratio of 24.84, a P/E/G ratio of 4.13 and a beta of 0.73. McDonald’s Co. has a 52-week low of $243.53 and a 52-week high of $317.90. The stock’s 50-day simple moving average is $297.78 and its 200 day simple moving average is $274.96.

McDonald’s (NYSE:MCD) last posted its quarterly earnings results on Monday, July 29th. The fast-food giant reported $2.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.07 by ($0.10). McDonald’s had a net margin of 32.25% and a negative return on equity of 178.68%. The business had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $6.62 billion. During the same period last year, the firm earned $3.17 EPS. The business’s revenue for the quarter was down .1% on a year-over-year basis. Equities research analysts forecast that McDonald’s Co. will post 11.73 EPS for the current fiscal year.

McDonald’s Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a $1.77 dividend. This is a positive change from McDonald’s’s previous quarterly dividend of $1.67. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date is Monday, December 2nd. McDonald’s’s dividend payout ratio (DPR) is presently 60.10%.

Insider Activity

In related news, insider Joseph M. Erlinger sold 1,098 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $288.70, for a total transaction of $316,992.60. Following the sale, the insider now owns 12,583 shares of the company’s stock, valued at approximately $3,632,712.10. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, insider Joseph M. Erlinger sold 1,098 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $288.70, for a total transaction of $316,992.60. Following the sale, the insider now owns 12,583 shares of the company’s stock, valued at approximately $3,632,712.10. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Joseph M. Erlinger sold 1,099 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was 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 in the company, valued at $3,428,777.88. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 34,097 shares of company stock worth $10,256,818. 0.23% of the stock is owned by corporate insiders.

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.