Concentric Capital Strategies LP Sells 10,602 Shares of McDonald’s Co. (NYSE:MCD)

Concentric Capital Strategies LP lessened its position in McDonald’s Co. (NYSE:MCD) by 67.5% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 5,107 shares of the fast-food giant’s stock after selling 10,602 shares during the period. Concentric Capital Strategies LP’s holdings in McDonald’s were worth $1,555,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Beacon Investment Advisory Services Inc. grew its position in shares of McDonald’s by 2.1% in the third quarter. Beacon Investment Advisory Services Inc. now owns 5,678 shares of the fast-food giant’s stock valued at $1,729,000 after purchasing an additional 115 shares during the last quarter. Benjamin Edwards Inc. grew its holdings in McDonald’s by 1,975.0% in the 3rd quarter. Benjamin Edwards Inc. now owns 204,636 shares of the fast-food giant’s stock valued at $62,339,000 after buying an additional 194,774 shares during the last quarter. Atom Investors LP acquired a new position in shares of McDonald’s during the third quarter worth approximately $938,000. Aureus Asset Management LLC lifted its holdings in shares of McDonald’s by 0.9% during the third quarter. Aureus Asset Management LLC now owns 13,943 shares of the fast-food giant’s stock worth $4,246,000 after buying an additional 124 shares during the last quarter. Finally, Paradigm Capital Management LLC NV bought a new stake in shares of McDonald’s in the third quarter valued at approximately $936,000. Institutional investors and hedge funds own 70.29% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Jefferies Financial Group upped their target price on shares of McDonald’s from $310.00 to $330.00 and gave the company a “buy” rating in a research note on Monday, September 9th. JPMorgan Chase & Co. increased their target price on shares of McDonald’s from $270.00 to $290.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Wells Fargo & Company lifted their target price on McDonald’s from $285.00 to $350.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Barclays raised their price objective on McDonald’s from $300.00 to $325.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 22nd. Finally, The Goldman Sachs Group boosted their price objective on McDonald’s from $284.00 to $325.00 and gave the company a “neutral” rating in a research report on Tuesday, September 24th. Thirteen research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $319.64.

McDonald’s Stock Performance

Shares of NYSE:MCD opened at $292.44 on Tuesday. The business has a fifty day moving average of $299.96 and a 200-day moving average of $279.04. The firm has a market cap of $209.57 billion, a PE ratio of 25.68, a price-to-earnings-growth ratio of 3.94 and a beta of 0.73. McDonald’s Co. has a twelve month low of $243.53 and a twelve month high of $317.90.

McDonald’s (NYSE:MCD) last announced its earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share 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 company had revenue of $6.87 billion during the quarter, compared to the consensus estimate of $6.82 billion. During the same period in the previous year, the firm posted $3.19 earnings per share. The company’s revenue was up 2.7% on a year-over-year basis. On average, analysts anticipate that McDonald’s Co. will post 11.77 EPS for the current fiscal 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 given a $1.77 dividend. This represents a $7.08 dividend on an annualized basis and a yield of 2.42%. This is a positive change from McDonald’s’s previous quarterly dividend of $1.67. The ex-dividend date of this dividend is Monday, December 2nd. McDonald’s’s dividend payout ratio (DPR) is presently 58.65%.

Insider Activity

In other news, insider Joseph M. Erlinger sold 1,099 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $292.50, for a total value of $321,457.50. Following the transaction, the insider now owns 9,286 shares of the company’s stock, valued at approximately $2,716,155. This trade represents a 10.58 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Ian Frederick Borden sold 5,939 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $300.04, for a total transaction of $1,781,937.56. Following the sale, the chief financial officer now directly owns 20,403 shares of the company’s stock, valued at approximately $6,121,716.12. This trade represents a 22.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,099 shares of company stock valued at $10,273,786. Company 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.