Mattern Wealth Management LLC Sells 3,931 Shares of McDonald’s Co. (NYSE:MCD)

Mattern Wealth Management LLC trimmed its holdings in McDonald’s Co. (NYSE:MCD) by 29.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,634 shares of the fast-food giant’s stock after selling 3,931 shares during the quarter. Mattern Wealth Management LLC’s holdings in McDonald’s were worth $2,934,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the stock. Traphagen Investment Advisors LLC raised its position in shares of McDonald’s by 17.4% during the third quarter. Traphagen Investment Advisors LLC now owns 1,706 shares of the fast-food giant’s stock valued at $520,000 after buying an additional 253 shares during the last quarter. Calton & Associates Inc. bought a new position in McDonald’s in the third quarter worth about $200,000. Oakworth Capital Inc. increased its holdings in shares of McDonald’s by 13.1% during the third quarter. Oakworth Capital Inc. now owns 4,647 shares of the fast-food giant’s stock valued at $1,415,000 after acquiring an additional 538 shares in the last quarter. Foundations Investment Advisors LLC boosted its position in McDonald’s by 148.9% in the third quarter. Foundations Investment Advisors LLC now owns 31,777 shares of the fast-food giant’s stock valued at $9,676,000 after buying an additional 19,011 shares during the last quarter. Finally, Telos Capital Management Inc. boosted its position in McDonald’s by 1.5% in the 3rd quarter. Telos Capital Management Inc. now owns 22,313 shares of the fast-food giant’s stock worth $6,794,000 after purchasing an additional 319 shares in the last quarter. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Insider Transactions at McDonald’s

In other news, EVP Marion K. Gross sold 1,498 shares of the business’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 transaction of $428,967.28. Following the completion of the transaction, the executive vice president now directly owns 1,560 shares of the company’s stock, valued at $446,721.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Marion K. Gross sold 1,498 shares of the stock in a transaction 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 sale, 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 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 stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $300.03, for a total transaction of $3,518,451.81. Following the completion of the sale, the chief executive officer now directly owns 49,885 shares in the company, valued at approximately $14,966,996.55. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 32,998 shares of company stock worth $9,935,493. Corporate insiders own 0.23% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Argus raised McDonald’s from a “hold” rating to a “buy” rating in a research note on Tuesday, October 8th. Citigroup upped their price target on McDonald’s from $301.00 to $317.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. Jefferies Financial Group upped their price objective on McDonald’s from $310.00 to $330.00 and gave the company a “buy” rating in a research report on Monday, September 9th. BMO Capital Markets cut their price objective on McDonald’s from $330.00 to $315.00 and set an “outperform” rating on the stock in a report on Tuesday, July 30th. Finally, Bank of America raised their price objective on McDonald’s from $308.00 to $322.00 and gave the company a “neutral” rating in a research note on Monday. Ten analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $318.59.

McDonald’s Stock Down 0.3 %

MCD traded down $0.89 on Tuesday, hitting $314.00. The company’s stock had a trading volume of 543,503 shares, compared to its average volume of 3,338,326. The company’s 50 day simple moving average is $295.53 and its 200-day simple moving average is $274.01. McDonald’s Co. has a 12 month low of $243.53 and a 12 month high of $317.90. The firm has a market cap of $226.29 billion, a P/E ratio of 26.73, a price-to-earnings-growth ratio of 4.05 and a beta of 0.73.

McDonald’s (NYSE:MCD) last issued its earnings results on Monday, July 29th. The fast-food giant reported $2.97 EPS for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.10). McDonald’s had a negative return on equity of 178.68% and a net margin of 32.25%. The business had revenue of $6.49 billion during the quarter, compared to analysts’ expectations of $6.62 billion. During the same quarter in the previous year, the business earned $3.17 EPS. McDonald’s’s revenue for the quarter was down .1% compared to the same quarter last year. Equities analysts predict that McDonald’s Co. will post 11.71 earnings per share for the current fiscal year.

McDonald’s Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a $1.77 dividend. This represents a $7.08 annualized dividend and a dividend yield of 2.25%. The ex-dividend date of this dividend is Monday, December 2nd. This is an increase from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s dividend payout ratio is currently 60.10%.

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.