McDonald’s Co. (NYSE:MCD) Shares Sold by Thrive Wealth Management LLC

Thrive Wealth Management LLC lessened its position in shares of McDonald’s Co. (NYSE:MCD) by 4.7% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 3,413 shares of the fast-food giant’s stock after selling 170 shares during the period. Thrive Wealth Management LLC’s holdings in McDonald’s were worth $1,039,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in McDonald’s by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 69,049,310 shares of the fast-food giant’s stock worth $20,473,811,000 after purchasing an additional 599,745 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of McDonald’s by 15.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,347,048 shares of the fast-food giant’s stock worth $2,178,474,000 after buying an additional 987,099 shares during the period. Legal & General Group Plc grew its stake in McDonald’s by 3.2% in the 2nd quarter. Legal & General Group Plc now owns 6,149,080 shares of the fast-food giant’s stock valued at $1,567,030,000 after acquiring an additional 188,888 shares during the period. Gallagher Fiduciary Advisors LLC raised its position in McDonald’s by 141,160.9% during the fourth quarter. Gallagher Fiduciary Advisors LLC now owns 5,613,710 shares of the fast-food giant’s stock worth $1,664,521,000 after acquiring an additional 5,609,736 shares during the period. Finally, Capital Research Global Investors lifted its holdings in McDonald’s by 66.9% during the first quarter. Capital Research Global Investors now owns 5,471,007 shares of the fast-food giant’s stock valued at $1,542,550,000 after purchasing an additional 2,193,769 shares in the last quarter. Hedge funds and other institutional investors own 70.29% of the company’s stock.

McDonald’s Price Performance

Shares of MCD stock traded up $0.31 on Friday, hitting $303.76. The stock had a trading volume of 2,432,393 shares, compared to its average volume of 3,415,004. The company’s 50 day moving average price is $286.67 and its 200-day moving average price is $271.88. McDonald’s Co. has a 1 year low of $243.53 and a 1 year high of $306.96. The firm has a market capitalization of $218.91 billion, a P/E ratio of 25.79, a P/E/G ratio of 3.99 and a beta of 0.73.

McDonald’s (NYSE:MCD) last posted its quarterly earnings data on Monday, July 29th. The fast-food giant reported $2.97 EPS for the quarter, missing the consensus estimate of $3.07 by ($0.10). McDonald’s had a net margin of 32.25% and a negative return on equity of 178.68%. The business had revenue of $6.49 billion during the quarter, compared to analysts’ expectations of $6.62 billion. During the same period in the previous year, the business posted $3.17 EPS. The company’s revenue for the quarter was down .1% compared to the same quarter last year. On average, equities analysts forecast that McDonald’s Co. will post 11.69 EPS for the current year.

McDonald’s Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.33%. This is a positive change from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s dividend payout ratio is currently 60.10%.

Analysts Set New Price Targets

A number of analysts have recently commented on MCD shares. Robert W. Baird boosted their target price on shares of McDonald’s from $280.00 to $320.00 and gave the stock an “outperform” rating in a research note on Thursday, September 26th. KeyCorp cut their price objective on McDonald’s from $310.00 to $305.00 and set an “overweight” rating for the company in a research note on Tuesday, July 30th. Stifel Nicolaus decreased their target price on McDonald’s from $285.00 to $265.00 and set a “hold” rating on the stock in a research report on Monday, July 22nd. JPMorgan Chase & Co. boosted their price target on McDonald’s from $270.00 to $290.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Finally, Wedbush restated an “outperform” rating and issued a $295.00 price objective on shares of McDonald’s in a report on Monday, July 29th. Eleven investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $309.15.

Insider Activity

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 stock was 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 $3,632,712.10. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Joseph M. Erlinger sold 1,098 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $288.70, for a total transaction of $316,992.60. Following the completion of the transaction, the insider now directly owns 12,583 shares of the company’s stock, valued at approximately $3,632,712.10. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Christopher J. Kempczinski sold 11,727 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $300.03, for a total transaction of $3,518,451.81. Following the sale, the chief executive officer now owns 49,885 shares in the company, valued at $14,966,996.55. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 31,751 shares of company stock worth $9,493,973. Corporate insiders own 0.23% of the company’s stock.

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.