Alta Wealth Advisors LLC Has $668,000 Position in McDonald’s Co. (NYSE:MCD)

Alta Wealth Advisors LLC lessened its stake in shares of McDonald’s Co. (NYSE:MCD) by 7.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,194 shares of the fast-food giant’s stock after selling 164 shares during the period. Alta Wealth Advisors LLC’s holdings in McDonald’s were worth $668,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Perpetual Ltd acquired a new position in shares of McDonald’s in the 1st quarter valued at approximately $237,000. Douglas Lane & Associates LLC lifted its position in shares of McDonald’s by 12.0% during the 1st quarter. Douglas Lane & Associates LLC now owns 2,196 shares of the fast-food giant’s stock worth $619,000 after buying an additional 236 shares during the last quarter. International Assets Investment Management LLC grew its stake in shares of McDonald’s by 12.5% during the first quarter. International Assets Investment Management LLC now owns 8,249 shares of the fast-food giant’s stock worth $2,311,000 after buying an additional 916 shares during the last quarter. True North Advisors LLC raised its stake in shares of McDonald’s by 12.5% during the first quarter. True North Advisors LLC now owns 1,114 shares of the fast-food giant’s stock valued at $314,000 after acquiring an additional 124 shares during the last quarter. Finally, CHICAGO TRUST Co NA raised its stake in McDonald’s by 6.8% during the first quarter. CHICAGO TRUST Co NA now owns 10,985 shares of the fast-food giant’s stock worth $3,097,000 after buying an additional 702 shares during the last quarter. 70.29% of the stock is currently owned by institutional investors.

McDonald’s Price Performance

NYSE:MCD opened at $316.56 on Friday. The company has a market capitalization of $228.14 billion, a P/E ratio of 26.87, a P/E/G ratio of 4.05 and a beta of 0.73. The business has a fifty day simple moving average of $294.62 and a two-hundred day simple moving average of $273.70. McDonald’s Co. has a 1 year low of $243.53 and a 1 year high of $317.18.

McDonald’s (NYSE:MCD) last announced its quarterly earnings data on Monday, July 29th. The fast-food giant reported $2.97 earnings per share for the quarter, missing the consensus estimate of $3.07 by ($0.10). The firm had revenue of $6.49 billion during the quarter, compared to analysts’ expectations of $6.62 billion. McDonald’s had a negative return on equity of 178.68% and a net margin of 32.25%. The company’s revenue was down .1% compared to the same quarter last year. During the same period last year, the business posted $3.17 EPS. As a group, analysts anticipate that McDonald’s Co. will post 11.71 earnings per share for the current year.

McDonald’s Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a $1.77 dividend. This represents a $7.08 annualized dividend and a yield of 2.24%. This is an increase from McDonald’s’s previous quarterly dividend of $1.67. The ex-dividend date is Monday, December 2nd. McDonald’s’s dividend payout ratio (DPR) is presently 60.10%.

Insider Activity

In other news, CMO Edith Morgan Flatley sold 2,346 shares of the business’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $310.00, for a total transaction of $727,260.00. Following the completion of the transaction, the chief marketing officer now owns 2,905 shares of the company’s stock, valued at approximately $900,550. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other McDonald’s news, CEO Christopher J. Kempczinski sold 9,291 shares of the stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $305.00, for a total transaction of $2,833,755.00. Following the transaction, the chief executive officer now directly owns 43,256 shares in the company, valued at $13,193,080. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CMO Edith Morgan Flatley sold 2,346 shares of McDonald’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $310.00, for a total transaction of $727,260.00. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,097 shares of company stock worth $10,221,233 in the last three months. Corporate insiders own 0.23% of the company’s stock.

Wall Street Analysts Forecast Growth

MCD has been the subject of a number of research reports. Argus upgraded shares of McDonald’s from a “hold” rating to a “buy” rating in a report on Tuesday, October 8th. The Goldman Sachs Group boosted their target price on McDonald’s from $284.00 to $325.00 and gave the company a “neutral” rating in a research report on Tuesday, September 24th. KeyCorp raised their price objective on McDonald’s from $305.00 to $330.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. JPMorgan Chase & Co. upped their target price on McDonald’s from $270.00 to $290.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Finally, Robert W. Baird lifted their price target on shares of McDonald’s from $280.00 to $320.00 and gave the company an “outperform” rating in a research report on Thursday, September 26th. Ten equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $315.69.

McDonald’s Company 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.