Buffington Mohr McNeal Lowers Stock Position in McDonald’s Co. (NYSE:MCD)

Buffington Mohr McNeal cut its stake in shares of McDonald’s Co. (NYSE:MCD) by 9.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 810 shares of the fast-food giant’s stock after selling 89 shares during the quarter. Buffington Mohr McNeal’s holdings in McDonald’s were worth $247,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MCD. Dixon Mitchell Investment Counsel Inc. bought a new stake in shares of McDonald’s during the 1st quarter valued at $28,000. Kings Path Partners LLC bought a new stake in McDonald’s during the second quarter valued at about $38,000. Keener Financial Planning LLC raised its holdings 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 during the period. Opal Wealth Advisors LLC purchased a new position in shares of McDonald’s in the second quarter valued at about $59,000. Finally, Redmont Wealth Advisors LLC bought a new position in shares of McDonald’s in the first quarter worth about $69,000. 70.29% of the stock is owned by hedge funds and other institutional investors.

McDonald’s Price Performance

Shares of NYSE:MCD opened at $314.75 on Friday. The firm has a market capitalization of $226.83 billion, a PE ratio of 26.72, a price-to-earnings-growth ratio of 4.05 and a beta of 0.73. The business has a 50 day simple moving average of $293.64 and a two-hundred day simple moving average of $273.48. McDonald’s Co. has a 1 year low of $243.53 and a 1 year high of $315.36.

McDonald’s (NYSE:MCD) last posted its quarterly earnings data on Monday, July 29th. The fast-food giant reported $2.97 earnings per share (EPS) 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 business had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.62 billion. During the same quarter in the previous year, the firm earned $3.17 EPS. McDonald’s’s revenue was down .1% compared to the same quarter last year. Equities research analysts expect that McDonald’s Co. will post 11.71 EPS for the current fiscal year.

McDonald’s Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a $1.77 dividend. The ex-dividend date is Monday, December 2nd. 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 dividend yield of 2.25%. McDonald’s’s dividend payout ratio is presently 60.10%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on MCD. 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 report on Monday, September 16th. Stifel Nicolaus lowered their target price on shares of McDonald’s from $285.00 to $265.00 and set a “hold” rating on the stock in a report on Monday, July 22nd. Guggenheim raised their target price on shares of McDonald’s from $280.00 to $290.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Evercore ISI boosted their price target on shares of McDonald’s from $320.00 to $340.00 and gave the stock an “outperform” rating in a research note on Tuesday. Finally, Jefferies Financial Group raised their price objective on McDonald’s from $310.00 to $330.00 and gave the company a “buy” rating in a research report on Monday, September 9th. Ten research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $315.69.

Insider Buying and Selling

In other McDonald’s news, CMO Edith Morgan Flatley sold 2,346 shares of the business’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $310.00, for a total value of $727,260.00. Following the completion of the sale, the chief marketing officer now directly owns 2,905 shares of the company’s stock, valued at $900,550. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Joseph M. Erlinger sold 1,099 shares of the stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $260.00, for a total transaction 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CMO Edith Morgan Flatley sold 2,346 shares of the firm’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $310.00, for a total value of $727,260.00. Following the transaction, the chief marketing officer now owns 2,905 shares in the company, valued at approximately $900,550. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 34,097 shares of company stock valued at $10,221,233 in the last 90 days. Company insiders own 0.23% of the company’s stock.

About McDonald’s

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.