McDonald’s Co. (NYSE:MCD) Stock Holdings Trimmed by Bank of Marin

Bank of Marin lessened its position in shares of McDonald’s Co. (NYSE:MCD) by 8.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,716 shares of the fast-food giant’s stock after selling 250 shares during the period. Bank of Marin’s holdings in McDonald’s were worth $827,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Steigerwald Gordon & Koch Inc. grew its holdings in shares of McDonald’s by 2.4% during the third quarter. Steigerwald Gordon & Koch Inc. now owns 1,422 shares of the fast-food giant’s stock worth $433,000 after purchasing an additional 33 shares during the last quarter. Riversedge Advisors LLC raised its holdings in shares of McDonald’s by 2.0% in the third quarter. Riversedge Advisors LLC now owns 1,686 shares of the fast-food giant’s stock valued at $513,000 after buying an additional 33 shares during the last quarter. Proquility Private Wealth Partners LLC lifted its position in McDonald’s by 1.0% during the 3rd quarter. Proquility Private Wealth Partners LLC now owns 3,472 shares of the fast-food giant’s stock worth $1,057,000 after buying an additional 35 shares in the last quarter. Clear Creek Financial Management LLC grew its holdings in McDonald’s by 2.8% during the 3rd quarter. Clear Creek Financial Management LLC now owns 1,300 shares of the fast-food giant’s stock worth $396,000 after acquiring an additional 35 shares during the last quarter. Finally, GDS Wealth Management increased its position in McDonald’s by 1.4% in the 3rd quarter. GDS Wealth Management now owns 2,504 shares of the fast-food giant’s stock valued at $762,000 after acquiring an additional 35 shares in the last quarter. Institutional investors and hedge funds own 70.29% of the company’s stock.

McDonald’s Stock Performance

MCD stock traded down $0.70 during mid-day trading on Friday, hitting $297.86. 342,238 shares of the company were exchanged, compared to its average volume of 3,492,815. The firm has a market cap of $213.45 billion, a P/E ratio of 26.23, a P/E/G ratio of 3.95 and a beta of 0.74. McDonald’s Co. has a 1-year low of $243.53 and a 1-year high of $317.90. The firm’s 50 day simple moving average is $300.00 and its 200 day simple moving average is $277.29.

McDonald’s (NYSE:MCD) last issued its quarterly earnings data on Tuesday, October 29th. The fast-food giant reported $3.23 EPS for the quarter, topping 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 net margin of 31.79% and a negative return on equity of 175.42%. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period last year, the business posted $3.19 earnings per share. On average, equities research 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. Investors of record on Monday, December 2nd will be issued a dividend of $1.77 per share. The ex-dividend date is Monday, December 2nd. This is an increase 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 2.38%. McDonald’s’s dividend payout ratio (DPR) is presently 58.65%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on MCD. Argus raised shares of McDonald’s from a “hold” rating to a “buy” rating in a report on Tuesday, October 8th. BMO Capital Markets lifted their target price on McDonald’s from $315.00 to $335.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Bank of America upped their price target on McDonald’s from $321.00 to $324.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Loop Capital reiterated a “buy” rating on shares of McDonald’s in a research report on Friday, October 18th. Finally, The Goldman Sachs Group upped their target price on shares of McDonald’s from $284.00 to $325.00 and gave the company a “neutral” rating in a research report on Tuesday, September 24th. Thirteen research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $319.46.

Insider Activity at McDonald’s

In other 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 completion of the transaction, the insider now directly owns 12,583 shares of the company’s stock, valued at $3,632,712.10. This trade represents a 8.03 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Marion K. Gross sold 1,499 shares of the business’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $294.51, for a total transaction of $441,470.49. Following the completion of the sale, the executive vice president now directly owns 1,560 shares in the company, valued at approximately $459,435.60. This represents a 49.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 35,596 shares of company stock valued at $10,698,289. 0.23% of the stock is owned by insiders.

McDonald’s Company 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.