Lane & Associates LLC Sells 99 Shares of McDonald’s Co. (NYSE:MCD)

Lane & Associates LLC lowered its holdings in shares of McDonald’s Co. (NYSE:MCD) by 9.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 924 shares of the fast-food giant’s stock after selling 99 shares during the period. Lane & Associates LLC’s holdings in McDonald’s were worth $281,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Kings Path Partners LLC bought a new stake in McDonald’s during the second quarter worth about $38,000. Hara Capital LLC purchased a new position in McDonald’s in the third quarter worth about $44,000. Peterson Financial Group Inc. purchased a new position in McDonald’s in the third quarter worth about $58,000. Opal Wealth Advisors LLC purchased a new position in McDonald’s in the second quarter worth about $59,000. Finally, Bbjs Financial Advisors LLC purchased a new position in McDonald’s in the second quarter worth about $65,000. Institutional investors own 70.29% of the company’s stock.

McDonald’s Price Performance

MCD opened at $290.28 on Friday. The firm has a market cap of $208.02 billion, a P/E ratio of 25.49, a PEG ratio of 3.84 and a beta of 0.74. McDonald’s Co. has a 1-year low of $243.53 and a 1-year high of $317.90. The company has a 50 day simple moving average of $299.85 and a two-hundred day simple moving average of $278.13.

McDonald’s (NYSE:MCD) last posted its quarterly earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share for the quarter, topping analysts’ consensus estimates of $3.18 by $0.05. The business had revenue of $6.87 billion during the quarter, compared to analyst estimates of $6.82 billion. McDonald’s had a net margin of 31.79% and a negative return on equity of 175.42%. The company’s 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. Equities analysts anticipate that McDonald’s Co. will post 11.77 earnings per share for the current year.

McDonald’s Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a dividend of $1.77 per share. This is a positive change from McDonald’s’s previous quarterly dividend of $1.67. The ex-dividend date is Monday, December 2nd. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.44%. McDonald’s’s dividend payout ratio is currently 62.16%.

Insider Buying and Selling

In related news, EVP Marion K. Gross sold 1,498 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $286.36, for a total transaction of $428,967.28. Following the completion of the transaction, the executive vice president now owns 1,560 shares in the company, valued at approximately $446,721.60. This represents a 48.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Christopher J. Kempczinski sold 11,727 shares of the company’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $300.03, for a total transaction of $3,518,451.81. Following the transaction, the chief executive officer now owns 49,885 shares of the company’s stock, valued at approximately $14,966,996.55. This represents a 19.03 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 34,498 shares of company stock worth $10,381,296. 0.23% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on MCD shares. Argus raised shares of McDonald’s from a “hold” rating to a “buy” rating in a report on Tuesday, October 8th. TD Cowen reaffirmed a “hold” rating and issued a $300.00 target price on shares of McDonald’s in a report on Tuesday, October 29th. BMO Capital Markets lifted their target price on shares of McDonald’s from $315.00 to $335.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of McDonald’s from $295.00 to $290.00 and set a “buy” rating for the company in a report on Tuesday, July 30th. Finally, Evercore ISI boosted their price objective on shares of McDonald’s from $320.00 to $340.00 and gave the company an “outperform” rating in a report on Tuesday, October 15th. Thirteen research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat, McDonald’s has an average rating of “Moderate Buy” and an average target price of $319.46.

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.