Spectrum Asset Management Inc. NB CA Sells 266 Shares of McDonald’s Co. (NYSE:MCD)

Spectrum Asset Management Inc. NB CA decreased its stake in McDonald’s Co. (NYSE:MCD) by 10.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,207 shares of the fast-food giant’s stock after selling 266 shares during the period. Spectrum Asset Management Inc. NB CA’s holdings in McDonald’s were worth $672,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. International Assets Investment Management LLC lifted its position in McDonald’s by 31,151.1% during the third quarter. International Assets Investment Management LLC now owns 2,319,142 shares of the fast-food giant’s stock worth $706,202,000 after acquiring an additional 2,311,721 shares during the last quarter. Capital Research Global Investors grew its stake in shares of McDonald’s by 66.9% during the first quarter. Capital Research Global Investors now owns 5,471,007 shares of the fast-food giant’s stock worth $1,542,550,000 after buying an additional 2,193,769 shares during the last quarter. Swedbank AB bought a new stake in shares of McDonald’s during the first quarter worth $348,206,000. Capital World Investors grew its stake in shares of McDonald’s by 39.7% in the first quarter. Capital World Investors now owns 3,565,398 shares of the fast-food giant’s stock worth $1,005,264,000 after purchasing an additional 1,012,534 shares during the last quarter. Finally, Mondrian Investment Partners LTD bought a new stake in shares of McDonald’s in the second quarter worth $110,321,000. Institutional investors own 70.29% of the company’s stock.

McDonald’s Stock Down 5.1 %

MCD stock opened at $298.75 on Thursday. The company has a fifty day simple moving average of $296.97 and a two-hundred day simple moving average of $274.51. The firm has a market capitalization of $215.30 billion, a P/E ratio of 25.36, a price-to-earnings-growth ratio of 4.05 and a beta of 0.73. McDonald’s Co. has a 52 week low of $243.53 and a 52 week high of $317.90.

McDonald’s (NYSE:MCD) last released its earnings results on Monday, July 29th. The fast-food giant reported $2.97 earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $6.62 billion. During the same quarter last year, the business posted $3.17 EPS. McDonald’s’s revenue was down .1% compared to the same quarter last year. As a group, analysts anticipate that McDonald’s Co. will post 11.71 EPS for the current year.

McDonald’s Increases Dividend

The firm 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 dividend of $1.77 per share. This is an increase from McDonald’s’s previous quarterly dividend of $1.67. The ex-dividend date is Monday, December 2nd. This represents a $7.08 dividend on an annualized basis and a yield of 2.37%. McDonald’s’s dividend payout ratio (DPR) is 60.10%.

Insider Buying and Selling at McDonald’s

In other McDonald’s news, CMO Edith Morgan Flatley sold 2,346 shares of the firm’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $310.00, for a total transaction of $727,260.00. Following the transaction, the chief marketing officer now owns 2,905 shares of the company’s stock, valued at approximately $900,550. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CMO Edith Morgan Flatley sold 2,346 shares of McDonald’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $310.00, for a total value of $727,260.00. Following the completion of the sale, the chief marketing officer now directly owns 2,905 shares in the company, valued at $900,550. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Christopher J. Kempczinski sold 9,291 shares of McDonald’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $305.00, for a total transaction of $2,833,755.00. Following the completion of the sale, the chief executive officer now owns 43,256 shares of the company’s stock, valued at $13,193,080. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 32,998 shares of company stock valued at $9,935,493. Company insiders own 0.23% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Citigroup boosted their price objective 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. BMO Capital Markets dropped their price objective on shares of McDonald’s from $330.00 to $315.00 and set an “outperform” rating on the stock in a report on Tuesday, July 30th. Morgan Stanley upped their price objective on shares of McDonald’s from $296.00 to $340.00 and gave the company an “overweight” rating in a report on Tuesday, October 15th. Bank of America raised their price target on shares of McDonald’s from $308.00 to $322.00 and gave the company a “neutral” rating in a research report on Monday. Finally, Robert W. Baird cut shares of McDonald’s from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $320.00 to $290.00 in a research report on Wednesday. Twelve investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. Based on data from MarketBeat, McDonald’s currently has an average rating of “Moderate Buy” and an average target price of $318.22.

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.