McDonald’s Co. (NYSE:MCD) Shares Sold by Groesbeck Investment Management Corp NJ

Groesbeck Investment Management Corp NJ trimmed its holdings in shares of McDonald’s Co. (NYSE:MCD) by 6.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 815 shares of the fast-food giant’s stock after selling 55 shares during the period. Groesbeck Investment Management Corp NJ’s holdings in McDonald’s were worth $248,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Steigerwald Gordon & Koch Inc. lifted its stake in shares of McDonald’s by 2.4% in the 3rd quarter. Steigerwald Gordon & Koch Inc. now owns 1,422 shares of the fast-food giant’s stock valued at $433,000 after purchasing an additional 33 shares during the period. Riversedge Advisors LLC increased its holdings in McDonald’s by 2.0% in the 3rd quarter. Riversedge Advisors LLC now owns 1,686 shares of the fast-food giant’s stock worth $513,000 after acquiring an additional 33 shares in the last quarter. Proquility Private Wealth Partners LLC increased its holdings in McDonald’s by 1.0% in the 3rd quarter. Proquility Private Wealth Partners LLC now owns 3,472 shares of the fast-food giant’s stock worth $1,057,000 after acquiring an additional 35 shares in the last quarter. Founders Financial Alliance LLC increased its holdings in McDonald’s by 0.7% in the 2nd quarter. Founders Financial Alliance LLC now owns 4,980 shares of the fast-food giant’s stock worth $1,269,000 after acquiring an additional 36 shares in the last quarter. Finally, McAdam LLC increased its holdings in McDonald’s by 1.7% in the 3rd quarter. McAdam LLC now owns 2,176 shares of the fast-food giant’s stock worth $663,000 after acquiring an additional 36 shares in the last quarter. 70.29% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. upped their target price on shares of McDonald’s from $270.00 to $290.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. Argus raised shares of McDonald’s from a “hold” rating to a “buy” rating in a research report on Tuesday, October 8th. Robert W. Baird lowered shares of McDonald’s from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $320.00 to $290.00 in a research note on Wednesday. Evercore ISI upped their target price on shares of McDonald’s from $320.00 to $340.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 15th. Finally, Citigroup increased 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. Thirteen investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $318.22.

Insider Activity at McDonald’s

In related news, CEO Christopher J. Kempczinski sold 11,727 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now owns 49,885 shares in the company, valued at approximately $14,966,996.55. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CMO Edith Morgan Flatley sold 2,346 shares of the stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $310.00, for a total transaction of $727,260.00. Following the transaction, the chief marketing officer now owns 2,905 shares in the company, valued at approximately $900,550. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Christopher J. Kempczinski sold 11,727 shares of the 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 transaction, the chief executive officer now owns 49,885 shares in the company, valued at approximately $14,966,996.55. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 34,097 shares of company stock worth $10,256,818. 0.23% of the stock is owned by insiders.

McDonald’s Stock Down 3.0 %

Shares of NYSE MCD traded down $8.97 during mid-day trading on Friday, hitting $292.61. 8,863,234 shares of the company traded hands, compared to its average volume of 3,475,984. 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 $210.88 billion, a price-to-earnings ratio of 24.83, a PEG ratio of 4.13 and a beta of 0.73. The business has a 50 day moving average of $297.78 and a two-hundred day moving average of $274.88.

McDonald’s (NYSE:MCD) last issued its earnings results on Monday, July 29th. The fast-food giant reported $2.97 earnings per share for the quarter, missing the consensus estimate of $3.07 by ($0.10). McDonald’s had a negative return on equity of 178.68% and a net margin of 32.25%. The firm had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.62 billion. During the same period in the previous year, the company earned $3.17 earnings per share. The business’s revenue for the quarter was down .1% on a year-over-year basis. As a group, research analysts anticipate that McDonald’s Co. will post 11.73 EPS for the current year.

McDonald’s Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a dividend of $1.77 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.42%. This is an increase from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s payout ratio is presently 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.