McDonald’s Co. (NYSE:MCD) Shares Sold by Fmr LLC

Fmr LLC reduced its stake in shares of McDonald’s Co. (NYSE:MCD) by 1.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,385,322 shares of the fast-food giant’s stock after selling 81,756 shares during the period. Fmr LLC owned approximately 0.61% of McDonald’s worth $1,335,375,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Quent Capital LLC raised its holdings in shares of McDonald’s by 10.4% during the first quarter. Quent Capital LLC now owns 3,006 shares of the fast-food giant’s stock worth $848,000 after purchasing an additional 282 shares during the last quarter. Bayesian Capital Management LP increased its holdings in McDonald’s by 109.0% in the first quarter. Bayesian Capital Management LP now owns 1,549 shares of the fast-food giant’s stock valued at $437,000 after buying an additional 808 shares in the last quarter. iA Global Asset Management Inc. purchased a new position in McDonald’s in the first quarter valued at $729,000. New Covenant Trust Company N.A. purchased a new stake in shares of McDonald’s during the first quarter worth about $239,000. Finally, Strategic Wealth Partners Ltd. increased its stake in shares of McDonald’s by 5.4% during the first quarter. Strategic Wealth Partners Ltd. now owns 2,003 shares of the fast-food giant’s stock worth $565,000 after purchasing an additional 102 shares in the last quarter. 70.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Robert W. Baird cut shares of McDonald’s from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $320.00 to $290.00 in a research note on Wednesday, October 23rd. Wedbush reissued an “outperform” rating and issued a $295.00 price target on shares of McDonald’s in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of McDonald’s from $295.00 to $290.00 and set a “buy” rating for the company in a research report on Tuesday, July 30th. Morgan Stanley increased their target price on shares of McDonald’s from $296.00 to $340.00 and gave the stock an “overweight” rating in a report on Tuesday, October 15th. Finally, Loop Capital reiterated a “buy” rating on shares of McDonald’s in a report on Friday, October 18th. Thirteen investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat, McDonald’s presently has an average rating of “Moderate Buy” and a consensus price target of $319.46.

McDonald’s Stock Performance

Shares of McDonald’s stock opened at $296.31 on Wednesday. McDonald’s Co. has a 1 year low of $243.53 and a 1 year high of $317.90. The company has a market capitalization of $212.34 billion, a P/E ratio of 26.01, a PEG ratio of 3.94 and a beta of 0.74. The company’s fifty day moving average is $299.90 and its two-hundred day moving average is $278.55.

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

McDonald’s Increases Dividend

The company also recently announced 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 an increase 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 annualized dividend and a dividend yield of 2.39%. McDonald’s’s payout ratio is presently 58.65%.

Insider Activity

In other news, EVP Marion K. Gross sold 1,498 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $286.36, for a total value of $428,967.28. Following the completion of the transaction, the executive vice president now owns 1,560 shares of the company’s stock, valued at $446,721.60. The trade was a 48.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Joseph M. Erlinger sold 1,099 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The shares were 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 of the company’s stock, valued at approximately $3,428,777.88. The trade was a 8.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 35,597 shares of company stock valued at $10,702,754 over the last quarter. Corporate insiders own 0.23% of the company’s stock.

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.