McDonald’s Co. (NYSE:MCD) Shares Sold by King Wealth Management Group

King Wealth Management Group cut its holdings in McDonald’s Co. (NYSE:MCD) by 2.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 39,947 shares of the fast-food giant’s stock after selling 1,124 shares during the period. McDonald’s comprises approximately 1.9% of King Wealth Management Group’s holdings, making the stock its 14th biggest position. King Wealth Management Group’s holdings in McDonald’s were worth $12,164,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the business. Hantz Financial Services Inc. acquired a new stake in shares of McDonald’s during the 2nd quarter worth approximately $6,612,000. Kennebec Savings Bank bought a new position in McDonald’s during the 3rd quarter worth $1,394,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in McDonald’s by 58.9% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 138,102 shares of the fast-food giant’s stock worth $35,194,000 after buying an additional 51,210 shares during the period. U.S. Capital Wealth Advisors LLC lifted its stake in McDonald’s by 6.5% in the third quarter. U.S. Capital Wealth Advisors LLC now owns 49,186 shares of the fast-food giant’s stock valued at $14,978,000 after buying an additional 2,997 shares during the last quarter. Finally, Quintet Private Bank Europe S.A. boosted its holdings in shares of McDonald’s by 17.1% during the third quarter. Quintet Private Bank Europe S.A. now owns 49,318 shares of the fast-food giant’s stock valued at $15,018,000 after acquiring an additional 7,200 shares during the period. Institutional investors own 70.29% of the company’s stock.

McDonald’s Stock Up 0.4 %

Shares of MCD opened at $298.56 on Friday. The stock’s 50-day moving average price is $299.79 and its 200 day moving average price is $277.14. McDonald’s Co. has a 12-month low of $243.53 and a 12-month high of $317.90. The firm has a market capitalization of $213.95 billion, a price-to-earnings ratio of 26.21, a P/E/G ratio of 3.95 and a beta of 0.74.

McDonald’s (NYSE:MCD) last issued its quarterly earnings data on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.18 by $0.05. McDonald’s had a negative return on equity of 175.42% and a net margin of 31.79%. The company had revenue of $6.87 billion during the quarter, compared to analysts’ expectations of $6.82 billion. During the same period last year, the business earned $3.19 earnings per share. The business’s revenue was up 2.7% on a year-over-year basis. Equities research analysts expect that McDonald’s Co. will post 11.77 EPS for the current 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 paid a dividend of $1.77 per share. This represents a $7.08 annualized dividend and a yield of 2.37%. This is a boost from McDonald’s’s previous quarterly dividend of $1.67. The ex-dividend date is Monday, December 2nd. McDonald’s’s dividend payout ratio is currently 58.65%.

Insider Transactions at McDonald’s

In other McDonald’s news, insider Joseph M. Erlinger sold 1,098 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $288.70, for a total transaction of $316,992.60. Following the sale, the insider now directly owns 12,583 shares in the company, valued at approximately $3,632,712.10. This trade represents a 8.03 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 owns 49,885 shares of the company’s stock, valued at approximately $14,966,996.55. The trade was a 19.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 35,596 shares of company stock valued at $10,698,289. Corporate insiders own 0.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on MCD shares. Wedbush reiterated an “outperform” rating and issued a $295.00 price objective on shares of McDonald’s in a research report on Wednesday, October 23rd. Morgan Stanley raised their target price on McDonald’s from $296.00 to $340.00 and gave the company an “overweight” rating in a research report on Tuesday, October 15th. 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. TD Cowen reaffirmed a “hold” rating and issued a $300.00 price objective on shares of McDonald’s in a report on Tuesday, October 29th. Finally, Guggenheim downgraded shares of McDonald’s from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $290.00 to $285.00 in a research report on Wednesday, October 23rd. Thirteen equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat, McDonald’s presently has an average 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.