McDonald’s Co. (NYSE:MCD) Shares Sold by Apollon Wealth Management LLC

Apollon Wealth Management LLC lessened its holdings in shares of McDonald’s Co. (NYSE:MCD) by 2.9% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 27,417 shares of the fast-food giant’s stock after selling 827 shares during the quarter. Apollon Wealth Management LLC’s holdings in McDonald’s were worth $8,349,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. Quent Capital LLC boosted its position in McDonald’s by 10.4% during the 1st quarter. Quent Capital LLC now owns 3,006 shares of the fast-food giant’s stock worth $848,000 after acquiring an additional 282 shares during the period. Koshinski Asset Management Inc. raised its position in McDonald’s by 77.0% during the first quarter. Koshinski Asset Management Inc. now owns 8,249 shares of the fast-food giant’s stock valued at $2,326,000 after buying an additional 3,589 shares during the period. Rogco LP increased its position in McDonald’s by 10.9% in the 1st quarter. Rogco LP now owns 5,044 shares of the fast-food giant’s stock worth $1,422,000 after purchasing an additional 497 shares during the last quarter. Hudson Value Partners LLC boosted its stake in shares of McDonald’s by 47.4% during the 1st quarter. Hudson Value Partners LLC now owns 12,899 shares of the fast-food giant’s stock worth $3,637,000 after acquiring an additional 4,149 shares in the last quarter. Finally, Eagle Bay Advisors LLC boosted its stake in shares of McDonald’s by 27.7% during the 1st quarter. Eagle Bay Advisors LLC now owns 1,795 shares of the fast-food giant’s stock worth $506,000 after acquiring an additional 389 shares in the last quarter. Institutional investors and hedge funds own 70.29% of the company’s stock.

McDonald’s Stock Performance

Shares of NYSE:MCD opened at $301.53 on Tuesday. The company has a fifty day moving average of $299.08 and a 200-day moving average of $276.64. The company has a market capitalization of $216.30 billion, a PE ratio of 26.47, a price-to-earnings-growth ratio of 3.98 and a beta of 0.74. McDonald’s Co. has a 52-week low of $243.53 and a 52-week high of $317.90.

McDonald’s (NYSE:MCD) last posted its quarterly earnings data on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share for the quarter, beating analysts’ consensus estimates of $3.18 by $0.05. The business 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 178.99% and a net margin of 31.79%. McDonald’s’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the business posted $3.19 earnings per share. On average, equities analysts forecast that McDonald’s Co. will post 11.77 EPS for the current fiscal 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 $1.77 dividend. This represents a $7.08 dividend on an annualized basis and a yield of 2.35%. This is an increase from McDonald’s’s previous quarterly dividend of $1.67. The ex-dividend date is Monday, December 2nd. McDonald’s’s dividend payout ratio is presently 58.65%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on MCD. Citigroup raised their price objective on McDonald’s from $301.00 to $317.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Baird R W downgraded McDonald’s from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. Argus upgraded McDonald’s from a “hold” rating to a “buy” rating in a research report on Tuesday, October 8th. JPMorgan Chase & Co. increased their target price on McDonald’s from $270.00 to $290.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. Finally, Robert W. Baird cut McDonald’s from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $320.00 to $290.00 in a report on Wednesday, October 23rd. Thirteen analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, McDonald’s has an average rating of “Moderate Buy” and a consensus target price of $319.46.

Insider Activity at McDonald’s

In other McDonald’s news, CEO Christopher J. Kempczinski sold 11,727 shares of the company’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 sale, the chief executive officer now owns 49,885 shares of the company’s stock, valued at approximately $14,966,996.55. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, insider Joseph M. Erlinger sold 1,098 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $288.70, for a total value of $316,992.60. Following the transaction, the insider now owns 12,583 shares of the company’s stock, valued at approximately $3,632,712.10. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Christopher J. Kempczinski sold 11,727 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 49,885 shares in the company, valued at approximately $14,966,996.55. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 35,596 shares of company stock worth $10,698,289 over the last three months. Company insiders own 0.23% of the company’s stock.

McDonald’s 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.