Providence Wealth Advisors LLC Has $373,000 Stock Position in McDonald’s Co. (NYSE:MCD)

Providence Wealth Advisors LLC lowered its stake in shares of McDonald’s Co. (NYSE:MCD) by 16.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,244 shares of the fast-food giant’s stock after selling 248 shares during the period. Providence Wealth Advisors LLC’s holdings in McDonald’s were worth $373,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Legal & General Group Plc raised its holdings in shares of McDonald’s by 3.2% during the second quarter. Legal & General Group Plc now owns 6,149,080 shares of the fast-food giant’s stock valued at $1,567,030,000 after purchasing an additional 188,888 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of McDonald’s by 0.9% during 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 period. Ameriprise Financial Inc. raised its holdings in shares of McDonald’s by 8.0% during the second quarter. Ameriprise Financial Inc. now owns 4,761,625 shares of the fast-food giant’s stock valued at $1,216,677,000 after purchasing an additional 354,196 shares during the period. International Assets Investment Management LLC raised its holdings in shares of McDonald’s by 31,151.1% during the third quarter. International Assets Investment Management LLC now owns 2,319,142 shares of the fast-food giant’s stock valued at $706,202,000 after purchasing an additional 2,311,721 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of McDonald’s by 1.1% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,015,441 shares of the fast-food giant’s stock worth $613,722,000 after acquiring an additional 22,780 shares during the last quarter. Institutional investors and hedge funds own 70.29% of the company’s stock.

McDonald’s Trading Down 0.4 %

MCD opened at $295.08 on Friday. The company has a 50 day moving average of $299.98 and a 200 day moving average of $278.78. The company has a market cap of $211.46 billion, a PE ratio of 25.91, a price-to-earnings-growth ratio of 3.92 and a beta of 0.74. McDonald’s Co. has a 12 month low of $243.53 and a 12 month high of $317.90.

McDonald’s (NYSE:MCD) last released its quarterly earnings data on Tuesday, October 29th. The fast-food giant reported $3.23 EPS for the quarter, topping the consensus estimate of $3.18 by $0.05. The company had revenue of $6.87 billion during the quarter, compared to the consensus estimate of $6.82 billion. McDonald’s had a net margin of 31.79% and a negative return on equity of 175.42%. McDonald’s’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period last year, the firm earned $3.19 EPS. Research analysts forecast that McDonald’s Co. will post 11.77 earnings per share for the current fiscal 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 issued a $1.77 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This is an increase from McDonald’s’s previous quarterly dividend of $1.67. This represents a $7.08 annualized dividend and a yield of 2.40%. McDonald’s’s dividend payout ratio (DPR) is 58.65%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on MCD shares. Morgan Stanley upped their target price on shares of McDonald’s from $296.00 to $340.00 and gave the stock an “overweight” rating in a report on Tuesday, October 15th. Bank of America upped their target price on shares of McDonald’s from $321.00 to $324.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Jefferies Financial Group upped their target price on shares of McDonald’s from $310.00 to $330.00 and gave the stock a “buy” rating in a report on Monday, September 9th. Baird R W lowered shares of McDonald’s from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Finally, Loop Capital restated a “buy” rating on shares of McDonald’s in a report on Friday, October 18th. Thirteen investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat, McDonald’s presently has a consensus rating of “Moderate Buy” and an average price target of $319.46.

Insider Buying and Selling

In other McDonald’s news, insider Joseph M. Erlinger sold 1,099 shares of the stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $298.57, for a total value of $328,128.43. Following the sale, the insider now directly owns 11,484 shares in the company, valued at $3,428,777.88. This represents a 8.73 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Marion K. Gross sold 1,498 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $286.36, for a total transaction of $428,967.28. Following the completion of the sale, the executive vice president now owns 1,560 shares in the company, valued at $446,721.60. This represents a 48.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 35,597 shares of company stock valued at $10,702,754. 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.