Portside Wealth Group LLC Sells 98 Shares of McDonald’s Co. (NYSE:MCD)

Portside Wealth Group LLC decreased its holdings in McDonald’s Co. (NYSE:MCD) by 1.7% in the third quarter, Holdings Channel reports. The fund owned 5,734 shares of the fast-food giant’s stock after selling 98 shares during the quarter. Portside Wealth Group LLC’s holdings in McDonald’s were worth $1,746,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Western Pacific Wealth Management LP boosted its holdings in shares of McDonald’s by 31.8% in the 3rd quarter. Western Pacific Wealth Management LP now owns 626 shares of the fast-food giant’s stock worth $191,000 after purchasing an additional 151 shares during the period. Hara Capital LLC bought a new stake in McDonald’s in the third quarter worth $44,000. Global Strategic Investment Solutions LLC purchased a new position in McDonald’s during the third quarter worth $201,000. Keudell Morrison Wealth Management bought a new position in McDonald’s during the third quarter valued at $209,000. Finally, Washington Trust Bank raised its stake in shares of McDonald’s by 2.2% in the third quarter. Washington Trust Bank now owns 4,267 shares of the fast-food giant’s stock valued at $1,299,000 after acquiring an additional 92 shares during the period. Hedge funds and other institutional investors own 70.29% of the company’s stock.

McDonald’s Stock Performance

Shares of McDonald’s stock opened at $294.68 on Friday. McDonald’s Co. has a one year low of $243.53 and a one year high of $317.90. The company has a market capitalization of $211.39 billion, a PE ratio of 25.87, a P/E/G ratio of 3.89 and a beta of 0.74. The company has a 50-day simple moving average of $298.74 and a two-hundred day simple moving average of $276.35.

McDonald’s (NYSE:MCD) last posted its earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 EPS for the quarter, beating 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 178.99%. The company had revenue of $6.87 billion during the quarter, compared to analysts’ expectations of $6.82 billion. During the same quarter in the prior year, the company posted $3.19 earnings per share. McDonald’s’s revenue for the quarter was up 2.7% compared to the same quarter last year. On average, equities analysts predict that McDonald’s Co. will post 11.77 earnings per share 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. Stockholders of record on Monday, December 2nd will be given a $1.77 dividend. This is a boost from McDonald’s’s previous quarterly dividend of $1.67. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.40%. McDonald’s’s dividend payout ratio (DPR) is presently 62.16%.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Morgan Stanley upped their price target 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. Robert W. Baird cut McDonald’s from an “outperform” rating to a “neutral” rating and cut their target price for the company from $320.00 to $290.00 in a research note on Wednesday, October 23rd. BMO Capital Markets raised their price target on McDonald’s from $315.00 to $335.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Tigress Financial upped their price objective on McDonald’s from $355.00 to $360.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Finally, Stifel Nicolaus decreased their target price on McDonald’s from $285.00 to $265.00 and set a “hold” rating for the company in a research report on Monday, July 22nd. Thirteen research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, McDonald’s presently has an average rating of “Moderate Buy” and an average target price of $319.46.

Insider Buying and Selling

In other McDonald’s news, EVP Marion K. Gross sold 1,498 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $286.36, for a total value of $428,967.28. Following the completion of the sale, the executive vice president now directly owns 1,560 shares in the company, valued at approximately $446,721.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other McDonald’s news, CEO Christopher J. Kempczinski sold 11,727 shares of the firm’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $300.03, for a total value of $3,518,451.81. Following the completion of the transaction, the chief executive officer now owns 49,885 shares of the company’s stock, valued at approximately $14,966,996.55. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Marion K. Gross sold 1,498 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $286.36, for a total transaction of $428,967.28. Following the sale, the executive vice president now directly owns 1,560 shares in the company, valued at $446,721.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 35,596 shares of company stock worth $10,698,289 in the last ninety days. 0.23% of the stock is owned by 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.