First Long Island Investors LLC Sells 532 Shares of McDonald’s Co. (NYSE:MCD)

First Long Island Investors LLC lessened its stake in shares of McDonald’s Co. (NYSE:MCD) by 1.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 53,059 shares of the fast-food giant’s stock after selling 532 shares during the quarter. First Long Island Investors LLC’s holdings in McDonald’s were worth $16,157,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Legal & General Group Plc increased its position in shares of McDonald’s by 3.2% during the 2nd quarter. Legal & General Group Plc now owns 6,149,080 shares of the fast-food giant’s stock valued at $1,567,030,000 after purchasing an additional 188,888 shares during the last quarter. Capital Research Global Investors raised its position in McDonald’s by 66.9% in the first quarter. Capital Research Global Investors now owns 5,471,007 shares of the fast-food giant’s stock worth $1,542,550,000 after acquiring an additional 2,193,769 shares during the period. Ameriprise Financial Inc. boosted its stake in shares of McDonald’s by 8.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 4,761,625 shares of the fast-food giant’s stock worth $1,216,677,000 after acquiring an additional 354,196 shares during the last quarter. Capital World Investors boosted its stake in shares of McDonald’s by 39.7% during the 1st quarter. Capital World Investors now owns 3,565,398 shares of the fast-food giant’s stock worth $1,005,264,000 after acquiring an additional 1,012,534 shares during the last quarter. Finally, International Assets Investment Management LLC grew its position in shares of McDonald’s by 31,151.1% during the 3rd quarter. International Assets Investment Management LLC now owns 2,319,142 shares of the fast-food giant’s stock valued at $706,202,000 after acquiring an additional 2,311,721 shares during the period. 70.29% of the stock is currently owned by institutional investors.

McDonald’s Trading Down 1.1 %

Shares of McDonald’s stock traded down $3.24 during trading hours on Friday, hitting $295.32. 815,449 shares of the company were exchanged, compared to its average volume of 3,494,947. The business has a 50-day moving average of $300.00 and a 200-day moving average of $277.29. McDonald’s Co. has a 1 year low of $243.53 and a 1 year high of $317.90. The stock has a market capitalization of $211.63 billion, a price-to-earnings ratio of 26.23, a P/E/G ratio of 3.95 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 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $6.82 billion. During the same period in the previous year, the business posted $3.19 earnings per share. The business’s revenue was up 2.7% compared to the same quarter last year. As a group, research analysts anticipate that McDonald’s Co. will post 11.77 earnings per share for the current fiscal year.

McDonald’s Increases Dividend

The firm also recently disclosed 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. This is a boost 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 yield of 2.40%. McDonald’s’s dividend payout ratio is presently 58.65%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on MCD shares. Guggenheim downgraded McDonald’s from a “buy” rating to a “neutral” rating and lowered their target price for the company from $290.00 to $285.00 in a research report on Wednesday, October 23rd. Evercore ISI lifted their price objective on McDonald’s from $320.00 to $340.00 and gave the company an “outperform” rating in a research report on Tuesday, October 15th. TD Cowen reissued a “hold” rating and issued a $300.00 target price on shares of McDonald’s in a report on Tuesday, October 29th. UBS Group raised their target price on shares of McDonald’s from $305.00 to $345.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target 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. Thirteen investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, McDonald’s has a consensus rating of “Moderate Buy” and an average price target of $319.46.

Insider Activity at McDonald’s

In other McDonald’s news, insider Joseph M. Erlinger sold 1,098 shares of McDonald’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $288.70, for a total transaction of $316,992.60. Following the completion of the transaction, the insider now owns 12,583 shares in the company, valued at approximately $3,632,712.10. The trade was a 8.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Marion K. Gross sold 1,498 shares of the stock in a transaction 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 sale, the executive vice president now owns 1,560 shares in the company, valued at approximately $446,721.60. This trade represents a 48.99 % 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 90 days. 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.