McDonald’s Co. (NYSE:MCD) Shares Sold by Fortitude Family Office LLC

Fortitude Family Office LLC lowered its position in shares of McDonald’s Co. (NYSE:MCD) by 58.7% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 3,024 shares of the fast-food giant’s stock after selling 4,305 shares during the quarter. Fortitude Family Office LLC’s holdings in McDonald’s were worth $921,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in MCD. Dixon Mitchell Investment Counsel Inc. acquired a new stake in shares of McDonald’s during the first quarter worth about $28,000. Kings Path Partners LLC purchased a new stake in shares of McDonald’s in the 2nd quarter valued at $38,000. Keener Financial Planning LLC increased its stake 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 worth $50,000 after acquiring an additional 43 shares during the period. Opal Wealth Advisors LLC purchased a new position in shares of McDonald’s during the second quarter worth $59,000. Finally, Bbjs Financial Advisors LLC acquired a new position in McDonald’s during the second quarter valued at $65,000. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Wall Street Analyst Weigh In

MCD has been the topic of several analyst reports. BMO Capital Markets cut their price target 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. Deutsche Bank Aktiengesellschaft reduced their price target on McDonald’s from $295.00 to $290.00 and set a “buy” rating for the company in a research report on Tuesday, July 30th. Baird R W lowered McDonald’s from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. Tigress Financial lifted their target price on shares of McDonald’s from $355.00 to $360.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Finally, Citigroup increased their price target on shares of McDonald’s from $301.00 to $317.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Thirteen 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, McDonald’s currently has an average rating of “Moderate Buy” and an average price target of $318.22.

Insider Buying and Selling at McDonald’s

In other news, insider Joseph M. Erlinger sold 1,098 shares of McDonald’s stock in a transaction 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 transaction, the insider now owns 12,583 shares in the company, valued at $3,632,712.10. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other 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 value of $316,992.60. Following the completion of the sale, the insider now 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 transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Marion K. Gross sold 1,498 shares of McDonald’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $286.36, for a total transaction of $428,967.28. Following the sale, the executive vice president now directly owns 1,560 shares in the company, valued at approximately $446,721.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 34,097 shares of company stock worth $10,256,818 in the last three months. 0.23% of the stock is owned by corporate insiders.

McDonald’s Trading Up 1.5 %

NYSE:MCD opened at $296.87 on Tuesday. The company has a market cap of $213.95 billion, a P/E ratio of 25.20, a P/E/G ratio of 4.13 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 company’s 50-day moving average price is $297.97 and its 200-day moving average price is $275.16.

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

McDonald’s Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a dividend of $1.77 per share. This is an increase from McDonald’s’s previous quarterly dividend of $1.67. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $7.08 dividend on an annualized basis and a yield of 2.38%. McDonald’s’s dividend payout ratio (DPR) 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.