McDonald’s Co. (NYSE:MCD) Shares Sold by Reynders McVeigh Capital Management LLC

Reynders McVeigh Capital Management LLC trimmed its position in McDonald’s Co. (NYSE:MCD) by 1.2% in the third quarter, HoldingsChannel.com reports. The firm owned 12,558 shares of the fast-food giant’s stock after selling 150 shares during the quarter. Reynders McVeigh Capital Management LLC’s holdings in McDonald’s were worth $3,824,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC boosted its stake in shares of McDonald’s by 31,151.1% during the 3rd 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 in the last quarter. Caisse DE Depot ET Placement DU Quebec increased its position in shares of McDonald’s by 542.9% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 801,858 shares of the fast-food giant’s stock worth $244,174,000 after acquiring an additional 677,139 shares in the last quarter. Mondrian Investment Partners LTD purchased a new position in shares of McDonald’s in the second quarter worth approximately $110,321,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of McDonald’s in the third quarter worth approximately $121,254,000. Finally, Ameriprise Financial Inc. increased its position in shares of McDonald’s by 8.0% in the second quarter. Ameriprise Financial Inc. now owns 4,761,625 shares of the fast-food giant’s stock worth $1,216,677,000 after acquiring an additional 354,196 shares in the last quarter. 70.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Evercore ISI lifted their target price on shares of McDonald’s from $320.00 to $340.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 15th. KeyCorp boosted their price objective on shares of McDonald’s from $305.00 to $330.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Robert W. Baird downgraded shares of McDonald’s from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $320.00 to $290.00 in a research report on Wednesday, October 23rd. The Goldman Sachs Group boosted their price objective on shares of McDonald’s from $284.00 to $325.00 and gave the company a “neutral” rating in a research report on Tuesday, September 24th. Finally, Morgan Stanley boosted their target price on shares of McDonald’s from $296.00 to $340.00 and gave the stock an “overweight” rating in a research 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. According to data from MarketBeat.com, McDonald’s has an average rating of “Moderate Buy” and an average target price of $319.64.

McDonald’s Stock Performance

MCD opened at $294.50 on Wednesday. The firm’s 50-day simple moving average is $299.72 and its 200-day simple moving average is $279.33. McDonald’s Co. has a twelve month low of $243.53 and a twelve month high of $317.90. The firm has a market cap of $211.04 billion, a price-to-earnings ratio of 25.86, a PEG ratio of 3.89 and a beta of 0.73.

McDonald’s (NYSE:MCD) last issued its quarterly earnings data on Tuesday, October 29th. The fast-food giant reported $3.23 EPS for the quarter, topping 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 firm had revenue of $6.87 billion for the quarter, compared to analyst estimates of $6.82 billion. During the same quarter in the prior year, the firm earned $3.19 EPS. The company’s revenue was up 2.7% on a year-over-year basis. As a group, sell-side analysts anticipate that McDonald’s Co. will post 11.77 EPS for the current fiscal year.

McDonald’s Increases Dividend

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

Insiders Place Their Bets

In other McDonald’s news, CMO Edith Morgan Flatley sold 2,346 shares of the company’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 directly owns 2,905 shares in the company, valued at approximately $900,550. This represents a 44.68 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Joseph M. Erlinger sold 1,099 shares of the stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $298.57, for a total transaction of $328,128.43. Following the completion of the sale, the insider now owns 11,484 shares in the company, valued at $3,428,777.88. This represents a 8.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 34,099 shares of company stock valued at $10,273,786 in the last 90 days. 0.23% of the stock is currently owned by insiders.

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.