Miramar Capital LLC Lowers Stock Holdings in McDonald’s Co. (NYSE:MCD)

Miramar Capital LLC lessened its position in shares of McDonald’s Co. (NYSE:MCD) by 0.4% during the third quarter, HoldingsChannel.com reports. The fund owned 53,491 shares of the fast-food giant’s stock after selling 200 shares during the period. McDonald’s makes up approximately 3.8% of Miramar Capital LLC’s holdings, making the stock its 9th largest holding. Miramar Capital LLC’s holdings in McDonald’s were worth $16,289,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently modified their holdings of MCD. Kings Path Partners LLC purchased a new position in McDonald’s in the 2nd quarter worth approximately $38,000. Hara Capital LLC bought a new position in McDonald’s in the third quarter worth $44,000. Opal Wealth Advisors LLC bought a new stake in McDonald’s during the second quarter worth about $59,000. Bbjs Financial Advisors LLC bought a new position in McDonald’s during the 2nd quarter valued at approximately $65,000. Finally, Macroview Investment Management LLC raised its holdings in 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 buying an additional 208 shares during the last quarter. Institutional investors own 70.29% of the company’s stock.

Insider Transactions at McDonald’s

In related news, insider Joseph M. Erlinger sold 1,098 shares of the company’s stock in a transaction 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 sale, the insider now directly owns 12,583 shares in the company, valued at $3,632,712.10. This represents a 8.03 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Marion K. Gross sold 1,499 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $294.51, for a total value of $441,470.49. Following the transaction, the executive vice president now 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. Over the last quarter, insiders have sold 35,596 shares of company stock valued at $10,698,289. 0.23% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on MCD shares. Deutsche Bank Aktiengesellschaft lowered their price target on McDonald’s from $295.00 to $290.00 and set a “buy” rating on the stock in a report on Tuesday, July 30th. TD Cowen reiterated a “hold” rating and set a $300.00 target price on shares of McDonald’s in a research report on Tuesday, October 29th. Bank of America raised their price target on McDonald’s from $321.00 to $324.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Stifel Nicolaus dropped their price target on McDonald’s from $285.00 to $265.00 and set a “hold” rating for the company in a research report on Monday, July 22nd. Finally, Baird R W lowered shares of McDonald’s from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 23rd. 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 data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $319.46.

McDonald’s Trading Down 2.0 %

MCD opened at $292.52 on Friday. The company has a fifty day moving average price of $300.06 and a two-hundred day moving average price of $277.42. McDonald’s Co. has a 1-year low of $243.53 and a 1-year high of $317.90. The company has a market cap of $209.63 billion, a P/E ratio of 25.68, a price-to-earnings-growth ratio of 3.95 and a beta of 0.74.

McDonald’s (NYSE:MCD) last posted its quarterly earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share for the quarter, beating the consensus estimate of $3.18 by $0.05. The company had revenue of $6.87 billion during 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 revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.19 earnings per share. On average, research analysts forecast 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 paid a dividend of $1.77 per share. The ex-dividend date is Monday, December 2nd. This represents a $7.08 annualized dividend and a yield of 2.42%. This is a boost from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s payout ratio is currently 58.65%.

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.