Mill Creek Capital Advisors LLC Cuts Stake in McDonald’s Co. (NYSE:MCD)

Mill Creek Capital Advisors LLC reduced its position in shares of McDonald’s Co. (NYSE:MCD) by 22.1% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,012 shares of the fast-food giant’s stock after selling 853 shares during the quarter. Mill Creek Capital Advisors LLC’s holdings in McDonald’s were worth $917,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Hantz Financial Services Inc. purchased a new position in McDonald’s in the 2nd quarter worth approximately $6,612,000. Kennebec Savings Bank purchased a new position in shares of McDonald’s in the third quarter worth $1,394,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in shares of McDonald’s by 58.9% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 138,102 shares of the fast-food giant’s stock worth $35,194,000 after purchasing an additional 51,210 shares during the last quarter. U.S. Capital Wealth Advisors LLC lifted its holdings in shares of McDonald’s by 6.5% during the third quarter. U.S. Capital Wealth Advisors LLC now owns 49,186 shares of the fast-food giant’s stock valued at $14,978,000 after purchasing an additional 2,997 shares in the last quarter. Finally, Quintet Private Bank Europe S.A. boosted its position in shares of McDonald’s by 17.1% during the third quarter. Quintet Private Bank Europe S.A. now owns 49,318 shares of the fast-food giant’s stock valued at $15,018,000 after buying an additional 7,200 shares during the last quarter. 70.29% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have issued reports on MCD. KeyCorp upped their target price on shares of 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. increased their price objective 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. Citigroup lifted their target price on shares of McDonald’s from $301.00 to $317.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. The Goldman Sachs Group increased their price target on McDonald’s from $284.00 to $325.00 and gave the company a “neutral” rating in a report on Tuesday, September 24th. Finally, Evercore ISI lifted their price objective on McDonald’s from $320.00 to $340.00 and gave the stock an “outperform” rating in a report on Tuesday, October 15th. Thirteen analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $319.46.

Insider Buying and Selling at McDonald’s

In related news, insider Joseph M. Erlinger sold 1,098 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $288.70, for a total value of $316,992.60. Following the sale, the insider now directly owns 12,583 shares in the company, valued at approximately $3,632,712.10. The trade was a 8.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Marion K. Gross sold 1,498 shares of the firm’s stock in a transaction that occurred on 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 $446,721.60. This represents a 48.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 35,596 shares of company stock valued at $10,698,289 in the last 90 days. Insiders own 0.23% of the company’s stock.

McDonald’s Trading Down 2.0 %

NYSE:MCD opened at $292.63 on Friday. The stock has a 50-day moving average price of $300.06 and a 200 day moving average price of $277.46. The stock has a market capitalization of $209.70 billion, a P/E ratio of 25.69, a P/E/G ratio of 3.89 and a beta of 0.74. McDonald’s Co. has a 12-month low of $243.53 and a 12-month high of $317.90.

McDonald’s (NYSE:MCD) last announced its quarterly earnings data on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.18 by $0.05. McDonald’s had a net margin of 31.79% and a negative return on equity of 175.42%. The business had revenue of $6.87 billion during the quarter, compared to analyst estimates of $6.82 billion. During the same period last year, the firm posted $3.19 EPS. The company’s revenue was up 2.7% on a year-over-year basis. On average, research analysts predict that McDonald’s Co. will post 11.77 earnings per share for the current fiscal year.

McDonald’s Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a $1.77 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $7.08 annualized dividend and a yield of 2.42%. This is a boost from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s payout ratio is presently 58.65%.

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.