Burns J W & Co. Inc. NY Reduces Position in McDonald’s Co. (NYSE:MCD)

Burns J W & Co. Inc. NY lowered its holdings in McDonald’s Co. (NYSE:MCD) by 1.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 46,283 shares of the fast-food giant’s stock after selling 860 shares during the period. McDonald’s accounts for 1.8% of Burns J W & Co. Inc. NY’s investment portfolio, making the stock its 12th biggest position. Burns J W & Co. Inc. NY’s holdings in McDonald’s were worth $14,094,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Dixon Mitchell Investment Counsel Inc. purchased a new stake in shares of McDonald’s in the first quarter valued at $28,000. Kings Path Partners LLC acquired a new position in McDonald’s in the second quarter valued at $38,000. Accent Capital Management LLC acquired a new position in McDonald’s in the fourth quarter valued at $44,000. Transcendent Capital Group LLC acquired a new position in McDonald’s in the fourth quarter valued at $45,000. Finally, Keener Financial Planning LLC boosted its holdings in McDonald’s by 32.3% in the first quarter. Keener Financial Planning LLC now owns 176 shares of the fast-food giant’s stock valued at $50,000 after acquiring an additional 43 shares during the last quarter. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. BMO Capital Markets reduced their target price on McDonald’s from $330.00 to $315.00 and set an “outperform” rating on the stock in a report on Tuesday, July 30th. Bank of America reduced their target price on McDonald’s from $288.00 to $278.00 and set a “neutral” rating on the stock in a report on Tuesday, July 30th. Tigress Financial lifted their target price on McDonald’s from $355.00 to $360.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Deutsche Bank Aktiengesellschaft reduced their target price on McDonald’s from $295.00 to $290.00 and set a “buy” rating on the stock in a report on Tuesday, July 30th. Finally, Stifel Nicolaus reduced their price objective on McDonald’s from $285.00 to $265.00 and set a “hold” rating on the stock in a research note on Monday, July 22nd. Eleven equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to data from MarketBeat, McDonald’s presently has a consensus rating of “Moderate Buy” and a consensus price target of $309.15.

McDonald’s Trading Up 0.1 %

McDonald’s stock traded up $0.31 during midday trading on Friday, hitting $303.76. The stock had a trading volume of 2,432,634 shares, compared to its average volume of 3,415,004. The stock has a market cap 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. The business has a fifty day moving average price of $286.67 and a 200 day moving average price of $271.88. McDonald’s Co. has a 12 month low of $243.53 and a 12 month high of $306.96.

McDonald’s (NYSE:MCD) last posted its earnings results 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). The company had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.62 billion. McDonald’s had a net margin of 32.25% and a negative return on equity of 178.68%. The firm’s revenue for the quarter was down .1% compared to the same quarter last year. During the same period last year, the company posted $3.17 earnings per share. On average, equities analysts anticipate that McDonald’s Co. will post 11.69 EPS for the current fiscal 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 of this dividend 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 2.33%. McDonald’s’s dividend payout ratio is 60.10%.

Insider Activity

In other news, CEO Christopher J. Kempczinski sold 9,291 shares of the company’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $305.00, for a total transaction of $2,833,755.00. Following the completion of the transaction, the chief executive officer now directly owns 43,256 shares of the company’s stock, valued at approximately $13,193,080. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Christopher J. Kempczinski sold 9,291 shares of the business’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $305.00, for a total transaction of $2,833,755.00. Following the completion of the transaction, the chief executive officer now directly owns 43,256 shares in the company, valued at approximately $13,193,080. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Joseph M. Erlinger sold 1,099 shares of the business’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $260.00, for a total value of $285,740.00. Following the transaction, the insider now owns 13,681 shares of the company’s stock, valued at approximately $3,557,060. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 31,751 shares of company stock valued at $9,493,973. 0.23% of the stock is currently owned by insiders.

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.