Citizens Business Bank Sells 191 Shares of McDonald’s Co. (NYSE:MCD)

Citizens Business Bank lowered its stake in McDonald’s Co. (NYSE:MCD) by 1.7% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 11,166 shares of the fast-food giant’s stock after selling 191 shares during the period. Citizens Business Bank’s holdings in McDonald’s were worth $3,400,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. International Assets Investment Management LLC raised its stake in McDonald’s by 31,151.1% in the 3rd 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 in the last quarter. Caisse DE Depot ET Placement DU Quebec increased its holdings in shares of McDonald’s by 542.9% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 801,858 shares of the fast-food giant’s stock worth $244,174,000 after purchasing an additional 677,139 shares during the period. Mondrian Investment Partners LTD bought a new position in shares of McDonald’s during the second quarter worth approximately $110,321,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of McDonald’s in the third quarter valued at approximately $121,254,000. Finally, Ameriprise Financial Inc. boosted its stake in shares of McDonald’s by 8.0% in the second quarter. Ameriprise Financial Inc. now owns 4,761,625 shares of the fast-food giant’s stock valued at $1,216,677,000 after buying an additional 354,196 shares during the period. 70.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

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 $14,966,996.55. This represents a 19.03 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Joseph M. Erlinger sold 1,099 shares of McDonald’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $292.50, for a total value of $321,457.50. Following the completion of the sale, the insider now owns 9,286 shares of the company’s stock, valued at approximately $2,716,155. The trade was a 10.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,099 shares of company stock valued at $10,273,786. 0.23% of the stock is currently owned by insiders.

McDonald’s Stock Down 0.2 %

NYSE MCD opened at $300.76 on Wednesday. The company has a market capitalization of $215.53 billion, a price-to-earnings ratio of 26.41, a PEG ratio of 4.01 and a beta of 0.73. McDonald’s Co. has a twelve month low of $243.53 and a twelve month high of $317.90. The stock has a fifty day simple moving average of $299.37 and a 200 day simple moving average of $280.30.

McDonald’s (NYSE:MCD) last issued its quarterly earnings data 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 negative return on equity of 175.42% and a net margin of 31.79%. The company had revenue of $6.87 billion during the quarter, compared to the consensus estimate of $6.82 billion. During the same period last year, the company earned $3.19 earnings per share. The firm’s revenue was up 2.7% compared to the same quarter last year. Research analysts expect that McDonald’s Co. will post 11.77 earnings per share for the current fiscal year.

McDonald’s Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a $1.77 dividend. The ex-dividend date is Monday, December 2nd. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.35%. This is an increase from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s payout ratio is 62.16%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on MCD. Baird R W cut McDonald’s from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Guggenheim cut McDonald’s from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $290.00 to $285.00 in a research report on Wednesday, October 23rd. Robert W. Baird cut shares of McDonald’s from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $320.00 to $290.00 in a research report on Wednesday, October 23rd. Jefferies Financial Group raised their target price on shares of McDonald’s from $310.00 to $330.00 and gave the company a “buy” rating in a report on Monday, September 9th. Finally, TD Cowen reaffirmed a “hold” rating and set a $300.00 price target on shares of McDonald’s in a report on Tuesday, October 29th. Thirteen analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $319.64.

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.