Asset Management Group Inc. Sells 234 Shares of McDonald’s Co. (NYSE:MCD)

Asset Management Group Inc. cut its stake in McDonald’s Co. (NYSE:MCD) by 22.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 819 shares of the fast-food giant’s stock after selling 234 shares during the period. Asset Management Group Inc.’s holdings in McDonald’s were worth $249,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Biltmore Family Office LLC lifted its stake in McDonald’s by 17.6% in the third quarter. Biltmore Family Office LLC now owns 3,199 shares of the fast-food giant’s stock valued at $974,000 after buying an additional 478 shares during the period. AlphaCore Capital LLC lifted its stake in McDonald’s by 6.7% in the third quarter. AlphaCore Capital LLC now owns 5,563 shares of the fast-food giant’s stock valued at $1,694,000 after buying an additional 348 shares during the period. First County Bank CT lifted its stake in McDonald’s by 2.5% in the third quarter. First County Bank CT now owns 4,633 shares of the fast-food giant’s stock valued at $1,411,000 after buying an additional 111 shares during the period. Concorde Asset Management LLC lifted its stake in McDonald’s by 28.3% in the third quarter. Concorde Asset Management LLC now owns 1,570 shares of the fast-food giant’s stock valued at $478,000 after buying an additional 346 shares during the period. Finally, 49 Wealth Management LLC acquired a new position in McDonald’s in the third quarter valued at approximately $305,000. 70.29% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have issued reports on MCD shares. Jefferies Financial Group boosted their price target on McDonald’s from $310.00 to $330.00 and gave the company a “buy” rating in a research note on Monday, September 9th. Baird R W lowered McDonald’s from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Guggenheim lowered McDonald’s from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $290.00 to $285.00 in a research report on Wednesday, October 23rd. Citigroup upped their target price on McDonald’s from $301.00 to $317.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Finally, Evercore ISI upped their target price on McDonald’s from $320.00 to $340.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 15th. Thirteen equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $319.46.

McDonald’s Stock Performance

MCD stock opened at $288.32 on Friday. The company has a market capitalization of $206.61 billion, a price-to-earnings ratio of 25.31, a PEG ratio of 3.87 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 stock has a fifty day moving average of $299.98 and a 200-day moving average of $277.91.

McDonald’s (NYSE:MCD) last posted its quarterly earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share for the quarter, topping the consensus estimate of $3.18 by $0.05. The company had revenue of $6.87 billion during the quarter, compared to the consensus estimate of $6.82 billion. McDonald’s had a negative return on equity of 175.42% and a net margin of 31.79%. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.19 EPS. Equities analysts predict that McDonald’s Co. will post 11.77 EPS for the current year.

McDonald’s Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a dividend of $1.77 per share. 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 yield of 2.46%. McDonald’s’s dividend payout ratio is 58.65%.

Insider Buying and Selling

In related news, insider Joseph M. Erlinger sold 1,099 shares of the stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $298.57, for a total transaction of $328,128.43. Following the sale, the insider now owns 11,484 shares of the company’s stock, valued at approximately $3,428,777.88. This represents a 8.73 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Marion K. Gross sold 1,499 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $294.51, for a total value of $441,470.49. Following the completion of the sale, the executive vice president now directly owns 1,560 shares in the company, valued at approximately $459,435.60. The trade was a 49.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 34,498 shares of company stock valued at $10,381,296. Corporate insiders own 0.23% of the company’s stock.

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.