Frisch Financial Group Inc. Sells 1,348 Shares of McDonald’s Co. (NYSE:MCD)

Frisch Financial Group Inc. lessened its stake in shares of McDonald’s Co. (NYSE:MCD) by 28.2% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,432 shares of the fast-food giant’s stock after selling 1,348 shares during the period. Frisch Financial Group Inc.’s holdings in McDonald’s were worth $1,045,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Legacy Investment Solutions LLC purchased a new stake in McDonald’s during the third quarter valued at $25,000. RPg Family Wealth Advisory LLC purchased a new position in McDonald’s in the third quarter worth about $31,000. Kings Path Partners LLC bought a new stake in McDonald’s during the second quarter worth approximately $38,000. Hara Capital LLC bought a new stake in McDonald’s during the third quarter worth approximately $44,000. Finally, Peterson Financial Group Inc. bought a new stake in McDonald’s during the third quarter worth approximately $58,000. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on MCD. Barclays boosted their target price on McDonald’s from $300.00 to $325.00 and gave the company an “overweight” rating in a research report on Tuesday, October 22nd. TD Cowen reiterated a “hold” rating and set a $300.00 price objective on shares of McDonald’s in a research report on Tuesday, October 29th. BMO Capital Markets increased their price objective on shares of McDonald’s from $315.00 to $335.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Morgan Stanley increased their price target on McDonald’s from $296.00 to $340.00 and gave the stock an “overweight” rating in a report on Tuesday, October 15th. Finally, KeyCorp boosted their price objective on shares of McDonald’s from $305.00 to $330.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Thirteen research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $319.64.

Insider Transactions at McDonald’s

In other news, CEO Christopher J. Kempczinski sold 11,727 shares of McDonald’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $300.03, for a total transaction of $3,518,451.81. Following the completion of the sale, the chief executive officer now directly owns 49,885 shares in the company, valued at approximately $14,966,996.55. The trade was a 19.03 % 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, CFO Ian Frederick Borden sold 5,939 shares of the company’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $300.04, for a total value of $1,781,937.56. Following the completion of the transaction, the chief financial officer now directly owns 20,403 shares in the company, valued at approximately $6,121,716.12. The trade was a 22.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 34,099 shares of company stock worth $10,273,786. Insiders own 0.23% of the company’s stock.

McDonald’s Stock Up 0.8 %

NYSE:MCD opened at $301.47 on Tuesday. The stock has a market capitalization of $216.04 billion, a price-to-earnings ratio of 26.47, a PEG ratio of 3.98 and a beta of 0.73. McDonald’s Co. has a 52 week low of $243.53 and a 52 week high of $317.90. The firm has a 50 day moving average of $299.37 and a 200 day moving average of $280.30.

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

McDonald’s Increases Dividend

The firm 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 annualized dividend and a yield of 2.35%. The ex-dividend date of this dividend is Monday, December 2nd. This is an increase from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s dividend payout ratio (DPR) is currently 62.16%.

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.