Court Place Advisors LLC Lowers Stock Holdings in McDonald’s Co. (NYSE:MCD)

Court Place Advisors LLC decreased its position in McDonald’s Co. (NYSE:MCD) by 0.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 5,519 shares of the fast-food giant’s stock after selling 50 shares during the period. Court Place Advisors LLC’s holdings in McDonald’s were worth $1,681,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Steigerwald Gordon & Koch Inc. raised its position in McDonald’s by 2.4% during the 3rd quarter. Steigerwald Gordon & Koch Inc. now owns 1,422 shares of the fast-food giant’s stock worth $433,000 after buying an additional 33 shares during the last quarter. Riversedge Advisors LLC boosted its holdings in McDonald’s by 2.0% in the 3rd quarter. Riversedge Advisors LLC now owns 1,686 shares of the fast-food giant’s stock worth $513,000 after buying an additional 33 shares during the last quarter. Proquility Private Wealth Partners LLC lifted its position in shares of McDonald’s by 1.0% in the third quarter. Proquility Private Wealth Partners LLC now owns 3,472 shares of the fast-food giant’s stock valued at $1,057,000 after acquiring an additional 35 shares in the last quarter. Founders Financial Alliance LLC boosted its stake in McDonald’s by 0.7% during the 2nd quarter. Founders Financial Alliance LLC now owns 4,980 shares of the fast-food giant’s stock worth $1,269,000 after purchasing an additional 36 shares during the last quarter. Finally, McAdam LLC increased its holdings in shares of McDonald’s by 1.7% in the third quarter. McAdam LLC now owns 2,176 shares of the fast-food giant’s stock valued at $663,000 after purchasing an additional 36 shares during the last quarter. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

McDonald’s Stock Down 1.4 %

NYSE:MCD traded down $4.13 during midday trading on Friday, hitting $297.45. The stock had a trading volume of 1,423,712 shares, compared to its average volume of 3,437,905. The company has a market capitalization of $214.37 billion, a price-to-earnings ratio of 25.60, a PEG ratio of 4.05 and a beta of 0.73. The stock has a 50-day moving average of $296.97 and a 200 day moving average of $274.51. McDonald’s Co. has a one year low of $243.53 and a one year high of $317.90.

McDonald’s (NYSE:MCD) last issued its quarterly earnings results on Monday, July 29th. The fast-food giant reported $2.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.10). McDonald’s had a net margin of 32.25% and a negative return on equity of 178.68%. The company had revenue of $6.49 billion for the quarter, compared to analyst estimates of $6.62 billion. During the same quarter in the previous year, the company posted $3.17 EPS. The company’s revenue for the quarter was down .1% compared to the same quarter last year. On average, sell-side analysts anticipate that McDonald’s Co. will post 11.71 earnings per share for the current fiscal year.

McDonald’s Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a $1.77 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $7.08 dividend on an annualized basis and a yield of 2.38%. This is a boost from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s dividend payout ratio is presently 60.10%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on MCD shares. Guggenheim lowered McDonald’s from a “buy” rating to a “neutral” rating and reduced their price target for the company from $290.00 to $285.00 in a research report on Wednesday. Robert W. Baird downgraded shares of McDonald’s from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $320.00 to $290.00 in a research report on Wednesday. Bank of America boosted their price objective on shares of McDonald’s from $308.00 to $322.00 and gave the stock a “neutral” rating in a research report on Monday. BMO Capital Markets reduced their price objective on shares of McDonald’s from $330.00 to $315.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 30th. Finally, Loop Capital restated a “buy” rating on shares of McDonald’s in a report on Friday, October 18th. Thirteen equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. Based on data from MarketBeat, McDonald’s currently has a consensus rating of “Moderate Buy” and an average target price of $318.22.

Insider Buying and Selling

In other McDonald’s news, insider Joseph M. Erlinger sold 1,098 shares of the company’s stock in a transaction that occurred on 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 $3,632,712.10. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, 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 transaction of $3,518,451.81. Following the completion of the sale, the chief executive officer now owns 49,885 shares of the company’s stock, valued at approximately $14,966,996.55. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Joseph M. Erlinger sold 1,098 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $288.70, for a total value 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 32,998 shares of company stock valued at $9,935,493 in the last ninety days. Company insiders own 0.23% of the company’s stock.

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.