McDonald’s Co. (NYSE:MCD) Shares Sold by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. lessened its position in shares of McDonald’s Co. (NYSE:MCD) by 69.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,071 shares of the fast-food giant’s stock after selling 14,008 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in McDonald’s were worth $1,849,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Kings Path Partners LLC acquired a new stake in McDonald’s during the 2nd quarter worth approximately $38,000. Hara Capital LLC acquired a new stake in shares of McDonald’s in the third quarter worth $44,000. Peterson Financial Group Inc. purchased a new position in shares of McDonald’s in the 3rd quarter valued at $58,000. Opal Wealth Advisors LLC acquired a new position in shares of McDonald’s during the 2nd quarter valued at $59,000. Finally, Bbjs Financial Advisors LLC purchased a new stake in McDonald’s during the 2nd quarter worth $65,000. 70.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at McDonald’s

In other McDonald’s news, EVP Marion K. Gross sold 1,499 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $294.51, for a total value of $441,470.49. Following the completion of the transaction, the executive vice president now owns 1,560 shares in the company, valued at approximately $459,435.60. This represents a 49.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Joseph M. Erlinger sold 1,099 shares of McDonald’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $298.57, for a total value of $328,128.43. Following the sale, the insider now directly owns 11,484 shares in the company, valued at approximately $3,428,777.88. This trade represents a 8.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 34,498 shares of company stock worth $10,381,296 in the last 90 days. 0.23% of the stock is currently owned by company insiders.

McDonald’s Price Performance

McDonald’s stock opened at $296.15 on Tuesday. The company has a market cap of $212.23 billion, a PE ratio of 26.00, a P/E/G ratio of 3.86 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. The company has a fifty day moving average price of $299.84 and a two-hundred day moving average price of $278.40.

McDonald’s (NYSE:MCD) last announced its quarterly earnings data on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share for the quarter, beating analysts’ consensus estimates of $3.18 by $0.05. The business had revenue of $6.87 billion during the quarter, compared to the consensus estimate of $6.82 billion. McDonald’s had a net margin of 31.79% and a negative return on equity of 175.42%. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.19 EPS. Equities research analysts anticipate that McDonald’s Co. will post 11.77 earnings per share for the current year.

McDonald’s Increases Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. KeyCorp raised their price objective on McDonald’s from $305.00 to $330.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. TD Cowen reiterated a “hold” rating and set a $300.00 target price on shares of McDonald’s in a report on Tuesday, October 29th. Bank of America upped their price target on McDonald’s from $321.00 to $324.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Loop Capital reiterated a “buy” rating on shares of McDonald’s in a research note on Friday, October 18th. Finally, Argus raised shares of McDonald’s from a “hold” rating to a “buy” rating in a research report on Tuesday, October 8th. Thirteen research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat.com, McDonald’s has a consensus rating of “Moderate Buy” and an average target price of $319.46.

McDonald’s 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.