Folger Nolan Fleming Douglas Capital Management Inc. lowered its stake in shares of McDonald’s Co. (NYSE:MCD – Free Report) by 0.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 54,300 shares of the fast-food giant’s stock after selling 238 shares during the quarter. McDonald’s makes up approximately 1.6% of Folger Nolan Fleming Douglas Capital Management Inc.’s holdings, making the stock its 14th biggest holding. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in McDonald’s were worth $16,535,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC increased its position in McDonald’s by 31,151.1% in the third quarter. International Assets Investment Management LLC now owns 2,319,142 shares of the fast-food giant’s stock worth $706,202,000 after purchasing an additional 2,311,721 shares during the period. Capital Research Global Investors raised its position in shares of McDonald’s by 66.9% during the 1st quarter. Capital Research Global Investors now owns 5,471,007 shares of the fast-food giant’s stock valued at $1,542,550,000 after acquiring an additional 2,193,769 shares during the last quarter. Swedbank AB bought a new position in McDonald’s during the first quarter worth about $348,206,000. Capital World Investors grew its holdings in McDonald’s by 39.7% during the first quarter. Capital World Investors now owns 3,565,398 shares of the fast-food giant’s stock valued at $1,005,264,000 after purchasing an additional 1,012,534 shares during the period. Finally, Mondrian Investment Partners LTD bought a new stake in McDonald’s in the second quarter valued at approximately $110,321,000. Institutional investors and hedge funds own 70.29% of the company’s stock.
Insider Transactions at McDonald’s
In related news, insider Joseph M. Erlinger sold 1,099 shares of the business’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $292.38, for a total value of $321,325.62. Following the completion of the transaction, the insider now owns 10,385 shares of the company’s stock, valued at $3,036,366.30. 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 through this link. In other McDonald’s news, CEO Christopher J. Kempczinski sold 11,727 shares of the firm’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $300.03, for a total value of $3,518,451.81. Following the sale, the chief executive officer now owns 49,885 shares of the company’s stock, valued at approximately $14,966,996.55. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Joseph M. Erlinger sold 1,099 shares of the business’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $292.38, for a total value of $321,325.62. Following the transaction, the insider now directly owns 10,385 shares of the company’s stock, valued at $3,036,366.30. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,097 shares of company stock valued at $10,256,818. 0.23% of the stock is owned by corporate insiders.
McDonald’s Stock Performance
McDonald’s (NYSE:MCD – Get Free Report) last announced its earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.18 by $0.05. McDonald’s had a net margin of 32.25% and a negative return on equity of 178.68%. 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 business posted $3.19 EPS. The business’s revenue was up 2.7% compared to the same quarter last year. Equities research analysts predict that McDonald’s Co. will post 11.73 earnings per share for the current fiscal year.
McDonald’s Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a dividend of $1.77 per share. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.43%. This is an increase 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 is presently 61.94%.
Analysts Set New Price Targets
A number of equities analysts have recently weighed in on the stock. The Goldman Sachs Group lifted their price target on shares of McDonald’s from $284.00 to $325.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 24th. Robert W. Baird cut McDonald’s from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $320.00 to $290.00 in a research report on Wednesday, October 23rd. TD Cowen reiterated a “hold” rating and issued a $300.00 price target on shares of McDonald’s in a research note on Tuesday. Morgan Stanley increased their price target on McDonald’s from $296.00 to $340.00 and gave the company an “overweight” rating in a research report on Tuesday, October 15th. Finally, Tigress Financial upped their price objective on McDonald’s from $355.00 to $360.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Thirteen equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $318.74.
View Our Latest Stock Report on MCD
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.
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