McDonald’s Co. (NYSE:MCD) Shares Sold by Iron Gate Global Advisors LLC

Iron Gate Global Advisors LLC lessened its holdings in McDonald’s Co. (NYSE:MCD) by 0.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,849 shares of the fast-food giant’s stock after selling 65 shares during the quarter. McDonald’s makes up about 0.3% of Iron Gate Global Advisors LLC’s holdings, making the stock its 28th largest position. Iron Gate Global Advisors LLC’s holdings in McDonald’s were worth $2,086,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Kennebec Savings Bank purchased a new stake in McDonald’s during the third quarter worth approximately $1,394,000. Hantz Financial Services Inc. purchased a new stake in shares of McDonald’s during the 2nd quarter worth about $6,612,000. Charles Schwab Investment Management Inc. grew its position in shares of McDonald’s by 0.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,564,359 shares of the fast-food giant’s stock valued at $1,694,403,000 after purchasing an additional 49,106 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in shares of McDonald’s by 58.9% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 138,102 shares of the fast-food giant’s stock worth $35,194,000 after acquiring an additional 51,210 shares during the period. Finally, U.S. Capital Wealth Advisors LLC raised its holdings in shares of McDonald’s by 6.5% in 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 buying an additional 2,997 shares during the last quarter. 70.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MCD has been the topic of several analyst reports. Wedbush reaffirmed an “outperform” rating and set a $295.00 price target on shares of McDonald’s in a research report on Wednesday, October 23rd. Wells Fargo & Company boosted their price objective on shares of McDonald’s from $285.00 to $350.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. BMO Capital Markets upped their price objective on shares of McDonald’s from $315.00 to $335.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Tigress Financial boosted their price target on McDonald’s from $355.00 to $360.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Finally, Loop Capital reaffirmed a “buy” rating on shares of McDonald’s in a report on Friday, October 18th. Thirteen research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $319.64.

McDonald’s Stock Performance

McDonald’s stock opened at $292.44 on Tuesday. The stock has a market capitalization of $209.57 billion, a P/E ratio of 25.68, a price-to-earnings-growth ratio of 3.94 and a beta of 0.73. McDonald’s Co. has a 52 week low of $243.53 and a 52 week high of $317.90. The stock has a fifty day moving average of $299.96 and a 200-day moving average of $279.04.

McDonald’s (NYSE:MCD) last released its quarterly earnings data on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share for the quarter, beating analysts’ consensus estimates of $3.18 by $0.05. The firm 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 175.42% and a net margin of 31.79%. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.19 earnings per share. On average, research analysts forecast that McDonald’s Co. will post 11.77 earnings per share for the current year.

McDonald’s Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders 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 positive change from McDonald’s’s previous quarterly dividend of $1.67. This represents a $7.08 dividend on an annualized basis and a yield of 2.42%. McDonald’s’s dividend payout ratio is currently 58.65%.

Insider Activity at McDonald’s

In other McDonald’s news, CMO Edith Morgan Flatley sold 2,346 shares of McDonald’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $310.00, for a total value of $727,260.00. Following the completion of the sale, the chief marketing officer now directly owns 2,905 shares of the company’s stock, valued at approximately $900,550. The trade was a 44.68 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Christopher J. Kempczinski sold 11,727 shares of the business’s stock in a transaction dated 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 in the company, valued at $14,966,996.55. This represents a 19.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 34,099 shares of company stock valued at $10,273,786. Insiders own 0.23% of the company’s stock.

About McDonald’s

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.