McDonald’s Co. (NYSE:MCD) Shares Sold by Amalgamated Bank

Amalgamated Bank lessened its position in shares of McDonald’s Co. (NYSE:MCD) by 2.3% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 142,655 shares of the fast-food giant’s stock after selling 3,371 shares during the quarter. Amalgamated Bank’s holdings in McDonald’s were worth $43,440,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Legal & General Group Plc raised its stake in shares of McDonald’s by 3.2% during 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 during the last quarter. Capital Research Global Investors raised 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 buying an additional 2,193,769 shares during the last quarter. Ameriprise Financial Inc. raised 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 buying an additional 354,196 shares during the last quarter. Capital World Investors raised 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 buying an additional 1,012,534 shares during the last quarter. Finally, International Assets Investment Management LLC raised its stake in McDonald’s by 31,151.1% in the 3rd 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 purchasing an additional 2,311,721 shares during the last quarter. Institutional investors and hedge funds own 70.29% of the company’s stock.

Wall Street Analysts Forecast Growth

MCD has been the subject of several analyst reports. TD Cowen reissued a “hold” rating and issued a $300.00 target price on shares of McDonald’s in a research note on Tuesday, October 29th. The Goldman Sachs Group boosted their target price on shares of McDonald’s from $284.00 to $325.00 and gave the company a “neutral” rating in a research note on Tuesday, September 24th. Jefferies Financial Group boosted their target price on shares of McDonald’s from $310.00 to $330.00 and gave the company a “buy” rating in a research note on Monday, September 9th. Argus raised shares of McDonald’s from a “hold” rating to a “buy” rating in a research note on Tuesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on shares of McDonald’s from $295.00 to $290.00 and set a “buy” rating for the company in a research note on Tuesday, July 30th. Thirteen equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, McDonald’s currently has a consensus rating of “Moderate Buy” and a consensus target price of $319.46.

McDonald’s Stock Down 0.8 %

NYSE MCD opened at $292.85 on Tuesday. The stock has a market cap of $210.07 billion, a PE ratio of 25.71, a P/E/G ratio of 3.92 and a beta of 0.74. McDonald’s Co. has a fifty-two week low of $243.53 and a fifty-two week high of $317.90. The business has a 50 day moving average price of $298.45 and a two-hundred day moving average price of $276.05.

McDonald’s (NYSE:MCD) last released its quarterly 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 analysts’ expectations of $6.82 billion. McDonald’s had a negative return on equity of 178.99% and a net margin of 31.79%. McDonald’s’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.19 EPS. Sell-side analysts anticipate that McDonald’s Co. will post 11.77 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. Shareholders of record on Monday, December 2nd will be issued a $1.77 dividend. This represents a $7.08 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date of this dividend is Monday, December 2nd. This is a boost from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s dividend payout ratio is currently 58.65%.

Insiders Place Their Bets

In other McDonald’s news, insider Joseph M. Erlinger sold 1,099 shares of the company’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $292.38, for a total value of $321,325.62. Following the transaction, the insider now directly owns 10,385 shares of the company’s stock, valued at $3,036,366.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider Joseph M. Erlinger sold 1,099 shares of the stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $292.38, for a total transaction of $321,325.62. Following the completion of the transaction, the insider now directly owns 10,385 shares in the company, valued at approximately $3,036,366.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Joseph M. Erlinger sold 1,098 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $288.70, for a total value of $316,992.60. Following the transaction, the insider now owns 12,583 shares of the company’s stock, valued at approximately $3,632,712.10. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 34,097 shares of company stock worth $10,256,818 in the last 90 days. 0.23% of the stock is owned by company insiders.

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.