Centennial Wealth Advisory LLC Trims Position in McDonald’s Co. (NYSE:MCD)

Centennial Wealth Advisory LLC cut its stake in shares of McDonald’s Co. (NYSE:MCD) by 4.5% during the third quarter, HoldingsChannel.com reports. The fund owned 2,205 shares of the fast-food giant’s stock after selling 105 shares during the quarter. Centennial Wealth Advisory LLC’s holdings in McDonald’s were worth $672,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Hantz Financial Services Inc. purchased a new position in McDonald’s in the 2nd quarter worth $6,612,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in McDonald’s by 58.9% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 138,102 shares of the fast-food giant’s stock worth $35,194,000 after purchasing an additional 51,210 shares during the period. U.S. Capital Wealth Advisors LLC raised its stake in shares of McDonald’s by 6.5% during the 3rd quarter. U.S. Capital Wealth Advisors LLC now owns 49,186 shares of the fast-food giant’s stock valued at $14,978,000 after buying an additional 2,997 shares during the last quarter. First Financial Bankshares Inc raised its stake in shares of McDonald’s by 11.7% during the 3rd quarter. First Financial Bankshares Inc now owns 313,961 shares of the fast-food giant’s stock valued at $95,604,000 after buying an additional 32,890 shares during the last quarter. Finally, Quintet Private Bank Europe S.A. lifted its holdings in shares of McDonald’s by 17.1% in the 3rd quarter. Quintet Private Bank Europe S.A. now owns 49,318 shares of the fast-food giant’s stock valued at $15,018,000 after buying an additional 7,200 shares during the period. Institutional investors own 70.29% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on MCD shares. BMO Capital Markets raised their target price on McDonald’s from $315.00 to $335.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Citigroup raised their price objective on McDonald’s from $301.00 to $317.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Stifel Nicolaus decreased their target price on McDonald’s from $285.00 to $265.00 and set a “hold” rating on the stock in a research report on Monday, July 22nd. Morgan Stanley boosted their price target on shares of McDonald’s from $296.00 to $340.00 and gave the stock an “overweight” rating in a report on Tuesday, October 15th. Finally, TD Cowen reissued a “hold” rating and set a $300.00 target price on shares of McDonald’s in a report on Tuesday, October 29th. Thirteen analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, McDonald’s has an average rating of “Moderate Buy” and a consensus price target of $319.46.

McDonald’s Trading Up 0.0 %

Shares of MCD traded up $0.14 during mid-day trading on Wednesday, hitting $297.46. 421,031 shares of the company’s stock were exchanged, compared to its average volume of 3,509,841. McDonald’s Co. has a fifty-two week low of $243.53 and a fifty-two week high of $317.90. The business’s 50 day moving average is $298.60 and its two-hundred day moving average is $276.23. The firm has a market capitalization of $213.38 billion, a P/E ratio of 26.09, a P/E/G ratio of 3.92 and a beta of 0.74.

McDonald’s (NYSE:MCD) last issued its earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.18 by $0.05. The company had revenue of $6.87 billion during the quarter, compared to analysts’ expectations of $6.82 billion. McDonald’s had a net margin of 31.79% and a negative return on equity of 178.99%. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period last year, the company posted $3.19 earnings per share. On average, equities research analysts forecast that McDonald’s Co. will post 11.77 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. Stockholders of record on Monday, December 2nd will be paid a dividend of $1.77 per share. This represents a $7.08 annualized dividend and a dividend yield of 2.38%. 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 payout ratio is 58.65%.

Insider Buying and Selling

In other news, CEO Christopher J. Kempczinski sold 11,727 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $300.03, for a total transaction of $3,518,451.81. Following 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 position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO Christopher J. Kempczinski sold 11,727 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 49,885 shares in the company, valued at $14,966,996.55. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Joseph M. Erlinger sold 1,098 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $288.70, for a total transaction of $316,992.60. Following the sale, the insider now directly owns 12,583 shares of the company’s stock, valued at approximately $3,632,712.10. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 35,596 shares of company stock worth $10,698,289 in the last three months. Corporate insiders own 0.23% of the company’s stock.

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.