MidWestOne Financial Group Inc. Sells 17,944 Shares of McDonald’s Co. (NYSE:MCD)

MidWestOne Financial Group Inc. reduced its stake in McDonald’s Co. (NYSE:MCD) by 83.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,562 shares of the fast-food giant’s stock after selling 17,944 shares during the quarter. MidWestOne Financial Group Inc.’s holdings in McDonald’s were worth $908,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of MCD. Dixon Mitchell Investment Counsel Inc. bought a new position in McDonald’s in the 1st quarter worth $28,000. Kings Path Partners LLC purchased a new stake in McDonald’s in the 2nd quarter worth $38,000. Accent Capital Management LLC purchased a new stake in McDonald’s in the 4th quarter worth $44,000. Transcendent Capital Group LLC purchased a new stake in McDonald’s in the 4th quarter worth $45,000. Finally, Keener Financial Planning LLC increased its stake in McDonald’s by 32.3% in the 1st quarter. Keener Financial Planning LLC now owns 176 shares of the fast-food giant’s stock worth $50,000 after buying an additional 43 shares in the last quarter. 70.29% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other McDonald’s news, CEO Christopher J. Kempczinski sold 9,291 shares of McDonald’s stock in a transaction on Friday, September 27th. The shares were sold at an average price of $305.00, for a total value of $2,833,755.00. Following the transaction, the chief executive officer now directly owns 43,256 shares of the company’s stock, valued at $13,193,080. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Marion K. Gross sold 1,498 shares of McDonald’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $248.26, for a total transaction of $371,893.48. Following the completion of the sale, the executive vice president now directly owns 1,560 shares in the company, valued at $387,285.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Christopher J. Kempczinski sold 9,291 shares of McDonald’s stock in a transaction 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 sale, the chief executive officer now owns 43,256 shares of the company’s stock, valued at $13,193,080. The disclosure for this sale can be found here. Over the last three months, insiders have sold 33,249 shares of company stock valued at $9,865,866. 0.23% of the stock is currently owned by insiders.

McDonald’s Stock Performance

Shares of NYSE MCD opened at $303.69 on Friday. The stock has a 50 day moving average price of $281.71 and a 200 day moving average price of $271.02. The firm has a market capitalization of $218.86 billion, a price-to-earnings ratio of 25.78, a PEG ratio of 3.99 and a beta of 0.72. McDonald’s Co. has a 52-week low of $243.53 and a 52-week high of $306.96.

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

McDonald’s Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a $1.77 dividend. This is a positive change from McDonald’s’s previous quarterly dividend of $1.67. This represents a $7.08 annualized dividend and a yield of 2.33%. The ex-dividend date is Monday, December 2nd. McDonald’s’s payout ratio is currently 56.71%.

Wall Street Analyst Weigh In

MCD has been the subject of a number of analyst reports. Morgan Stanley cut their price target on McDonald’s from $312.00 to $300.00 and set an “overweight” rating for the company in a research note on Thursday, July 11th. Deutsche Bank Aktiengesellschaft cut their price target on McDonald’s from $295.00 to $290.00 and set a “buy” rating for the company in a research note on Tuesday, July 30th. Loop Capital restated a “buy” rating and set a $342.00 price objective on shares of McDonald’s in a research report on Tuesday, September 10th. Evercore ISI raised their price objective on McDonald’s from $300.00 to $320.00 and gave the company an “outperform” rating in a research report on Monday, August 19th. Finally, Bank of America cut their price objective on McDonald’s from $288.00 to $278.00 and set a “neutral” rating for the company in a research report on Tuesday, July 30th. Eleven equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat, McDonald’s presently has a consensus rating of “Moderate Buy” and an average price target of $308.22.

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.