Bridges Investment Management Inc. Sells 1,996 Shares of McDonald’s Co. (NYSE:MCD)

Bridges Investment Management Inc. decreased its position in shares of McDonald’s Co. (NYSE:MCD) by 2.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 100,286 shares of the fast-food giant’s stock after selling 1,996 shares during the quarter. Bridges Investment Management Inc.’s holdings in McDonald’s were worth $30,538,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of MCD. Legal & General Group Plc grew its holdings in shares of McDonald’s by 3.2% during the second quarter. Legal & General Group Plc now owns 6,149,080 shares of the fast-food giant’s stock worth $1,567,030,000 after purchasing an additional 188,888 shares during the last quarter. Capital Research Global Investors boosted its position in McDonald’s by 66.9% during the 1st quarter. Capital Research Global Investors now owns 5,471,007 shares of the fast-food giant’s stock worth $1,542,550,000 after buying an additional 2,193,769 shares during the period. Ameriprise Financial Inc. increased its position in McDonald’s by 8.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 4,761,625 shares of the fast-food giant’s stock valued at $1,216,677,000 after acquiring an additional 354,196 shares during the period. Capital World Investors lifted its holdings in shares of McDonald’s by 39.7% during the first quarter. Capital World Investors now owns 3,565,398 shares of the fast-food giant’s stock worth $1,005,264,000 after purchasing an additional 1,012,534 shares during the period. Finally, International Assets Investment Management LLC increased its holdings in McDonald’s by 31,151.1% in the third quarter. International Assets Investment Management LLC now owns 2,319,142 shares of the fast-food giant’s stock valued at $706,202,000 after purchasing an additional 2,311,721 shares during the period. Institutional investors own 70.29% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on MCD shares. Tigress Financial lifted their target price on McDonald’s from $355.00 to $360.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Deutsche Bank Aktiengesellschaft lowered their price target on shares of McDonald’s from $295.00 to $290.00 and set a “buy” rating for the company in a report on Tuesday, July 30th. Stifel Nicolaus reduced their price objective on shares of McDonald’s from $285.00 to $265.00 and set a “hold” rating on the stock in a research note on Monday, July 22nd. UBS Group boosted their target price on shares of McDonald’s from $305.00 to $345.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Finally, Citigroup increased their price target on McDonald’s from $301.00 to $317.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Thirteen investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $319.46.

McDonald’s Stock Performance

Shares of NYSE:MCD opened at $298.97 on Friday. McDonald’s Co. has a fifty-two week low of $243.53 and a fifty-two week high of $317.90. The company’s 50-day moving average is $299.08 and its 200 day moving average is $276.64. The company has a market capitalization of $214.46 billion, a P/E ratio of 26.25, a price-to-earnings-growth ratio of 3.91 and a beta of 0.74.

McDonald’s (NYSE:MCD) last issued its quarterly earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.18 by $0.05. McDonald’s had a net margin of 31.79% and a negative return on equity of 178.99%. The company had revenue of $6.87 billion during the quarter, compared to analyst estimates of $6.82 billion. During the same quarter last year, the business posted $3.19 EPS. McDonald’s’s quarterly revenue was up 2.7% compared to the same quarter last year. As a group, research analysts predict that McDonald’s Co. will post 11.77 earnings per share for the current year.

McDonald’s Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a $1.77 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $7.08 annualized dividend and a yield of 2.37%. This is a positive change from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s dividend payout ratio (DPR) is 58.65%.

Insider Activity at McDonald’s

In related news, insider Joseph M. Erlinger sold 1,098 shares of the company’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 directly owns 12,583 shares in the company, valued at approximately $3,632,712.10. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, EVP Marion K. Gross sold 1,499 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $294.51, for a total value of $441,470.49. Following the sale, the executive vice president now directly owns 1,560 shares of the company’s stock, valued at approximately $459,435.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Joseph M. Erlinger sold 1,098 shares of the firm’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 completion of the transaction, the insider now owns 12,583 shares of the company’s stock, valued at $3,632,712.10. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 35,596 shares of company stock worth $10,698,289. Company insiders own 0.23% of the company’s stock.

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.