Gulf International Bank UK Ltd Has $17.19 Million Stake in McDonald’s Co. (NYSE:MCD)

Gulf International Bank UK Ltd reduced its stake in McDonald’s Co. (NYSE:MCD) by 4.3% during the third quarter, HoldingsChannel reports. The firm owned 56,442 shares of the fast-food giant’s stock after selling 2,529 shares during the quarter. Gulf International Bank UK Ltd’s holdings in McDonald’s were worth $17,187,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. Steigerwald Gordon & Koch Inc. lifted its holdings in McDonald’s by 2.4% in the third quarter. Steigerwald Gordon & Koch Inc. now owns 1,422 shares of the fast-food giant’s stock worth $433,000 after purchasing an additional 33 shares during the period. Riversedge Advisors LLC raised its holdings in shares of McDonald’s by 2.0% during the 3rd quarter. Riversedge Advisors LLC now owns 1,686 shares of the fast-food giant’s stock valued at $513,000 after purchasing an additional 33 shares in the last quarter. Proquility Private Wealth Partners LLC grew its holdings 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 purchasing an additional 35 shares during the last quarter. Clear Creek Financial Management LLC boosted its stake in McDonald’s by 2.8% during the 3rd quarter. Clear Creek Financial Management LLC now owns 1,300 shares of the fast-food giant’s stock valued at $396,000 after purchasing an additional 35 shares during the period. Finally, Founders Financial Alliance LLC increased its holdings in shares of McDonald’s by 0.7% during the 2nd quarter. Founders Financial Alliance LLC now owns 4,980 shares of the fast-food giant’s stock worth $1,269,000 after purchasing an additional 36 shares during the period. Institutional investors and hedge funds own 70.29% of the company’s stock.

Insider Activity

In other McDonald’s news, CEO Christopher J. Kempczinski sold 11,727 shares of the firm’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $300.03, for a total value of $3,518,451.81. Following the sale, the chief executive officer now directly owns 49,885 shares in the company, valued at $14,966,996.55. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other McDonald’s news, CEO Christopher J. Kempczinski sold 11,727 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were 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. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Joseph M. Erlinger sold 1,099 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $292.38, for a total transaction of $321,325.62. Following the completion of the transaction, the insider now directly owns 10,385 shares in the company, valued at approximately $3,036,366.30. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 34,097 shares of company stock valued at $10,256,818. Insiders own 0.23% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Stifel Nicolaus dropped their target price on shares of McDonald’s from $285.00 to $265.00 and set a “hold” rating for the company in a research report on Monday, July 22nd. Bank of America boosted their price target on shares of McDonald’s from $321.00 to $324.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Evercore ISI raised their price target on McDonald’s from $320.00 to $340.00 and gave the company an “outperform” rating in a report on Tuesday, October 15th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of McDonald’s from $295.00 to $290.00 and set a “buy” rating on the stock in a research note on Tuesday, July 30th. Finally, Guggenheim cut shares of McDonald’s from a “buy” rating to a “neutral” rating and dropped their target price for the company from $290.00 to $285.00 in a research report on Wednesday, October 23rd. Thirteen analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $319.46.

McDonald’s Price Performance

McDonald’s stock opened at $292.85 on Tuesday. The firm’s fifty day moving average price is $298.45 and its 200 day moving average price is $276.05. The company has a market capitalization of $210.07 billion, a price-to-earnings ratio of 25.71, a price-to-earnings-growth ratio of 3.92 and a beta of 0.74. McDonald’s Co. has a 12-month low of $243.53 and a 12-month high of $317.90.

McDonald’s (NYSE:MCD) last released its earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 EPS for the quarter, beating the consensus estimate of $3.18 by $0.05. The firm had revenue of $6.87 billion for the quarter, compared to analysts’ expectations of $6.82 billion. McDonald’s had a net margin of 31.79% and a negative return on equity of 178.99%. McDonald’s’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter last year, the company earned $3.19 EPS. Analysts forecast that McDonald’s Co. will post 11.77 earnings per share for the current fiscal year.

McDonald’s Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a dividend of $1.77 per share. This represents a $7.08 annualized dividend and a yield of 2.42%. This is an increase from McDonald’s’s previous quarterly dividend of $1.67. The ex-dividend date is Monday, December 2nd. 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.