Spinnaker Trust Trims Stake in McDonald’s Co. (NYSE:MCD)

Spinnaker Trust lowered its holdings in McDonald’s Co. (NYSE:MCD) by 5.0% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,824 shares of the fast-food giant’s stock after selling 727 shares during the period. Spinnaker Trust’s holdings in McDonald’s were worth $4,210,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. International Assets Investment Management LLC lifted its stake in McDonald’s by 31,151.1% during the third quarter. International Assets Investment Management LLC now owns 2,319,142 shares of the fast-food giant’s stock worth $706,202,000 after purchasing an additional 2,311,721 shares during the last quarter. 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 position in shares of McDonald’s during the first quarter worth approximately $348,206,000. Capital World Investors lifted its holdings in shares of McDonald’s by 39.7% in 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, Mondrian Investment Partners LTD bought a new position in shares of McDonald’s during the 2nd quarter valued at $110,321,000. Institutional investors own 70.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on MCD shares. Baird R W lowered shares of McDonald’s from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. Evercore ISI raised their target price on shares of McDonald’s from $320.00 to $340.00 and gave the company an “outperform” rating in a research note on Tuesday, October 15th. Barclays boosted their price target on McDonald’s from $300.00 to $325.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 22nd. Wedbush reiterated an “outperform” rating and set a $295.00 price objective on shares of McDonald’s in a research note on Wednesday, October 23rd. Finally, Loop Capital reaffirmed a “buy” rating on shares of McDonald’s in a research report on Friday, October 18th. Thirteen research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $319.46.

Insider Activity at McDonald’s

In other news, insider Joseph M. Erlinger sold 1,098 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $288.70, for a total transaction of $316,992.60. Following the sale, the insider now directly owns 12,583 shares of the company’s stock, valued at $3,632,712.10. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other McDonald’s news, insider Joseph M. Erlinger sold 1,098 shares of McDonald’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $288.70, for a total value of $316,992.60. Following the completion of the transaction, the insider now directly owns 12,583 shares of the company’s stock, valued at $3,632,712.10. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CMO Edith Morgan Flatley sold 2,346 shares of the stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $310.00, for a total transaction of $727,260.00. Following the completion of the transaction, the chief marketing officer now directly owns 2,905 shares of the company’s stock, valued at approximately $900,550. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 35,596 shares of company stock valued at $10,698,289. Insiders own 0.23% of the company’s stock.

McDonald’s Stock Down 1.2 %

MCD stock traded down $3.46 during midday trading on Wednesday, hitting $293.86. The company’s stock had a trading volume of 1,234,772 shares, compared to its average volume of 3,513,626. The firm has a market capitalization of $210.80 billion, a price-to-earnings ratio of 26.09, a price-to-earnings-growth ratio of 3.92 and a beta of 0.74. McDonald’s Co. has a 12 month low of $243.53 and a 12 month high of $317.90. The company has a 50 day moving average of $298.60 and a two-hundred day moving average of $276.23.

McDonald’s (NYSE:MCD) last posted its earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share for the quarter, beating the consensus estimate of $3.18 by $0.05. The company had revenue of $6.87 billion during the quarter, compared to analysts’ expectations of $6.82 billion. McDonald’s had a net margin of 31.79% and a negative return on equity of 178.99%. McDonald’s’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period last year, the company posted $3.19 earnings per share. On average, analysts anticipate that McDonald’s Co. will post 11.77 earnings per share for the current fiscal year.

McDonald’s Increases Dividend

The company 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 $1.77 dividend. This is an increase from McDonald’s’s previous quarterly dividend of $1.67. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date is Monday, December 2nd. McDonald’s’s payout ratio is currently 58.65%.

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.