Confluence Investment Management LLC Sells 242 Shares of McDonald’s Co. (NYSE:MCD)

Confluence Investment Management LLC reduced its holdings in shares of McDonald’s Co. (NYSE:MCD) by 0.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 84,325 shares of the fast-food giant’s stock after selling 242 shares during the period. Confluence Investment Management LLC’s holdings in McDonald’s were worth $25,678,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Kings Path Partners LLC acquired a new position in shares of McDonald’s during the second quarter valued at about $38,000. Hara Capital LLC purchased a new position in shares of McDonald’s during the third quarter valued at approximately $44,000. Opal Wealth Advisors LLC bought a new stake in shares of McDonald’s in the 2nd quarter worth $59,000. Bbjs Financial Advisors LLC bought a new stake in McDonald’s in the 2nd quarter worth about $65,000. Finally, Macroview Investment Management LLC grew its holdings in shares of McDonald’s by 433.3% in the second quarter. Macroview Investment Management LLC now owns 256 shares of the fast-food giant’s stock valued at $65,000 after acquiring an additional 208 shares in the last quarter. 70.29% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on MCD. The Goldman Sachs Group lifted their target price on McDonald’s from $284.00 to $325.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 24th. Baird R W cut shares of McDonald’s from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Citigroup upped their price objective on McDonald’s from $301.00 to $317.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. Morgan Stanley boosted their target price on McDonald’s from $296.00 to $340.00 and gave the company an “overweight” rating in a research note on Tuesday, October 15th. Finally, BMO Capital Markets increased their price target on McDonald’s from $315.00 to $335.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. 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, McDonald’s presently has a consensus rating of “Moderate Buy” and an average price target of $319.46.

Insider Transactions at McDonald’s

In related news, insider Joseph M. Erlinger sold 1,098 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $288.70, for a total value of $316,992.60. Following the completion of the sale, the insider now owns 12,583 shares in the company, valued at $3,632,712.10. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, EVP Marion K. Gross sold 1,498 shares of McDonald’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $286.36, for a total value of $428,967.28. Following the transaction, the executive vice president now owns 1,560 shares in the company, valued at approximately $446,721.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Joseph M. Erlinger sold 1,098 shares of the business’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 value of $316,992.60. Following the completion of the sale, the insider now owns 12,583 shares of the company’s stock, valued at $3,632,712.10. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 35,596 shares of company stock worth $10,698,289. 0.23% of the stock is currently owned by corporate insiders.

McDonald’s Trading Up 0.2 %

MCD stock opened at $294.68 on Friday. The company’s 50 day moving average is $298.74 and its 200 day moving average is $276.35. The stock has a market cap of $211.39 billion, a price-to-earnings ratio of 25.87, a price-to-earnings-growth ratio of 3.89 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.

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. McDonald’s had a net margin of 31.79% and a negative return on equity of 178.99%. The firm had revenue of $6.87 billion for the quarter, compared to analyst estimates of $6.82 billion. During the same quarter in the prior year, the firm earned $3.19 EPS. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. As a group, sell-side analysts forecast that McDonald’s Co. will post 11.77 EPS for the current fiscal year.

McDonald’s Increases Dividend

The company also recently declared 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. The ex-dividend date is Monday, December 2nd. This represents a $7.08 annualized dividend and a yield of 2.40%. This is a positive change from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s payout ratio is 62.16%.

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.