McDonald’s Co. (NYSE:MCD) Shares Sold by Simmons Bank

Simmons Bank cut its stake in McDonald’s Co. (NYSE:MCD) by 12.0% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,643 shares of the fast-food giant’s stock after selling 1,309 shares during the quarter. Simmons Bank’s holdings in McDonald’s were worth $2,936,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Legal & General Group Plc boosted its holdings in McDonald’s by 3.2% in the 2nd quarter. Legal & General Group Plc now owns 6,149,080 shares of the fast-food giant’s stock valued at $1,567,030,000 after purchasing an additional 188,888 shares during the last quarter. Capital Research Global Investors lifted its holdings in McDonald’s by 66.9% in the first quarter. Capital Research Global Investors now owns 5,471,007 shares of the fast-food giant’s stock valued at $1,542,550,000 after acquiring an additional 2,193,769 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in McDonald’s by 8.0% in the second quarter. Ameriprise Financial Inc. now owns 4,761,625 shares of the fast-food giant’s stock valued at $1,216,677,000 after acquiring an additional 354,196 shares during the last quarter. Capital World Investors grew its position in McDonald’s by 39.7% in the first quarter. Capital World Investors now owns 3,565,398 shares of the fast-food giant’s stock worth $1,005,264,000 after acquiring an additional 1,012,534 shares during the period. Finally, International Assets Investment Management LLC increased its stake in McDonald’s by 31,151.1% during the third quarter. International Assets Investment Management LLC now owns 2,319,142 shares of the fast-food giant’s stock worth $706,202,000 after acquiring an additional 2,311,721 shares during the last quarter. Hedge funds and other institutional investors own 70.29% of the company’s stock.

McDonald’s Price Performance

Shares of NYSE:MCD opened at $298.65 on Wednesday. McDonald’s Co. has a 12 month low of $243.53 and a 12 month high of $317.90. The firm has a market capitalization of $214.01 billion, a P/E ratio of 26.22, a P/E/G ratio of 4.01 and a beta of 0.74. The company’s fifty day moving average price is $299.60 and its 200 day moving average price is $277.00.

McDonald’s (NYSE:MCD) last posted its 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. The business had revenue of $6.87 billion during the quarter, compared to the consensus estimate of $6.82 billion. McDonald’s had a negative return on equity of 175.42% and a net margin of 31.79%. The business’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the business earned $3.19 EPS. On average, sell-side analysts anticipate that McDonald’s Co. will post 11.77 EPS for the current year.

McDonald’s Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a dividend of $1.77 per share. 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 dividend on an annualized basis and a dividend yield of 2.37%. McDonald’s’s dividend payout ratio (DPR) is 58.65%.

Analyst Upgrades and Downgrades

MCD has been the subject of a number of research analyst reports. Wedbush reiterated an “outperform” rating and set a $295.00 price target on shares of McDonald’s in a report on Wednesday, October 23rd. TD Cowen reaffirmed a “hold” rating and set a $300.00 target price on shares of McDonald’s in a research note on Tuesday, October 29th. Robert W. Baird downgraded shares of McDonald’s from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $320.00 to $290.00 in a research note on Wednesday, October 23rd. Morgan Stanley upped their price objective 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, Tigress Financial lifted their target price on shares of McDonald’s from $355.00 to $360.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Thirteen research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $319.46.

Insider Activity

In related news, EVP Marion K. Gross sold 1,498 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $286.36, for a total transaction of $428,967.28. Following the completion of the sale, the executive vice president now owns 1,560 shares in the company, valued at $446,721.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other McDonald’s news, EVP Marion K. Gross sold 1,498 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $286.36, for a total transaction of $428,967.28. Following the completion of the sale, the executive vice president now directly owns 1,560 shares of the company’s stock, valued at $446,721.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Marion K. Gross sold 1,499 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $294.51, for a total transaction of $441,470.49. Following the completion of the transaction, the executive vice president now directly owns 1,560 shares in the company, valued at $459,435.60. This represents a 0.00 % decrease in their ownership of the stock. 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 ninety days. 0.23% of the stock is currently owned by company insiders.

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.