Legend Financial Advisors Inc. Sells 42 Shares of McDonald’s Co. (NYSE:MCD)

Legend Financial Advisors Inc. decreased its holdings in McDonald’s Co. (NYSE:MCD) by 28.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 105 shares of the fast-food giant’s stock after selling 42 shares during the quarter. Legend Financial Advisors Inc.’s holdings in McDonald’s were worth $32,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of MCD. Perpetual Ltd acquired a new stake in shares of McDonald’s during the first quarter worth about $237,000. Douglas Lane & Associates LLC boosted its stake in shares of McDonald’s by 12.0% during the 1st quarter. Douglas Lane & Associates LLC now owns 2,196 shares of the fast-food giant’s stock worth $619,000 after acquiring an additional 236 shares in the last quarter. International Assets Investment Management LLC grew its position in shares of McDonald’s by 12.5% during the 1st quarter. International Assets Investment Management LLC now owns 8,249 shares of the fast-food giant’s stock valued at $2,311,000 after acquiring an additional 916 shares during the period. Salem Investment Counselors Inc. increased its stake in shares of McDonald’s by 1.0% in the 1st quarter. Salem Investment Counselors Inc. now owns 52,164 shares of the fast-food giant’s stock valued at $14,708,000 after purchasing an additional 497 shares in the last quarter. Finally, Orser Capital Management LLC raised its holdings in McDonald’s by 4.6% in the 1st quarter. Orser Capital Management LLC now owns 4,102 shares of the fast-food giant’s stock worth $1,157,000 after purchasing an additional 179 shares during the period. 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 recently issued reports on the stock. Citigroup lifted 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. UBS Group raised their target price on shares of McDonald’s from $305.00 to $345.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Wedbush restated an “outperform” rating and set a $295.00 target price on shares of McDonald’s in a report on Monday, July 29th. BMO Capital Markets reduced their price objective on McDonald’s from $330.00 to $315.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 30th. Finally, Guggenheim boosted their price objective on McDonald’s from $280.00 to $290.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Ten investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $315.69.

McDonald’s Stock Performance

MCD stock opened at $316.53 on Friday. The firm has a market cap of $228.12 billion, a P/E ratio of 26.87, a PEG ratio of 4.05 and a beta of 0.73. McDonald’s Co. has a 1 year low of $243.53 and a 1 year high of $317.18. The stock’s 50 day moving average price is $294.62 and its 200 day moving average price is $273.73.

McDonald’s (NYSE:MCD) last posted its quarterly earnings data on Monday, July 29th. The fast-food giant reported $2.97 EPS for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.10). The company had revenue of $6.49 billion for the quarter, compared to analyst estimates of $6.62 billion. McDonald’s had a net margin of 32.25% and a negative return on equity of 178.68%. The company’s revenue was down .1% compared to the same quarter last year. During the same period in the prior year, the company earned $3.17 EPS. On average, research analysts predict that McDonald’s Co. will post 11.71 earnings per share for the current year.

McDonald’s Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a dividend of $1.77 per share. The ex-dividend date is Monday, December 2nd. This is a positive change from McDonald’s’s previous quarterly dividend of $1.67. This represents a $7.08 annualized dividend and a yield of 2.24%. McDonald’s’s dividend payout ratio is currently 60.10%.

Insider Transactions at McDonald’s

In related news, insider Joseph M. Erlinger sold 1,098 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $288.70, for a total transaction of $316,992.60. Following the completion of the sale, the insider now owns 12,583 shares of the company’s stock, valued at approximately $3,632,712.10. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Joseph M. Erlinger sold 1,098 shares of McDonald’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $288.70, for a total transaction of $316,992.60. Following the sale, the insider now owns 12,583 shares in the company, valued at $3,632,712.10. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CMO Edith Morgan Flatley sold 2,346 shares of the business’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $310.00, for a total value of $727,260.00. Following the completion of 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 34,097 shares of company stock worth $10,221,233 in the last three months. 0.23% of the stock is currently owned by company insiders.

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.