Woodmont Investment Counsel LLC Trims Stake in McDonald’s Co. (NYSE:MCD)

Woodmont Investment Counsel LLC lessened its holdings in shares of McDonald’s Co. (NYSE:MCD) by 5.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,003 shares of the fast-food giant’s stock after selling 753 shares during the quarter. Woodmont Investment Counsel LLC’s holdings in McDonald’s were worth $4,264,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Kings Path Partners LLC purchased a new stake in McDonald’s in the second quarter worth about $38,000. Opal Wealth Advisors LLC bought a new stake in McDonald’s during the 2nd quarter worth approximately $59,000. Bbjs Financial Advisors LLC purchased a new position in McDonald’s during the second quarter valued at approximately $65,000. Macroview Investment Management LLC boosted its position in shares of McDonald’s by 433.3% in the second quarter. Macroview Investment Management LLC now owns 256 shares of the fast-food giant’s stock worth $65,000 after purchasing an additional 208 shares during the period. Finally, Unique Wealth Strategies LLC bought a new stake in shares of McDonald’s during the 2nd quarter valued at $81,000. Institutional investors own 70.29% of the company’s stock.

Insider Activity

In other news, CEO Christopher J. Kempczinski sold 11,727 shares of the stock in a transaction dated 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 transaction, the chief executive officer now directly owns 49,885 shares of the company’s stock, valued at approximately $14,966,996.55. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Christopher J. Kempczinski sold 9,291 shares of the firm’s stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $305.00, for a total transaction of $2,833,755.00. Following the sale, the chief executive officer now directly owns 43,256 shares of the company’s stock, valued at $13,193,080. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Christopher J. Kempczinski sold 11,727 shares of the firm’s stock in a transaction dated 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 directly owns 49,885 shares in the company, valued at approximately $14,966,996.55. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 35,596 shares of company stock valued at $10,698,289. Company insiders own 0.23% of the company’s stock.

McDonald’s Stock Performance

McDonald’s stock opened at $294.00 on Thursday. The stock has a 50-day moving average of $298.74 and a two-hundred day moving average of $276.35. McDonald’s Co. has a one year low of $243.53 and a one year high of $317.90. The stock has a market cap of $210.90 billion, a PE ratio of 25.81, a price-to-earnings-growth ratio of 3.89 and a beta of 0.74.

McDonald’s (NYSE:MCD) last announced 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 business had revenue of $6.87 billion for the quarter, compared to analyst estimates of $6.82 billion. McDonald’s had a negative return on equity of 178.99% and a net margin of 31.79%. The company’s revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the company earned $3.19 earnings per share. As a group, sell-side analysts predict 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. Stockholders of record on Monday, December 2nd will be issued a $1.77 dividend. The ex-dividend date of this dividend 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 dividend yield of 2.41%. McDonald’s’s dividend payout ratio is currently 62.16%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. UBS Group raised their price target on McDonald’s from $305.00 to $345.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Jefferies Financial Group increased their price target on shares of McDonald’s from $310.00 to $330.00 and gave the company a “buy” rating in a report on Monday, September 9th. The Goldman Sachs Group increased their target price on shares of McDonald’s from $284.00 to $325.00 and gave the company a “neutral” rating in a research note on Tuesday, September 24th. Baird R W cut shares of McDonald’s from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Finally, Loop Capital reiterated a “buy” rating on shares of McDonald’s in a report on Friday, October 18th. Thirteen analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat, McDonald’s presently has a consensus rating of “Moderate Buy” and a consensus target price of $319.46.

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.