Harbour Investments Inc. Reduces Position in McDonald’s Co. (NYSE:MCD)

Harbour Investments Inc. cut its position in shares of McDonald’s Co. (NYSE:MCD) by 8.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 15,951 shares of the fast-food giant’s stock after selling 1,438 shares during the period. Harbour Investments Inc.’s holdings in McDonald’s were worth $4,857,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in MCD. Nations Financial Group Inc. IA ADV lifted its holdings in McDonald’s by 6.2% during the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 11,593 shares of the fast-food giant’s stock valued at $3,530,000 after buying an additional 675 shares in the last quarter. tru Independence LLC lifted its holdings in McDonald’s by 5.8% during the 3rd quarter. tru Independence LLC now owns 2,378 shares of the fast-food giant’s stock valued at $724,000 after buying an additional 131 shares in the last quarter. Venturi Wealth Management LLC lifted its holdings in McDonald’s by 18.5% during the 3rd quarter. Venturi Wealth Management LLC now owns 5,483 shares of the fast-food giant’s stock valued at $1,670,000 after buying an additional 855 shares in the last quarter. Addison Advisors LLC lifted its holdings in McDonald’s by 4.3% during the 3rd quarter. Addison Advisors LLC now owns 1,810 shares of the fast-food giant’s stock valued at $551,000 after buying an additional 75 shares in the last quarter. Finally, GDS Wealth Management raised its holdings in shares of McDonald’s by 1.4% in the 3rd quarter. GDS Wealth Management now owns 2,504 shares of the fast-food giant’s stock valued at $762,000 after purchasing an additional 35 shares in the last quarter. 70.29% of the stock is owned by hedge funds and other institutional investors.

McDonald’s Stock Up 0.9 %

Shares of MCD opened at $301.53 on Tuesday. McDonald’s Co. has a 52-week low of $243.53 and a 52-week high of $317.90. The company has a market capitalization of $216.30 billion, a PE ratio of 26.47, a price-to-earnings-growth ratio of 3.98 and a beta of 0.74. The stock has a fifty day simple moving average of $299.08 and a two-hundred day simple moving average of $276.64.

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

McDonald’s Increases Dividend

The firm 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 represents a $7.08 dividend on an annualized basis and a dividend yield of 2.35%. 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. McDonald’s’s dividend payout ratio (DPR) is presently 58.65%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on MCD shares. Baird R W lowered shares of McDonald’s from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Stifel Nicolaus reduced their price target on shares of McDonald’s from $285.00 to $265.00 and set a “hold” rating for the company in a report on Monday, July 22nd. Barclays boosted their price target on shares of McDonald’s from $300.00 to $325.00 and gave the company an “overweight” rating in a report on Tuesday, October 22nd. BMO Capital Markets boosted their price objective on shares of McDonald’s from $315.00 to $335.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Finally, Bank of America boosted their price objective on shares of McDonald’s from $321.00 to $324.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. 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 presently has a consensus rating of “Moderate Buy” and a consensus target price of $319.46.

Insider Buying and Selling

In related news, insider Joseph M. Erlinger sold 1,098 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was 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 directly owns 12,583 shares of the company’s stock, valued at approximately $3,632,712.10. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other McDonald’s news, EVP Marion K. Gross sold 1,498 shares of McDonald’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $286.36, for a total value of $428,967.28. Following the completion of the transaction, the executive vice president now directly owns 1,560 shares of the company’s stock, valued at $446,721.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Joseph M. Erlinger sold 1,098 shares of McDonald’s stock in a transaction dated 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 transaction, the insider now owns 12,583 shares of the company’s stock, valued at $3,632,712.10. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 35,596 shares of company stock valued at $10,698,289. 0.23% of the stock is currently owned by insiders.

McDonald’s Company 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.