McDonald’s Co. (NYSE:MCD) Stake Trimmed by Exeter Financial LLC

Exeter Financial LLC trimmed its stake in McDonald’s Co. (NYSE:MCD) by 1.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,656 shares of the fast-food giant’s stock after selling 268 shares during the quarter. McDonald’s makes up 2.4% of Exeter Financial LLC’s holdings, making the stock its 9th biggest position. Exeter Financial LLC’s holdings in McDonald’s were worth $5,377,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Dixon Mitchell Investment Counsel Inc. bought a new stake in shares of McDonald’s in the first quarter valued at approximately $28,000. Kings Path Partners LLC bought a new stake in shares of McDonald’s in the second quarter valued at approximately $38,000. Accent Capital Management LLC bought a new stake in shares of McDonald’s in the fourth quarter valued at approximately $44,000. Transcendent Capital Group LLC bought a new stake in shares of McDonald’s in the fourth quarter valued at approximately $45,000. Finally, Keener Financial Planning LLC raised its position in shares of 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 purchasing an additional 43 shares during the period. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

McDonald’s Trading Down 0.9 %

Shares of MCD opened at $300.88 on Tuesday. The firm’s 50-day moving average price is $286.67 and its 200-day moving average price is $271.72. The firm has a market capitalization of $216.84 billion, a price-to-earnings ratio of 25.54, a PEG ratio of 3.99 and a beta of 0.73. McDonald’s Co. has a 1-year low of $243.53 and a 1-year high of $306.96.

McDonald’s (NYSE:MCD) last announced its earnings results on Monday, July 29th. The fast-food giant reported $2.97 earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.62 billion. During the same period in the previous year, the firm posted $3.17 EPS. The company’s revenue for the quarter was down .1% on a year-over-year basis. On average, research analysts forecast that McDonald’s Co. will post 11.69 EPS for the current fiscal year.

McDonald’s Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a dividend of $1.77 per share. This is a boost from McDonald’s’s previous quarterly dividend of $1.67. This represents a $7.08 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date of this dividend is Monday, December 2nd. McDonald’s’s dividend payout ratio (DPR) is 60.10%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Loop Capital reaffirmed a “buy” rating and set a $342.00 target price on shares of McDonald’s in a report on Tuesday, September 10th. KeyCorp upped their target price on shares of McDonald’s from $305.00 to $330.00 and gave the stock an “overweight” rating in a report on Monday. Morgan Stanley decreased their target price on shares of McDonald’s from $312.00 to $300.00 and set an “overweight” rating on the stock in a report on Thursday, July 11th. Bank of America decreased their target price on shares of McDonald’s from $288.00 to $278.00 and set a “neutral” rating on the stock in a report on Tuesday, July 30th. Finally, Barclays decreased their target price on shares of McDonald’s from $320.00 to $300.00 and set an “overweight” rating on the stock in a report on Tuesday, July 30th. Eleven investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, McDonald’s presently has an average rating of “Moderate Buy” and a consensus price target of $310.12.

Insider Activity at McDonald’s

In other McDonald’s news, insider Joseph M. Erlinger sold 1,099 shares of McDonald’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $260.00, for a total value of $285,740.00. Following the completion of the transaction, the insider now directly owns 13,681 shares of the company’s stock, valued at approximately $3,557,060. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Joseph M. Erlinger sold 1,099 shares of McDonald’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $260.00, for a total value of $285,740.00. Following the completion of the sale, the insider now directly owns 13,681 shares in the company, valued at $3,557,060. 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 available through this link. Also, CEO Christopher J. Kempczinski sold 9,291 shares of McDonald’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 sale, the chief executive officer now owns 43,256 shares of the company’s stock, valued at $13,193,080. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 31,751 shares of company stock valued at $9,493,973 in the last three months. Company insiders own 0.23% of the company’s stock.

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.