McDonald’s Co. (NYSE:MCD) Holdings Lowered by Corundum Group Inc.

Corundum Group Inc. lowered its stake in McDonald’s Co. (NYSE:MCD) by 35.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,554 shares of the fast-food giant’s stock after selling 1,984 shares during the quarter. Corundum Group Inc.’s holdings in McDonald’s were worth $1,082,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Legal & General Group Plc raised 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 valued at $1,567,030,000 after acquiring an additional 188,888 shares during the period. Capital Research Global Investors lifted its holdings in shares of McDonald’s by 66.9% in the first quarter. Capital Research Global Investors now owns 5,471,007 shares of the fast-food giant’s stock valued at $1,542,550,000 after purchasing an additional 2,193,769 shares in the last quarter. Ameriprise Financial Inc. boosted its position in shares of McDonald’s by 8.0% in the second quarter. Ameriprise Financial Inc. now owns 4,761,625 shares of the fast-food giant’s stock worth $1,216,677,000 after buying an additional 354,196 shares during the period. Capital World Investors grew 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 valued at $1,005,264,000 after buying an additional 1,012,534 shares in the last quarter. Finally, Fayez Sarofim & Co raised its position in McDonald’s by 0.4% during the first quarter. Fayez Sarofim & Co now owns 2,273,354 shares of the fast-food giant’s stock valued at $640,972,000 after buying an additional 8,475 shares during the period. Institutional investors and hedge funds own 70.29% of the company’s stock.

Insider Buying and Selling at McDonald’s

In other news, CEO Christopher J. Kempczinski sold 11,727 shares of the company’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 transaction of $3,518,451.81. Following the transaction, the chief executive officer now directly owns 49,885 shares in the company, valued at approximately $14,966,996.55. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Christopher J. Kempczinski sold 11,727 shares of the business’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $300.03, for a total transaction of $3,518,451.81. Following the completion of the sale, the chief executive officer now owns 49,885 shares in the company, valued at $14,966,996.55. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Christopher J. Kempczinski sold 9,291 shares of the firm’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $305.00, for a total value of $2,833,755.00. Following the completion of the transaction, the chief executive officer now owns 43,256 shares in the company, valued at approximately $13,193,080. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 34,097 shares of company stock worth $10,221,233. 0.23% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on MCD. The Goldman Sachs Group lifted their target price on shares of McDonald’s from $284.00 to $325.00 and gave the company a “neutral” rating in a research note on Tuesday, September 24th. Guggenheim lifted their price target on shares of McDonald’s from $280.00 to $290.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. TD Cowen raised their target price on shares of McDonald’s from $280.00 to $300.00 and gave the company a “hold” rating in a research note on Wednesday, October 16th. UBS Group upped their price target 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, Tigress Financial boosted their price objective on McDonald’s from $355.00 to $360.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Ten investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $315.69.

McDonald’s Stock Up 0.6 %

Shares of MCD stock opened at $316.56 on Monday. The company has a market capitalization of $228.14 billion, a P/E ratio of 26.87, a P/E/G ratio of 4.05 and a beta of 0.73. McDonald’s Co. has a 12-month low of $243.53 and a 12-month high of $317.18. The firm has a 50-day moving average price of $294.62 and a 200 day moving average price of $273.69.

McDonald’s (NYSE:MCD) last released its quarterly earnings results on Monday, July 29th. The fast-food giant reported $2.97 EPS for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.10). McDonald’s had a negative return on equity of 178.68% and a net margin of 32.25%. The business had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.62 billion. During the same quarter last year, the company earned $3.17 earnings per share. The firm’s revenue was down .1% on a year-over-year basis. As a group, research analysts expect that McDonald’s Co. will post 11.71 earnings per share for the current year.

McDonald’s Increases Dividend

The business also recently declared 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 is an increase from McDonald’s’s previous quarterly dividend of $1.67. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $7.08 annualized dividend and a yield of 2.24%. McDonald’s’s dividend payout ratio is 60.10%.

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.