Principal Financial Group Inc. Sells 43,538 Shares of McDonald’s Co. (NYSE:MCD)

Principal Financial Group Inc. decreased its position in McDonald’s Co. (NYSE:MCD) by 4.9% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 843,126 shares of the fast-food giant’s stock after selling 43,538 shares during the quarter. Principal Financial Group Inc.’s holdings in McDonald’s were worth $256,740,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Steigerwald Gordon & Koch Inc. grew its position in McDonald’s by 2.4% during the third quarter. Steigerwald Gordon & Koch Inc. now owns 1,422 shares of the fast-food giant’s stock valued at $433,000 after buying an additional 33 shares during the period. Riversedge Advisors LLC grew its position in shares of McDonald’s by 2.0% during the 3rd quarter. Riversedge Advisors LLC now owns 1,686 shares of the fast-food giant’s stock valued at $513,000 after acquiring an additional 33 shares during the period. Proquility Private Wealth Partners LLC grew its position in shares of McDonald’s by 1.0% during the 3rd quarter. Proquility Private Wealth Partners LLC now owns 3,472 shares of the fast-food giant’s stock valued at $1,057,000 after acquiring an additional 35 shares during the period. Clear Creek Financial Management LLC increased its stake in shares of McDonald’s by 2.8% in the 3rd quarter. Clear Creek Financial Management LLC now owns 1,300 shares of the fast-food giant’s stock worth $396,000 after purchasing an additional 35 shares in the last quarter. Finally, Founders Financial Alliance LLC lifted its position in McDonald’s by 0.7% during the second quarter. Founders Financial Alliance LLC now owns 4,980 shares of the fast-food giant’s stock valued at $1,269,000 after purchasing an additional 36 shares in the last quarter. 70.29% of the stock is currently owned by institutional investors.

McDonald’s Trading Up 0.2 %

Shares of NYSE MCD opened at $294.68 on Friday. McDonald’s Co. has a 12-month low of $243.53 and a 12-month high of $317.90. The firm’s 50-day moving average price is $298.74 and its 200-day moving average price is $276.35. The stock has a market capitalization of $211.39 billion, a price-to-earnings ratio of 25.87, a P/E/G ratio of 3.89 and a beta of 0.74.

McDonald’s (NYSE:MCD) last posted its quarterly earnings data on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.18 by $0.05. The business had revenue of $6.87 billion during the quarter, compared to analyst estimates of $6.82 billion. McDonald’s had a negative return on equity of 178.99% and a net margin of 31.79%. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period last year, the company earned $3.19 EPS. On average, equities analysts predict that McDonald’s Co. will post 11.77 EPS for the current fiscal year.

McDonald’s Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a dividend of $1.77 per share. The ex-dividend date is Monday, December 2nd. This is a boost from McDonald’s’s previous quarterly dividend of $1.67. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.40%. McDonald’s’s payout ratio is currently 62.16%.

Wall Street Analysts Forecast Growth

MCD has been the topic of several recent research reports. The Goldman Sachs Group raised their price objective on McDonald’s from $284.00 to $325.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 24th. Robert W. Baird cut shares of McDonald’s from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $320.00 to $290.00 in a research note on Wednesday, October 23rd. Loop Capital reiterated a “buy” rating on shares of McDonald’s in a research report on Friday, October 18th. Tigress Financial raised their price objective on shares of McDonald’s from $355.00 to $360.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Finally, TD Cowen reaffirmed a “hold” rating and issued a $300.00 target price on shares of McDonald’s in a report on Tuesday, October 29th. Thirteen equities research analysts have rated the stock with a hold rating and eighteen have given 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 an average price target of $319.46.

Insider Buying and Selling

In other news, CEO Christopher J. Kempczinski sold 11,727 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $300.03, for a total transaction of $3,518,451.81. Following the transaction, the chief executive officer now owns 49,885 shares of the company’s stock, valued at approximately $14,966,996.55. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, 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 transaction, the insider now directly owns 12,583 shares of the company’s stock, valued at approximately $3,632,712.10. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Christopher J. Kempczinski sold 11,727 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $300.03, for a total value of $3,518,451.81. Following the completion of the sale, the chief executive officer now owns 49,885 shares of the company’s stock, valued at $14,966,996.55. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 35,596 shares of company stock valued at $10,698,289 in the last ninety days. 0.23% of the stock is owned by company insiders.

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.