Transform Wealth LLC lessened its holdings in McDonald's Co. (NYSE:MCD - Free Report) by 81.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 874 shares of the fast-food giant's stock after selling 3,861 shares during the quarter. Transform Wealth LLC's holdings in McDonald's were worth $266,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of MCD. Perpetual Ltd bought a new position in shares of McDonald's in the 1st quarter valued at about $237,000. Walker Asset Management LLC increased its position in McDonald's by 4.7% during the first quarter. Walker Asset Management LLC now owns 1,053 shares of the fast-food giant's stock worth $297,000 after buying an additional 47 shares during the last quarter. Wedmont Private Capital raised its stake in McDonald's by 6.5% in the first quarter. Wedmont Private Capital now owns 5,818 shares of the fast-food giant's stock valued at $1,567,000 after buying an additional 353 shares during the period. First National Bank of Mount Dora Trust Investment Services lifted its position in shares of McDonald's by 2.7% in the first quarter. First National Bank of Mount Dora Trust Investment Services now owns 11,322 shares of the fast-food giant's stock valued at $3,192,000 after buying an additional 297 shares during the last quarter. Finally, Lantz Financial LLC boosted its stake in shares of McDonald's by 2.9% during the 1st quarter. Lantz Financial LLC now owns 5,072 shares of the fast-food giant's stock worth $1,430,000 after acquiring an additional 141 shares during the period. 70.29% of the stock is currently owned by institutional investors and hedge funds.
MCD has been the subject of several research reports. The Goldman Sachs Group raised their price target on McDonald's from $284.00 to $325.00 and gave the company a "neutral" rating in a report on Tuesday, September 24th. Stifel Nicolaus cut their target price on shares of McDonald's from $285.00 to $265.00 and set a "hold" rating for the company in a research note on Monday, July 22nd. Citigroup upped their price target on shares of McDonald's from $301.00 to $317.00 and gave the company a "neutral" rating in a research note on Wednesday, October 2nd. Barclays cut their price objective on shares of McDonald's from $320.00 to $300.00 and set an "overweight" rating for the company in a research report on Tuesday, July 30th. Finally, Morgan Stanley upped their target price on McDonald's from $296.00 to $340.00 and gave the company an "overweight" rating in a research report on Tuesday. Ten equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat, McDonald's presently has an average rating of "Moderate Buy" and an average target price of $315.69.
Read Our Latest Report on MCD
In other news, CMO Edith Morgan Flatley sold 2,346 shares of the stock in a transaction on Monday, October 14th. The stock was sold at an average price of $310.00, for a total value of $727,260.00. Following the completion of the transaction, the chief marketing officer now directly owns 2,905 shares in the company, valued at approximately $900,550. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other McDonald's news, CEO Christopher J. Kempczinski sold 11,727 shares of the business's stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 49,885 shares of the company's stock, valued at $14,966,996.55. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CMO Edith Morgan Flatley sold 2,346 shares of the firm's stock in a transaction on Monday, October 14th. The shares were sold at an average price of $310.00, for a total transaction of $727,260.00. Following the transaction, the chief marketing officer now directly owns 2,905 shares of the company's stock, valued at $900,550. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 34,097 shares of company stock valued at $10,221,233. 0.23% of the stock is currently owned by insiders.
Shares of MCD stock opened at $312.93 on Thursday. The business has a fifty day simple moving average of $292.77 and a 200 day simple moving average of $273.19. The company has a market cap of $225.52 billion, a P/E ratio of 26.56, a P/E/G ratio of 4.05 and a beta of 0.73. McDonald's Co. has a twelve month low of $243.53 and a twelve month high of $315.36.
McDonald's (NYSE:MCD - Get Free Report) last posted its earnings results on Monday, July 29th. The fast-food giant reported $2.97 EPS for the quarter, missing analysts' consensus estimates of $3.07 by ($0.10). The company had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $6.62 billion. McDonald's had a negative return on equity of 178.68% and a net margin of 32.25%. The firm's revenue was down .1% compared to the same quarter last year. During the same period last year, the company posted $3.17 EPS. As a group, equities research analysts anticipate that McDonald's Co. will post 11.71 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a $1.77 dividend. The ex-dividend date is Monday, December 2nd. This represents a $7.08 dividend on an annualized basis and a yield of 2.26%. This is a positive change from McDonald's's previous quarterly dividend of $1.67. McDonald's's dividend payout ratio (DPR) is currently 60.10%.
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider McDonald's, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and McDonald's wasn't on the list.
While McDonald's currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.