McDonald’s Co. (NYSE:MCD) Shares Sold by Congress Asset Management Co.

Congress Asset Management Co. cut its stake in McDonald’s Co. (NYSE:MCD) by 0.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 46,771 shares of the fast-food giant’s stock after selling 79 shares during the period. Congress Asset Management Co.’s holdings in McDonald’s were worth $14,242,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Palumbo Wealth Management LLC raised its position in shares of McDonald’s by 1.8% during the 3rd quarter. Palumbo Wealth Management LLC now owns 8,074 shares of the fast-food giant’s stock worth $2,459,000 after buying an additional 145 shares in the last quarter. Austin Wealth Management LLC acquired a new position in shares of McDonald’s during the third quarter valued at approximately $232,000. Nikulski Financial Inc. raised its holdings in McDonald’s by 0.9% during the third quarter. Nikulski Financial Inc. now owns 12,301 shares of the fast-food giant’s stock worth $3,746,000 after purchasing an additional 109 shares in the last quarter. Bank Hapoalim BM acquired a new stake in McDonald’s in the third quarter worth approximately $1,707,000. Finally, Tilson Financial Group Inc. acquired a new position in shares of McDonald’s during the 3rd quarter valued at $750,000. 70.29% of the stock is currently owned by institutional investors.

Insider Activity

In other McDonald’s news, EVP Marion K. Gross sold 1,498 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $286.36, for a total transaction of $428,967.28. Following the transaction, the executive vice president now owns 1,560 shares of the company’s stock, valued at approximately $446,721.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Marion K. Gross sold 1,498 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $286.36, for a total value of $428,967.28. Following the transaction, the executive vice president now owns 1,560 shares of the company’s stock, valued at approximately $446,721.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Joseph M. Erlinger sold 1,098 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $288.70, for a total transaction of $316,992.60. Following the completion of the transaction, the insider now directly owns 12,583 shares in the company, 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 34,097 shares of company stock valued at $10,256,818 over the last three months. 0.23% of the stock is owned by insiders.

McDonald’s Price Performance

Shares of MCD stock opened at $292.17 on Friday. The stock’s fifty day simple moving average is $298.25 and its 200 day simple moving average is $275.58. McDonald’s Co. has a one year low of $243.53 and a one year high of $317.90. The firm has a market cap of $209.59 billion, a price-to-earnings ratio of 25.65, a P/E/G ratio of 3.85 and a beta of 0.73.

McDonald’s (NYSE:MCD) last announced its earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 EPS for the quarter, topping the consensus estimate of $3.18 by $0.05. McDonald’s had a negative return on equity of 178.99% and a net margin of 31.79%. The company had revenue of $6.87 billion for the quarter, compared to analysts’ expectations of $6.82 billion. During the same quarter in the prior year, the business earned $3.19 earnings per share. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. On average, research analysts anticipate that McDonald’s Co. will post 11.78 earnings per share for the current year.

McDonald’s Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a dividend of $1.77 per share. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.42%. 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. McDonald’s’s dividend payout ratio is presently 58.65%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on MCD shares. Morgan Stanley raised their target price on McDonald’s from $296.00 to $340.00 and gave the company an “overweight” rating in a research note on Tuesday, October 15th. BMO Capital Markets boosted their target price on shares of McDonald’s from $315.00 to $335.00 and gave the stock an “outperform” rating in a report on Wednesday. Barclays raised their target price on shares of McDonald’s from $300.00 to $325.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. Robert W. Baird downgraded McDonald’s from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $320.00 to $290.00 in a report on Wednesday, October 23rd. Finally, Loop Capital restated a “buy” rating on shares of McDonald’s in a report on Friday, October 18th. Thirteen equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $319.46.

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.