McDonald’s Co. (NYSE:MCD) Shares Sold by Asset Advisors Investment Management LLC

Asset Advisors Investment Management LLC cut its holdings in shares of McDonald’s Co. (NYSE:MCD) by 3.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,373 shares of the fast-food giant’s stock after selling 297 shares during the period. Asset Advisors Investment Management LLC’s holdings in McDonald’s were worth $2,245,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in MCD. Optimist Retirement Group LLC increased its stake in shares of McDonald’s by 5.3% during the third quarter. Optimist Retirement Group LLC now owns 7,240 shares of the fast-food giant’s stock valued at $2,205,000 after acquiring an additional 364 shares during the period. Destination Wealth Management boosted its stake in McDonald’s by 1.6% during the 3rd quarter. Destination Wealth Management now owns 83,431 shares of the fast-food giant’s stock valued at $25,406,000 after purchasing an additional 1,277 shares in the last quarter. Wilmington Savings Fund Society FSB increased its position in shares of McDonald’s by 96.5% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 78,751 shares of the fast-food giant’s stock valued at $23,980,000 after purchasing an additional 38,669 shares during the period. Arvest Bank Trust Division bought a new stake in shares of McDonald’s in the 3rd quarter worth $2,432,000. Finally, World Investment Advisors LLC lifted its holdings in shares of McDonald’s by 12.7% in the third quarter. World Investment Advisors LLC now owns 6,675 shares of the fast-food giant’s stock valued at $2,033,000 after buying an additional 752 shares during the period. 70.29% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Morgan Stanley boosted their price target on shares of McDonald’s from $296.00 to $340.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 15th. BMO Capital Markets increased their target price on shares of McDonald’s from $315.00 to $335.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Wells Fargo & Company upped their price target on McDonald’s from $285.00 to $350.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Evercore ISI raised their price objective on McDonald’s from $320.00 to $340.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 15th. Finally, Robert W. Baird cut McDonald’s from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $320.00 to $290.00 in a report on Wednesday, October 23rd. Twelve 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 an average rating of “Moderate Buy” and an average target price of $320.50.

Insider Activity at McDonald’s

In related news, CFO Ian Frederick Borden sold 5,939 shares of the business’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $300.04, for a total transaction of $1,781,937.56. Following the completion of the transaction, the chief financial officer now owns 20,403 shares of the company’s stock, valued at approximately $6,121,716.12. The trade was a 22.55 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Christopher J. Kempczinski sold 11,727 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $300.03, for a total value of $3,518,451.81. Following the completion of the sale, the chief executive officer now directly owns 49,885 shares in the company, valued at $14,966,996.55. This trade represents a 19.03 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 34,099 shares of company stock valued at $10,273,786. Corporate insiders own 0.23% of the company’s stock.

McDonald’s Stock Performance

NYSE:MCD opened at $296.52 on Friday. The company has a market capitalization of $212.49 billion, a P/E ratio of 26.03, a P/E/G ratio of 3.94 and a beta of 0.73. The stock’s 50 day moving average price is $299.03 and its 200 day moving average price is $280.82. McDonald’s Co. has a 52 week low of $243.53 and a 52 week high of $317.90.

McDonald’s (NYSE:MCD) last released 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 business had revenue of $6.87 billion for 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 175.42%. McDonald’s’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter last year, the firm earned $3.19 EPS. As a group, sell-side analysts forecast that McDonald’s Co. will post 11.75 earnings per share for the current fiscal year.

McDonald’s Increases Dividend

The business also recently disclosed 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 is a positive change from McDonald’s’s previous quarterly dividend of $1.67. The ex-dividend date is Monday, December 2nd. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.39%. McDonald’s’s dividend payout ratio is currently 62.16%.

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.