Associated Banc Corp Sells 1,403 Shares of McDonald’s Co. (NYSE:MCD)

Associated Banc Corp decreased its holdings in McDonald’s Co. (NYSE:MCD) by 1.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 106,499 shares of the fast-food giant’s stock after selling 1,403 shares during the period. Associated Banc Corp’s holdings in McDonald’s were worth $32,430,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Steigerwald Gordon & Koch Inc. boosted its stake in shares of McDonald’s by 2.4% in the 3rd quarter. Steigerwald Gordon & Koch Inc. now owns 1,422 shares of the fast-food giant’s stock valued at $433,000 after purchasing an additional 33 shares in the last quarter. Riversedge Advisors LLC lifted its stake in McDonald’s by 2.0% in the third quarter. Riversedge Advisors LLC now owns 1,686 shares of the fast-food giant’s stock worth $513,000 after purchasing an additional 33 shares during the last quarter. Proquility Private Wealth Partners LLC boosted its position in McDonald’s by 1.0% during the third quarter. Proquility Private Wealth Partners LLC now owns 3,472 shares of the fast-food giant’s stock valued at $1,057,000 after buying an additional 35 shares during the period. Clear Creek Financial Management LLC grew its stake in shares of McDonald’s by 2.8% during the third quarter. Clear Creek Financial Management LLC now owns 1,300 shares of the fast-food giant’s stock valued at $396,000 after buying an additional 35 shares during the last quarter. Finally, GDS Wealth Management increased its holdings in shares of McDonald’s by 1.4% in the third quarter. GDS Wealth Management now owns 2,504 shares of the fast-food giant’s stock worth $762,000 after buying an additional 35 shares during the period. 70.29% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MCD has been the topic of several recent research reports. Guggenheim lowered McDonald’s from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $290.00 to $285.00 in a research report on Wednesday, October 23rd. The Goldman Sachs Group increased their price target 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. Robert W. Baird downgraded shares of McDonald’s from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $320.00 to $290.00 in a research note on Wednesday, October 23rd. BMO Capital Markets raised their target price on McDonald’s from $315.00 to $335.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Finally, Evercore ISI upped their target price on McDonald’s from $320.00 to $340.00 and gave the company an “outperform” rating in a report on Tuesday, October 15th. Thirteen analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $319.46.

Insider Buying and Selling at McDonald’s

In other McDonald’s news, EVP Marion K. Gross sold 1,498 shares of the firm’s 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 transaction, the executive vice president now owns 1,560 shares in the company, valued at $446,721.60. This trade represents a 48.99 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CMO Edith Morgan Flatley sold 2,346 shares of the business’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $310.00, for a total transaction of $727,260.00. Following the completion of the sale, the chief marketing officer now owns 2,905 shares in the company, valued at $900,550. This represents a 44.68 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 34,498 shares of company stock valued at $10,381,296 over the last ninety days. 0.23% of the stock is currently owned by company insiders.

McDonald’s Price Performance

Shares of MCD traded up $4.94 during trading hours on Monday, hitting $295.22. The stock had a trading volume of 1,200,143 shares, compared to its average volume of 3,488,078. 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 $211.56 billion, a PE ratio of 25.49, a PEG ratio of 3.86 and a beta of 0.74. The stock has a fifty day moving average price of $299.85 and a 200 day moving average price of $278.20.

McDonald’s (NYSE:MCD) last announced its 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. 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 for the quarter, compared to analysts’ expectations of $6.82 billion. During the same period last year, the firm earned $3.19 EPS. McDonald’s’s revenue for the quarter was up 2.7% compared to the same quarter last year. As a group, analysts anticipate that McDonald’s Co. will post 11.77 EPS for the current fiscal year.

McDonald’s Increases Dividend

The company also recently announced 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 is Monday, December 2nd. This represents a $7.08 annualized dividend and a yield of 2.40%. This is an increase from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s dividend payout ratio is currently 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.