Brooklyn Investment Group Sells 422 Shares of McDonald’s Co. (NYSE:MCD)

Brooklyn Investment Group lessened its stake in shares of McDonald’s Co. (NYSE:MCD) by 9.3% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 4,108 shares of the fast-food giant’s stock after selling 422 shares during the quarter. Brooklyn Investment Group’s holdings in McDonald’s were worth $1,251,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of MCD. Hara Capital LLC bought a new stake in shares of McDonald’s during the third quarter worth approximately $44,000. Kings Path Partners LLC bought a new stake in McDonald’s in the 2nd quarter valued at $38,000. Peterson Financial Group Inc. acquired a new position in McDonald’s in the 3rd quarter valued at $58,000. Opal Wealth Advisors LLC bought a new position in McDonald’s during the 2nd quarter worth $59,000. Finally, Bbjs Financial Advisors LLC bought a new position in McDonald’s during the 2nd quarter worth $65,000. Institutional investors own 70.29% of the company’s stock.

Insider Transactions at McDonald’s

In other McDonald’s news, EVP Marion K. Gross sold 1,498 shares of the stock in a transaction dated 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 directly owns 1,560 shares in the company, valued at approximately $446,721.60. This trade represents a 48.99 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Christopher J. Kempczinski sold 11,727 shares of McDonald’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 completion of 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 19.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,498 shares of company stock worth $10,381,296 over the last ninety days. 0.23% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Loop Capital restated a “buy” rating on shares of McDonald’s in a research note on Friday, October 18th. BMO Capital Markets lifted their price objective on McDonald’s from $315.00 to $335.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. The Goldman Sachs Group increased their target price on McDonald’s from $284.00 to $325.00 and gave the stock a “neutral” rating in a report on Tuesday, September 24th. Bank of America boosted 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. Finally, Wells Fargo & Company increased their price objective on shares of McDonald’s from $285.00 to $350.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. Thirteen analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $319.46.

McDonald’s Price Performance

NYSE:MCD opened at $296.07 on Tuesday. McDonald’s Co. has a one year low of $243.53 and a one year high of $317.90. The firm’s 50 day simple moving average is $299.84 and its 200 day simple moving average is $278.40. The company has a market cap of $212.17 billion, a PE ratio of 26.00, a P/E/G ratio of 3.86 and a beta of 0.74.

McDonald’s (NYSE:MCD) last issued its quarterly earnings results 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 company 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%. McDonald’s’s revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.19 earnings per share. Equities research analysts expect that McDonald’s Co. will post 11.77 EPS for the current year.

McDonald’s Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a $1.77 dividend. This is a boost from McDonald’s’s previous quarterly dividend of $1.67. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $7.08 annualized dividend and a dividend yield of 2.39%. McDonald’s’s dividend payout ratio is presently 58.65%.

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.