Financial Advocates Investment Management Sells 199 Shares of McDonald’s Co. (NYSE:MCD)

Financial Advocates Investment Management reduced its stake in shares of McDonald’s Co. (NYSE:MCD) by 2.5% in the third quarter, Holdings Channel reports. The fund owned 7,800 shares of the fast-food giant’s stock after selling 199 shares during the quarter. Financial Advocates Investment Management’s holdings in McDonald’s were worth $2,375,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Van ECK Associates Corp boosted its holdings in McDonald’s by 3.1% in the 1st quarter. Van ECK Associates Corp now owns 16,166 shares of the fast-food giant’s stock worth $4,558,000 after buying an additional 484 shares during the period. Fairhaven Wealth Management LLC boosted its holdings in McDonald’s by 71.9% in the 1st quarter. Fairhaven Wealth Management LLC now owns 4,317 shares of the fast-food giant’s stock worth $1,217,000 after buying an additional 1,806 shares during the period. Cherry Tree Wealth Management LLC boosted its holdings in McDonald’s by 7.8% in the 1st quarter. Cherry Tree Wealth Management LLC now owns 1,081 shares of the fast-food giant’s stock worth $305,000 after buying an additional 78 shares during the period. KFA Private Wealth Group LLC boosted its holdings in McDonald’s by 4.4% in the 1st quarter. KFA Private Wealth Group LLC now owns 1,276 shares of the fast-food giant’s stock worth $360,000 after buying an additional 54 shares during the period. Finally, Resonant Capital Advisors LLC boosted its holdings in McDonald’s by 2.1% in the 1st quarter. Resonant Capital Advisors LLC now owns 11,291 shares of the fast-food giant’s stock worth $3,184,000 after buying an additional 234 shares during the period. 70.29% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other McDonald’s news, insider Joseph M. Erlinger sold 1,098 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $288.70, for a total value of $316,992.60. Following the sale, the insider now owns 12,583 shares in the company, valued at approximately $3,632,712.10. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Joseph M. Erlinger sold 1,099 shares of the stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $298.57, for a total transaction of $328,128.43. Following the sale, the insider now owns 11,484 shares in the company, valued at $3,428,777.88. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Joseph M. Erlinger sold 1,098 shares of the 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 sale, the insider now owns 12,583 shares in the company, valued at approximately $3,632,712.10. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 34,097 shares of company stock worth $10,256,818. 0.23% of the stock is currently owned by company insiders.

McDonald’s Trading Up 0.2 %

Shares of NYSE:MCD opened at $292.17 on Friday. The company has a market cap of $209.59 billion, a price-to-earnings ratio of 25.65, a price-to-earnings-growth ratio of 3.85 and a beta of 0.73. The company has a 50-day moving average price of $298.25 and a 200-day moving average price of $275.58. McDonald’s Co. has a 12 month low of $243.53 and a 12 month high of $317.90.

McDonald’s (NYSE:MCD) last announced its quarterly earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $6.87 billion for the quarter, compared to analysts’ expectations of $6.82 billion. During the same quarter in the previous year, the company earned $3.19 earnings per share. McDonald’s’s quarterly revenue was up 2.7% on a year-over-year basis. As a group, research analysts forecast that McDonald’s Co. will post 11.78 EPS for the current fiscal year.

McDonald’s Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a dividend of $1.77 per share. The ex-dividend date is Monday, December 2nd. This represents a $7.08 annualized dividend and a dividend 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%.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Guggenheim downgraded shares of McDonald’s from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $290.00 to $285.00 in a report on Wednesday, October 23rd. Robert W. Baird downgraded shares of McDonald’s from an “outperform” rating to a “neutral” rating and cut their price target for the company from $320.00 to $290.00 in a report on Wednesday, October 23rd. Morgan Stanley raised their price target on shares of McDonald’s from $296.00 to $340.00 and gave the company an “overweight” rating in a report on Tuesday, October 15th. TD Cowen reissued a “hold” rating and issued a $300.00 price target on shares of McDonald’s in a report on Tuesday. Finally, JPMorgan Chase & Co. raised their price target on shares of McDonald’s from $270.00 to $290.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Thirteen research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $319.46.

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.