Primoris Wealth Advisors LLC Sells 99 Shares of McDonald’s Co. (NYSE:MCD)

Primoris Wealth Advisors LLC trimmed its position in McDonald’s Co. (NYSE:MCD) by 4.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,251 shares of the fast-food giant’s stock after selling 99 shares during the period. Primoris Wealth Advisors LLC’s holdings in McDonald’s were worth $685,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Hara Capital LLC bought a new stake in shares of McDonald’s during the 3rd quarter valued at about $44,000. Kings Path Partners LLC purchased a new stake in shares of McDonald’s during the 2nd quarter valued at $38,000. Opal Wealth Advisors LLC bought a new stake in shares of McDonald’s during the 2nd quarter worth $59,000. Bbjs Financial Advisors LLC bought a new position in McDonald’s in the second quarter valued at $65,000. Finally, Macroview Investment Management LLC raised its position in McDonald’s by 433.3% during the second quarter. Macroview Investment Management LLC now owns 256 shares of the fast-food giant’s stock valued at $65,000 after purchasing an additional 208 shares in the last quarter. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Christopher J. Kempczinski sold 11,727 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 49,885 shares of the company’s stock, valued at $14,966,996.55. 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 McDonald’s news, 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 transaction, the chief executive officer now directly 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Marion K. Gross sold 1,498 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $286.36, for a total transaction of $428,967.28. Following the sale, 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 position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 35,596 shares of company stock worth $10,698,289. 0.23% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have recently commented on MCD shares. BMO Capital Markets increased their price objective on McDonald’s from $315.00 to $335.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Argus upgraded shares of McDonald’s from a “hold” rating to a “buy” rating in a research report on Tuesday, October 8th. Guggenheim lowered shares of McDonald’s from a “buy” rating to a “neutral” rating and cut their price target for the company from $290.00 to $285.00 in a research report on Wednesday, October 23rd. Bank of America increased their target price on McDonald’s from $321.00 to $324.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Finally, Loop Capital reaffirmed a “buy” rating on shares of McDonald’s in a research note on Friday, October 18th. Thirteen investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat, McDonald’s presently has an average rating of “Moderate Buy” and a consensus target price of $319.46.

McDonald’s Trading Up 1.5 %

McDonald’s stock traded up $4.31 during mid-day trading on Friday, hitting $298.97. The company had a trading volume of 3,279,284 shares, compared to its average volume of 4,858,855. McDonald’s Co. has a 12 month low of $243.53 and a 12 month high of $317.90. The stock’s 50 day moving average price is $299.08 and its two-hundred day moving average price is $276.64. The company has a market capitalization of $214.46 billion, a PE ratio of 26.25, a price-to-earnings-growth ratio of 3.91 and a beta of 0.74.

McDonald’s (NYSE:MCD) last issued its earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.18 by $0.05. McDonald’s had a net margin of 31.79% and a negative return on equity of 178.99%. The business had revenue of $6.87 billion during the quarter, compared to analysts’ expectations of $6.82 billion. During the same period in the previous year, the company earned $3.19 earnings per share. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. Equities research analysts anticipate that McDonald’s Co. will post 11.77 EPS for the current year.

McDonald’s Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a dividend of $1.77 per share. The ex-dividend date is Monday, December 2nd. This is a boost from McDonald’s’s previous quarterly dividend of $1.67. This represents a $7.08 annualized dividend and a dividend yield of 2.37%. McDonald’s’s dividend payout ratio (DPR) is 58.65%.

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.