Sunpointe LLC Trims Holdings in McDonald’s Co. (NYSE:MCD)

Sunpointe LLC decreased its stake in shares of McDonald’s Co. (NYSE:MCD) by 11.1% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 2,165 shares of the fast-food giant’s stock after selling 270 shares during the period. Sunpointe LLC’s holdings in McDonald’s were worth $659,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. Capital Research Global Investors grew its position in McDonald’s by 66.9% during the first quarter. Capital Research Global Investors now owns 5,471,007 shares of the fast-food giant’s stock valued at $1,542,550,000 after acquiring an additional 2,193,769 shares during the last quarter. Swedbank AB purchased a new stake in McDonald’s during the first quarter valued at about $348,206,000. Capital World Investors increased its holdings in shares of McDonald’s by 39.7% in the first quarter. Capital World Investors now owns 3,565,398 shares of the fast-food giant’s stock worth $1,005,264,000 after buying an additional 1,012,534 shares during the period. Mondrian Investment Partners LTD bought a new stake in shares of McDonald’s in the 2nd quarter valued at about $110,321,000. Finally, National Bank of Canada FI grew its position in McDonald’s by 56.2% during the 1st quarter. National Bank of Canada FI now owns 1,123,132 shares of the fast-food giant’s stock worth $308,878,000 after acquiring an additional 403,958 shares during the last quarter. Institutional investors own 70.29% of the company’s stock.

Insider Activity at McDonald’s

In other McDonald’s news, insider Joseph M. Erlinger sold 1,099 shares of McDonald’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $260.00, for a total value of $285,740.00. Following the completion of the transaction, the insider now owns 13,681 shares of the company’s stock, valued at approximately $3,557,060. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Joseph M. Erlinger sold 1,099 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $260.00, for a total transaction of $285,740.00. Following the completion of the sale, the insider now owns 13,681 shares of the company’s stock, valued at $3,557,060. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Christopher J. Kempczinski sold 11,727 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $300.03, for a total value 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 trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,097 shares of company stock worth $10,221,233. 0.23% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

MCD has been the subject of a number of research analyst reports. Guggenheim raised their price target on McDonald’s from $280.00 to $290.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Tigress Financial lifted their target price on shares of McDonald’s from $355.00 to $360.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Argus raised McDonald’s from a “hold” rating to a “buy” rating in a report on Tuesday, October 8th. Jefferies Financial Group raised their target price on shares of McDonald’s from $310.00 to $330.00 and gave the stock a “buy” rating in a report on Monday, September 9th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on shares of McDonald’s from $295.00 to $290.00 and set a “buy” rating for the company in a research note on Tuesday, July 30th. Ten investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat, McDonald’s presently has a consensus rating of “Moderate Buy” and an average price target of $314.92.

McDonald’s Stock Down 0.3 %

Shares of McDonald’s stock traded down $1.04 on Wednesday, reaching $312.30. 213,707 shares of the stock were exchanged, compared to its average volume of 3,353,971. McDonald’s Co. has a twelve month low of $243.53 and a twelve month high of $315.36. The business has a 50 day moving average price of $291.90 and a two-hundred day moving average price of $272.91. The firm has a market capitalization of $225.07 billion, a price-to-earnings ratio of 26.60, a PEG ratio of 4.05 and a beta of 0.73.

McDonald’s (NYSE:MCD) last released its quarterly earnings data on Monday, July 29th. The fast-food giant reported $2.97 EPS for the quarter, missing the consensus estimate of $3.07 by ($0.10). McDonald’s had a net margin of 32.25% and a negative return on equity of 178.68%. The business had revenue of $6.49 billion during the quarter, compared to analysts’ expectations of $6.62 billion. During the same period last year, the company earned $3.17 earnings per share. The firm’s revenue was down .1% on a year-over-year basis. Research analysts forecast that McDonald’s Co. will post 11.71 EPS 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 issued a dividend of $1.77 per share. This represents a $7.08 annualized dividend and a yield of 2.27%. This is a positive change from McDonald’s’s previous quarterly dividend of $1.67. The ex-dividend date is Monday, December 2nd. McDonald’s’s dividend payout ratio (DPR) is 60.10%.

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.