Abner Herrman & Brock LLC Has $17.04 Million Stock Holdings in McDonald’s Co. (NYSE:MCD)

Abner Herrman & Brock LLC lowered its stake in shares of McDonald’s Co. (NYSE:MCD) by 0.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 55,964 shares of the fast-food giant’s stock after selling 413 shares during the period. McDonald’s comprises about 2.1% of Abner Herrman & Brock LLC’s investment portfolio, making the stock its 20th biggest holding. Abner Herrman & Brock LLC’s holdings in McDonald’s were worth $17,042,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Dixon Mitchell Investment Counsel Inc. purchased a new position in McDonald’s in the first quarter valued at about $28,000. Kings Path Partners LLC acquired a new stake in shares of McDonald’s during the 2nd quarter valued at about $38,000. Accent Capital Management LLC bought a new stake in shares of McDonald’s in the 4th quarter valued at approximately $44,000. Transcendent Capital Group LLC acquired a new position in McDonald’s in the fourth quarter worth approximately $45,000. Finally, Keener Financial Planning LLC raised its position in McDonald’s by 32.3% during 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 in the last quarter. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at McDonald’s

In other McDonald’s news, CEO Christopher J. Kempczinski sold 11,727 shares of the stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 49,885 shares in the company, valued at $14,966,996.55. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed 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 transaction, the insider now owns 13,681 shares in the company, valued at approximately $3,557,060. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Christopher J. Kempczinski sold 11,727 shares of the business’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $300.03, for a total value of $3,518,451.81. Following the completion of the transaction, the chief executive officer now directly owns 49,885 shares in the company, valued at approximately $14,966,996.55. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 31,751 shares of company stock valued at $9,493,973 in the last 90 days. 0.23% of the stock is owned by corporate insiders.

McDonald’s Price Performance

Shares of McDonald’s stock opened at $303.84 on Thursday. The company’s fifty day moving average price is $288.17 and its two-hundred day moving average price is $271.98. The firm has a market capitalization of $218.97 billion, a PE ratio of 25.79, a price-to-earnings-growth ratio of 3.99 and a beta of 0.73. McDonald’s Co. has a 52-week low of $243.53 and a 52-week high of $306.96.

McDonald’s (NYSE:MCD) last posted 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). The business had revenue of $6.49 billion during 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 business’s revenue was down .1% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.17 EPS. Analysts predict that McDonald’s Co. will post 11.69 earnings per share 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. Investors of record on Monday, December 2nd will be given a dividend of $1.77 per share. This represents a $7.08 annualized dividend and a dividend yield of 2.33%. The ex-dividend date of this dividend is Monday, December 2nd. This is an increase from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s dividend payout ratio (DPR) is 60.10%.

Analyst Upgrades and Downgrades

MCD has been the subject of several recent research reports. Citigroup boosted their target price on shares of McDonald’s from $301.00 to $317.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Loop Capital reissued a “buy” rating and set a $342.00 target price on shares of McDonald’s in a research report on Tuesday, September 10th. TD Cowen reissued a “hold” rating and issued a $280.00 price objective on shares of McDonald’s in a research note on Monday, September 23rd. JPMorgan Chase & Co. boosted their price objective on shares of McDonald’s from $270.00 to $290.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. Finally, Argus upgraded shares of McDonald’s from a “hold” rating to a “buy” rating in a research note on Tuesday. Ten investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $310.50.

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.