Patron Partners LLC Reduces Stock Position in McDonald’s Co. (NYSE:MCD)

Patron Partners LLC reduced its stake in shares of McDonald’s Co. (NYSE:MCD) by 3.9% during the 3rd quarter, HoldingsChannel reports. The fund owned 5,244 shares of the fast-food giant’s stock after selling 210 shares during the period. McDonald’s accounts for about 0.9% of Patron Partners LLC’s holdings, making the stock its 21st largest position. Patron Partners LLC’s holdings in McDonald’s were worth $1,597,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Kings Path Partners LLC bought a new stake in shares of McDonald’s during the 2nd quarter worth approximately $38,000. Hara Capital LLC bought a new stake in shares of McDonald’s during the third quarter worth $44,000. Opal Wealth Advisors LLC purchased a new stake in shares of McDonald’s during the second quarter valued at $59,000. Bbjs Financial Advisors LLC bought a new position in shares of McDonald’s in the second quarter worth about $65,000. Finally, Macroview Investment Management LLC increased its stake in McDonald’s by 433.3% in the 2nd quarter. Macroview Investment Management LLC now owns 256 shares of the fast-food giant’s stock worth $65,000 after buying an additional 208 shares during the period. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on MCD. Baird R W cut shares of McDonald’s from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. KeyCorp lifted their target price on McDonald’s from $305.00 to $330.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Guggenheim downgraded McDonald’s from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $290.00 to $285.00 in a research report on Wednesday, October 23rd. BMO Capital Markets lifted their price objective on McDonald’s from $315.00 to $335.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Finally, Stifel Nicolaus dropped their target price on shares of McDonald’s from $285.00 to $265.00 and set a “hold” rating on the stock in a report on Monday, July 22nd. Thirteen research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $319.46.

Insider Activity

In related news, insider Joseph M. Erlinger sold 1,098 shares of the firm’s stock in a transaction dated 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 sale, the insider now directly owns 12,583 shares in the company, valued at approximately $3,632,712.10. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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. Also, insider Joseph M. Erlinger sold 1,099 shares of McDonald’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $298.57, for a total transaction of $328,128.43. Following the sale, the insider now owns 11,484 shares of the company’s stock, valued at approximately $3,428,777.88. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 35,596 shares of company stock valued at $10,698,289. 0.23% of the stock is currently owned by insiders.

McDonald’s Stock Up 0.9 %

Shares of NYSE 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’s 50-day simple moving average is $299.34 and its 200-day simple moving average is $276.82. The firm has a market cap of $216.30 billion, a price-to-earnings ratio of 26.47, a price-to-earnings-growth ratio of 3.98 and a beta of 0.74.

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

McDonald’s Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a dividend of $1.77 per share. This represents a $7.08 annualized dividend and a dividend yield of 2.35%. The ex-dividend date is Monday, December 2nd. This is a positive change from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s payout ratio is currently 58.65%.

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.