Icon Wealth Advisors LLC Sells 13,777 Shares of McDonald’s Co. (NYSE:MCD)

Icon Wealth Advisors LLC lessened its holdings in McDonald’s Co. (NYSE:MCD) by 90.2% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,499 shares of the fast-food giant’s stock after selling 13,777 shares during the quarter. Icon Wealth Advisors LLC’s holdings in McDonald’s were worth $456,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Hara Capital LLC bought a new position in shares of McDonald’s during the third quarter worth approximately $44,000. Kings Path Partners LLC acquired a new position in McDonald’s in the 2nd quarter valued at $38,000. Peterson Financial Group Inc. bought a new stake in shares of McDonald’s during the 3rd quarter valued at $58,000. Opal Wealth Advisors LLC acquired a new stake in shares of McDonald’s during the 2nd quarter worth $59,000. Finally, Bbjs Financial Advisors LLC bought a new position in shares of McDonald’s in the second quarter worth $65,000. 70.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have issued reports on MCD. Loop Capital reiterated a “buy” rating on shares of McDonald’s in a research note on Friday, October 18th. Wedbush reiterated an “outperform” rating and set a $295.00 price target on shares of McDonald’s in a research report on Wednesday, October 23rd. Guggenheim downgraded shares of McDonald’s from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $290.00 to $285.00 in a research report on Wednesday, October 23rd. Bank of America raised their target price on McDonald’s from $321.00 to $324.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Finally, Argus raised McDonald’s from a “hold” rating to a “buy” rating in a report on Tuesday, October 8th. Thirteen investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $319.46.

McDonald’s Stock Performance

Shares of NYSE MCD opened at $290.28 on Friday. McDonald’s Co. has a 52-week low of $243.53 and a 52-week high of $317.90. The company’s 50 day moving average price is $299.85 and its 200-day moving average price is $278.13. The company has a market capitalization of $208.02 billion, a P/E ratio of 25.49, a price-to-earnings-growth ratio of 3.84 and a beta of 0.74.

McDonald’s (NYSE:MCD) last issued its quarterly 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 175.42%. The business had revenue of $6.87 billion for the quarter, compared to analysts’ expectations of $6.82 billion. During the same quarter in the prior year, the firm posted $3.19 earnings per share. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. Analysts forecast that McDonald’s Co. will post 11.77 earnings per share for the current year.

McDonald’s Increases Dividend

The firm also recently announced 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 is an increase from McDonald’s’s previous quarterly dividend of $1.67. This represents a $7.08 dividend on an annualized basis and a yield of 2.44%. The ex-dividend date of this dividend is Monday, December 2nd. McDonald’s’s payout ratio is presently 62.16%.

Insider Buying and Selling at McDonald’s

In other news, insider Joseph M. Erlinger sold 1,099 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $298.57, for a total transaction of $328,128.43. Following the transaction, the insider now owns 11,484 shares in the company, valued at approximately $3,428,777.88. This represents a 8.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 transaction of $428,967.28. Following the transaction, the executive vice president now directly owns 1,560 shares in the company, valued at $446,721.60. This trade represents a 48.99 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,498 shares of company stock valued at $10,381,296. 0.23% of the stock is currently 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.