McDonald’s Co. (NYSE:MCD) Shares Sold by My Legacy Advisors LLC

My Legacy Advisors LLC cut its holdings in shares of McDonald’s Co. (NYSE:MCD) by 15.4% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,670 shares of the fast-food giant’s stock after selling 852 shares during the quarter. My Legacy Advisors LLC’s holdings in McDonald’s were worth $1,422,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Dixon Mitchell Investment Counsel Inc. bought a new stake in shares of McDonald’s during the 1st quarter worth about $28,000. Kings Path Partners LLC acquired a new stake in McDonald’s during the 2nd quarter worth $38,000. Keener Financial Planning LLC raised its stake in shares of McDonald’s by 32.3% in the 1st quarter. Keener Financial Planning LLC now owns 176 shares of the fast-food giant’s stock valued at $50,000 after purchasing an additional 43 shares during the period. Opal Wealth Advisors LLC bought a new position in McDonald’s during the second quarter worth about $59,000. Finally, Bbjs Financial Advisors LLC bought a new stake in shares of McDonald’s during the second quarter worth approximately $65,000. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

McDonald’s Stock Down 0.0 %

NYSE MCD traded down $0.03 on Tuesday, reaching $314.86. 651,587 shares of the stock traded hands, compared to its average volume of 3,338,856. McDonald’s Co. has a 12 month low of $243.53 and a 12 month high of $317.90. The company has a market cap of $226.91 billion, a price-to-earnings ratio of 26.64, a P/E/G ratio of 4.05 and a beta of 0.73. The firm’s fifty day simple moving average is $295.53 and its 200 day simple moving average is $274.01.

McDonald’s (NYSE:MCD) last posted its quarterly earnings results on Monday, July 29th. The fast-food giant reported $2.97 earnings per share 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 during the quarter, compared to analyst estimates of $6.62 billion. During the same period last year, the company earned $3.17 EPS. The business’s revenue for the quarter was down .1% compared to the same quarter last year. As a group, equities research analysts forecast that McDonald’s Co. will post 11.71 EPS for the current fiscal year.

McDonald’s Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a $1.77 dividend. This is a positive change 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 2.25%. McDonald’s’s payout ratio is presently 60.10%.

Insiders Place Their Bets

In other McDonald’s news, insider Joseph M. Erlinger sold 1,098 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were 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 of the company’s stock, valued at $3,632,712.10. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CMO Edith Morgan Flatley sold 2,346 shares of the firm’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $310.00, for a total transaction of $727,260.00. Following the sale, the chief marketing officer now owns 2,905 shares in the company, valued at approximately $900,550. 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 dated Friday, August 23rd. The stock was sold at an average price of $288.70, for a total transaction of $316,992.60. Following the sale, the insider now owns 12,583 shares of the company’s stock, valued at approximately $3,632,712.10. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 32,998 shares of company stock valued at $9,935,493 in the last three months. 0.23% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms recently commented on MCD. Loop Capital reaffirmed a “buy” rating on shares of McDonald’s in a research note on Friday. TD Cowen upped their price target on shares of McDonald’s from $280.00 to $300.00 and gave the company a “hold” rating in a research report on Wednesday, October 16th. Citigroup raised their price objective on shares of McDonald’s from $301.00 to $317.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. JPMorgan Chase & Co. raised their price target on shares of McDonald’s from $270.00 to $290.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Finally, Barclays lifted their target price on shares of McDonald’s from $300.00 to $325.00 and gave the company an “overweight” rating in a research note on Tuesday. Ten research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. According to data from MarketBeat.com, McDonald’s currently has an average rating of “Moderate Buy” and an average price target of $319.52.

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.