McDonald’s Co. (NYSE:MCD) Shares Sold by Concentric Capital Strategies LP

Concentric Capital Strategies LP lessened its holdings in shares of McDonald’s Co. (NYSE:MCD) by 67.5% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,107 shares of the fast-food giant’s stock after selling 10,602 shares during the period. Concentric Capital Strategies LP’s holdings in McDonald’s were worth $1,555,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. CVA Family Office LLC increased its position in McDonald’s by 4.4% in the 2nd quarter. CVA Family Office LLC now owns 1,619 shares of the fast-food giant’s stock valued at $413,000 after acquiring an additional 68 shares during the period. CWM LLC increased its holdings in shares of McDonald’s by 7.5% during the second quarter. CWM LLC now owns 74,266 shares of the fast-food giant’s stock valued at $18,926,000 after purchasing an additional 5,173 shares during the period. First Affirmative Financial Network raised its stake in shares of McDonald’s by 20.0% during the second quarter. First Affirmative Financial Network now owns 990 shares of the fast-food giant’s stock valued at $252,000 after purchasing an additional 165 shares in the last quarter. M. Kraus & Co lifted its holdings in McDonald’s by 2.3% in the second quarter. M. Kraus & Co now owns 2,247 shares of the fast-food giant’s stock worth $573,000 after purchasing an additional 50 shares during the period. Finally, Aprio Wealth Management LLC grew its position in McDonald’s by 3.6% in the 2nd quarter. Aprio Wealth Management LLC now owns 1,998 shares of the fast-food giant’s stock valued at $509,000 after buying an additional 69 shares in the last quarter. Institutional investors and hedge funds own 70.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Citigroup upped their price target on shares of McDonald’s from $301.00 to $317.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. UBS Group upped their target price on McDonald’s from $305.00 to $345.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. The Goldman Sachs Group lifted their price target on McDonald’s from $284.00 to $325.00 and gave the company a “neutral” rating in a research report on Tuesday, September 24th. Wedbush restated an “outperform” rating and issued a $295.00 price objective on shares of McDonald’s in a report on Wednesday, October 23rd. Finally, Baird R W lowered McDonald’s from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Thirteen research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, McDonald’s currently has a consensus rating of “Moderate Buy” and an average price target of $319.64.

Insider Transactions at McDonald’s

In other news, CEO Christopher J. Kempczinski sold 11,727 shares of the stock in a transaction 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 owns 49,885 shares in the company, valued at $14,966,996.55. This represents a 19.03 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Marion K. Gross sold 1,499 shares of McDonald’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $294.51, for a total transaction of $441,470.49. Following the completion of the sale, the executive vice president now directly owns 1,560 shares of the company’s stock, valued at approximately $459,435.60. The trade was a 49.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 34,099 shares of company stock valued at $10,273,786 in the last three months. Corporate insiders own 0.23% of the company’s stock.

McDonald’s Price Performance

NYSE MCD opened at $292.44 on Tuesday. The company has a 50 day simple moving average of $299.96 and a 200-day simple moving average of $279.04. McDonald’s Co. has a 52-week low of $243.53 and a 52-week high of $317.90. The firm has a market capitalization of $209.57 billion, a price-to-earnings ratio of 25.68, a price-to-earnings-growth ratio of 3.94 and a beta of 0.73.

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, beating analysts’ consensus estimates of $3.18 by $0.05. McDonald’s had a net margin of 31.79% and a negative return on equity of 175.42%. The company had revenue of $6.87 billion during the quarter, compared to analyst estimates of $6.82 billion. During the same quarter last year, the business posted $3.19 EPS. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. On average, analysts predict that McDonald’s Co. will post 11.77 EPS for the current year.

McDonald’s Increases Dividend

The company 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. This is a positive change from McDonald’s’s previous quarterly dividend of $1.67. This represents a $7.08 annualized dividend and a yield of 2.42%. The ex-dividend date of this dividend is Monday, December 2nd. McDonald’s’s dividend payout ratio is presently 58.65%.

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.