Glen Eagle Advisors LLC Cuts Stock Position in McDonald’s Co. (NYSE:MCD)

Glen Eagle Advisors LLC trimmed its position in shares of McDonald’s Co. (NYSE:MCD) by 2.1% in the third quarter, HoldingsChannel.com reports. The fund owned 4,734 shares of the fast-food giant’s stock after selling 102 shares during the period. Glen Eagle Advisors LLC’s holdings in McDonald’s were worth $1,442,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. RPg Family Wealth Advisory LLC acquired a new stake in shares of McDonald’s in the third quarter valued at $31,000. Kings Path Partners LLC purchased a new stake in McDonald’s during the 2nd quarter worth about $38,000. Hara Capital LLC acquired a new stake in McDonald’s in the 3rd quarter valued at about $44,000. Peterson Financial Group Inc. purchased a new position in shares of McDonald’s in the 3rd quarter valued at about $58,000. Finally, Opal Wealth Advisors LLC acquired a new position in shares of McDonald’s during the second quarter worth about $59,000. 70.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. The Goldman Sachs Group lifted their price target on shares of McDonald’s from $284.00 to $325.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 24th. Barclays boosted their target price on shares of McDonald’s from $300.00 to $325.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 22nd. Bank of America raised their price target on McDonald’s from $321.00 to $324.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Guggenheim cut McDonald’s from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $290.00 to $285.00 in a research report on Wednesday, October 23rd. Finally, UBS Group increased their price objective on McDonald’s from $305.00 to $345.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Thirteen investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $319.64.

McDonald’s Stock Down 0.2 %

Shares of NYSE:MCD opened at $298.78 on Friday. The company’s 50-day moving average price is $299.53 and its 200 day moving average price is $279.58. McDonald’s Co. has a fifty-two week low of $243.53 and a fifty-two week high of $317.90. The company has a market cap of $214.11 billion, a PE ratio of 26.23, a P/E/G ratio of 3.92 and a beta of 0.73.

McDonald’s (NYSE:MCD) last posted its earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 EPS for the quarter, beating the consensus estimate of $3.18 by $0.05. McDonald’s had a negative return on equity of 175.42% and a net margin of 31.79%. The firm had revenue of $6.87 billion for the quarter, compared to analysts’ expectations of $6.82 billion. During the same period last year, the firm earned $3.19 EPS. The firm’s revenue was up 2.7% compared to the same quarter last year. As a group, equities analysts anticipate that McDonald’s Co. will post 11.77 EPS for the current 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 paid a dividend of $1.77 per share. This is a boost from McDonald’s’s previous quarterly dividend of $1.67. The ex-dividend date is Monday, December 2nd. This represents a $7.08 annualized dividend and a yield of 2.37%. McDonald’s’s dividend payout ratio (DPR) is presently 62.16%.

Insiders Place Their Bets

In other news, EVP Marion K. Gross sold 1,499 shares of the business’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $294.51, for a total value of $441,470.49. Following the sale, the executive vice president now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Joseph M. Erlinger sold 1,099 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $292.50, for a total value of $321,457.50. Following the transaction, the insider now directly owns 9,286 shares of the company’s stock, valued at $2,716,155. This represents a 10.58 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,099 shares of company stock worth $10,273,786. 0.23% of the stock is owned by corporate insiders.

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.