ABLE Financial Group LLC Sells 2,269 Shares of McDonald’s Co. (NYSE:MCD)

ABLE Financial Group LLC lessened its position in shares of McDonald’s Co. (NYSE:MCD) by 55.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,857 shares of the fast-food giant’s stock after selling 2,269 shares during the period. ABLE Financial Group LLC’s holdings in McDonald’s were worth $565,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Hara Capital LLC acquired a new position in shares of McDonald’s during the 3rd quarter worth approximately $44,000. Kings Path Partners LLC acquired a new stake in McDonald’s during the second quarter worth approximately $38,000. Opal Wealth Advisors LLC bought a new position in McDonald’s during the 2nd quarter worth $59,000. Bbjs Financial Advisors LLC bought a new position in shares of McDonald’s in the second quarter worth about $65,000. Finally, Macroview Investment Management LLC boosted its stake in shares of McDonald’s by 433.3% in the 2nd quarter. Macroview Investment Management LLC now owns 256 shares of the fast-food giant’s stock valued at $65,000 after purchasing an additional 208 shares in the last quarter. Institutional investors and hedge funds own 70.29% of the company’s stock.

McDonald’s Stock Up 1.6 %

MCD stock traded up $4.83 during trading on Friday, reaching $299.49. The stock had a trading volume of 1,038,698 shares, compared to its average volume of 3,517,222. McDonald’s Co. has a one year low of $243.53 and a one year high of $317.90. The company’s 50 day moving average is $298.74 and its two-hundred day moving average is $276.35. The company has a market capitalization of $214.84 billion, a price-to-earnings ratio of 25.87, a P/E/G ratio of 3.89 and a beta of 0.74.

McDonald’s (NYSE:MCD) last posted its quarterly earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share for the quarter, beating the consensus estimate of $3.18 by $0.05. McDonald’s had a net margin of 31.79% and a negative return on equity of 178.99%. The company had revenue of $6.87 billion during the quarter, compared to analyst estimates of $6.82 billion. During the same quarter in the prior year, the business earned $3.19 earnings per share. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. As a group, research analysts predict that McDonald’s Co. will post 11.77 earnings per share for the current fiscal year.

McDonald’s Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a $1.77 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This is a positive change from McDonald’s’s previous quarterly dividend of $1.67. This represents a $7.08 annualized dividend and a dividend yield of 2.36%. McDonald’s’s payout ratio is presently 62.16%.

Analysts Set New Price Targets

Several equities analysts recently commented on MCD shares. Robert W. Baird downgraded shares of McDonald’s from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $320.00 to $290.00 in a research note on Wednesday, October 23rd. Loop Capital reiterated a “buy” rating on shares of McDonald’s in a research note on Friday, October 18th. Bank of America increased their target price on McDonald’s from $321.00 to $324.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Guggenheim cut McDonald’s from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $290.00 to $285.00 in a report on Wednesday, October 23rd. Finally, Citigroup raised their price objective on shares of McDonald’s from $301.00 to $317.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Thirteen research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $319.46.

Insider Activity

In related news, insider Joseph M. Erlinger sold 1,098 shares of McDonald’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $288.70, for a total value of $316,992.60. Following the completion of the sale, the insider now 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, insider Joseph M. Erlinger sold 1,098 shares of McDonald’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $288.70, for a total value of $316,992.60. Following the completion of the transaction, the insider now directly owns 12,583 shares in the company, valued at approximately $3,632,712.10. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Marion K. Gross sold 1,499 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $294.51, for a total transaction of $441,470.49. Following the sale, the executive vice president now directly owns 1,560 shares in the company, valued at $459,435.60. 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 valued at $10,698,289 in the last 90 days. 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.