Cromwell Holdings LLC Sells 141 Shares of McDonald’s Co. (NYSE:MCD)

Cromwell Holdings LLC trimmed its holdings in shares of McDonald’s Co. (NYSE:MCD) by 8.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,621 shares of the fast-food giant’s stock after selling 141 shares during the quarter. Cromwell Holdings LLC’s holdings in McDonald’s were worth $494,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Dixon Mitchell Investment Counsel Inc. bought a new stake in McDonald’s in the first quarter worth approximately $28,000. Kings Path Partners LLC bought a new position in shares of McDonald’s during the second quarter valued at about $38,000. Keener Financial Planning LLC grew its holdings in shares of McDonald’s by 32.3% in the first quarter. Keener Financial Planning LLC now owns 176 shares of the fast-food giant’s stock valued at $50,000 after acquiring an additional 43 shares in the last quarter. Opal Wealth Advisors LLC purchased a new stake in shares of McDonald’s during the 2nd quarter valued at $59,000. Finally, Bbjs Financial Advisors LLC bought a new stake in McDonald’s in the second quarter worth about $65,000. 70.29% of the stock is currently owned by institutional investors and hedge funds.

McDonald’s Stock Performance

McDonald’s stock opened at $292.50 on Friday. The stock has a fifty day moving average of $297.78 and a 200 day moving average of $274.88. The stock has a market cap of $210.80 billion, a PE ratio of 24.83, a price-to-earnings-growth ratio of 4.13 and a beta of 0.73. McDonald’s Co. has a one year low of $243.53 and a one year high of $317.90.

McDonald’s (NYSE:MCD) last issued its quarterly 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 business had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.62 billion. During the same quarter in the prior year, the business earned $3.17 EPS. The company’s revenue was down .1% compared to the same quarter last year. As a group, sell-side analysts predict that McDonald’s Co. will post 11.73 EPS for the current fiscal year.

McDonald’s Increases Dividend

The business also recently disclosed 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. This is a boost 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 2.42%. The ex-dividend date of this dividend is Monday, December 2nd. McDonald’s’s payout ratio is presently 60.10%.

Analysts Set New Price Targets

MCD has been the topic of a number of recent research reports. Wedbush reaffirmed an “outperform” rating and set a $295.00 price target on shares of McDonald’s in a research report on Wednesday. JPMorgan Chase & Co. raised their price target on McDonald’s from $270.00 to $290.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. KeyCorp boosted their price objective on McDonald’s from $305.00 to $330.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Stifel Nicolaus reduced their price objective on shares of McDonald’s from $285.00 to $265.00 and set a “hold” rating for the company in a research note on Monday, July 22nd. Finally, Robert W. Baird lowered McDonald’s from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $320.00 to $290.00 in a research note on Wednesday. Thirteen investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. Based on data from MarketBeat, McDonald’s has an average rating of “Moderate Buy” and an average price target of $318.22.

Insider Activity at McDonald’s

In other news, CEO Christopher J. Kempczinski sold 11,727 shares of the stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $300.03, for a total value of $3,518,451.81. Following the completion of the sale, the chief executive officer now directly owns 49,885 shares of the company’s stock, valued at $14,966,996.55. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, 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 transaction, the chief executive officer now directly owns 49,885 shares of the company’s stock, valued at approximately $14,966,996.55. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Marion K. Gross sold 1,498 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $286.36, for a total transaction of $428,967.28. Following the completion of the transaction, the executive vice president now directly owns 1,560 shares in the company, valued at $446,721.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,097 shares of company stock worth $10,256,818. 0.23% of the stock is 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.