McDonald’s Co. (NYSE:MCD) Stake Trimmed by Shoker Investment Counsel Inc.

Shoker Investment Counsel Inc. cut its position in shares of McDonald’s Co. (NYSE:MCD) by 2.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,196 shares of the fast-food giant’s stock after selling 303 shares during the quarter. Shoker Investment Counsel Inc.’s holdings in McDonald’s were worth $3,105,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Kings Path Partners LLC acquired a new position in McDonald’s during the second quarter valued at $38,000. Hara Capital LLC acquired a new position in shares of McDonald’s in the 3rd quarter valued at about $44,000. Opal Wealth Advisors LLC purchased a new stake in shares of McDonald’s in the second quarter worth approximately $59,000. Bbjs Financial Advisors LLC acquired a new stake in shares of McDonald’s during the second quarter worth approximately $65,000. Finally, Macroview Investment Management LLC grew its position in McDonald’s by 433.3% during the second quarter. Macroview Investment Management LLC now owns 256 shares of the fast-food giant’s stock valued at $65,000 after purchasing an additional 208 shares in the last quarter. 70.29% of the stock is currently owned by institutional investors and hedge funds.

McDonald’s Trading Up 1.5 %

MCD opened at $298.97 on Friday. McDonald’s Co. has a 1-year low of $243.53 and a 1-year high of $317.90. The business has a 50 day moving average of $299.08 and a 200-day moving average of $276.64. The stock has a market capitalization of $214.46 billion, a price-to-earnings ratio of 26.25, a P/E/G 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 for the quarter, beating analysts’ consensus estimates of $3.18 by $0.05. The firm had revenue of $6.87 billion during the quarter, compared to the consensus estimate of $6.82 billion. McDonald’s had a net margin of 31.79% and a negative return on equity of 178.99%. The business’s revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the firm earned $3.19 EPS. Equities analysts predict that McDonald’s Co. will post 11.77 EPS for the current year.

McDonald’s Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a dividend of $1.77 per share. 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. The ex-dividend date is Monday, December 2nd. McDonald’s’s payout ratio is currently 58.65%.

Insider Buying and Selling at McDonald’s

In other McDonald’s news, EVP Marion K. Gross sold 1,499 shares of McDonald’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $294.51, for a total transaction of $441,470.49. Following the sale, the executive vice president now owns 1,560 shares in the company, valued at $459,435.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, EVP Marion K. Gross sold 1,498 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $286.36, for a total value 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. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Marion K. Gross sold 1,499 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $294.51, for a total value of $441,470.49. Following the transaction, the executive vice president now owns 1,560 shares of the company’s stock, valued at $459,435.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 35,596 shares of company stock valued at $10,698,289 in the last quarter. Corporate insiders own 0.23% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Morgan Stanley lifted their target price on shares of McDonald’s from $296.00 to $340.00 and gave the company an “overweight” rating in a research note on Tuesday, October 15th. Loop Capital reissued a “buy” rating on shares of McDonald’s in a research report on Friday, October 18th. Guggenheim lowered McDonald’s from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $290.00 to $285.00 in a research report on Wednesday, October 23rd. TD Cowen reiterated a “hold” rating and set a $300.00 price target on shares of McDonald’s in a report on Tuesday, October 29th. Finally, JPMorgan Chase & Co. boosted their price target on McDonald’s from $270.00 to $290.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Thirteen investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $319.46.

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.