McDonald’s Co. (NYSE:MCD) Shares Sold by Avidian Wealth Enterprises LLC

Avidian Wealth Enterprises LLC reduced its stake in McDonald’s Co. (NYSE:MCD) by 3.7% in the 3rd quarter, Holdings Channel reports. The firm owned 6,807 shares of the fast-food giant’s stock after selling 263 shares during the quarter. Avidian Wealth Enterprises LLC’s holdings in McDonald’s were worth $2,073,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Kings Path Partners LLC acquired a new stake in shares of McDonald’s in the second quarter valued at about $38,000. Opal Wealth Advisors LLC purchased a new position in McDonald’s in the 2nd quarter worth approximately $59,000. Bbjs Financial Advisors LLC purchased a new stake in shares of McDonald’s during the second quarter valued at approximately $65,000. Macroview Investment Management LLC lifted its position in shares of McDonald’s by 433.3% during the second quarter. Macroview Investment Management LLC now owns 256 shares of the fast-food giant’s stock worth $65,000 after purchasing an additional 208 shares in the last quarter. Finally, Lynx Investment Advisory purchased a new position in shares of McDonald’s in the second quarter valued at $75,000. 70.29% of the stock is owned by hedge funds and other institutional investors.

McDonald’s Stock Up 1.5 %

McDonald’s stock opened at $297.19 on Wednesday. McDonald’s Co. has a 52-week low of $243.53 and a 52-week high of $317.90. The firm has a market capitalization of $213.19 billion, a price-to-earnings ratio of 26.09, a PEG ratio of 3.92 and a beta of 0.74. The firm has a 50-day moving average price of $298.60 and a two-hundred day moving average price of $276.23.

McDonald’s (NYSE:MCD) last issued its quarterly earnings data on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.18 by $0.05. McDonald’s had a negative return on equity of 178.99% and a net margin of 31.79%. The business had revenue of $6.87 billion during the quarter, compared to the consensus estimate of $6.82 billion. During the same period in the previous year, the firm posted $3.19 earnings per share. The business’s revenue was up 2.7% on a year-over-year basis. Research analysts expect that McDonald’s Co. will post 11.77 earnings per share for the current year.

McDonald’s Increases Dividend

The firm 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 $1.77 dividend. This is a boost from McDonald’s’s previous quarterly dividend of $1.67. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $7.08 annualized dividend and a dividend yield of 2.38%. McDonald’s’s dividend payout ratio is presently 58.65%.

Insider Activity

In related news, insider Joseph M. Erlinger sold 1,098 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were 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 $3,632,712.10. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider Joseph M. Erlinger sold 1,098 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $288.70, for a total transaction of $316,992.60. Following the transaction, the insider now owns 12,583 shares in the company, valued at $3,632,712.10. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 value of $441,470.49. Following the completion of the sale, the executive vice president now owns 1,560 shares of the company’s stock, valued at $459,435.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 35,596 shares of company stock valued at $10,698,289. Company insiders own 0.23% of the company’s stock.

Wall Street Analyst Weigh In

MCD has been the topic of several analyst reports. Argus raised shares of McDonald’s from a “hold” rating to a “buy” rating in a research note on Tuesday, October 8th. Jefferies Financial Group lifted their target price on McDonald’s from $310.00 to $330.00 and gave the stock a “buy” rating in a research report on Monday, September 9th. Wells Fargo & Company increased their price target on McDonald’s from $285.00 to $350.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Wedbush restated an “outperform” rating and set a $295.00 price objective on shares of McDonald’s in a report on Wednesday, October 23rd. Finally, Evercore ISI raised their price target on shares of McDonald’s from $320.00 to $340.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 15th. Thirteen investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $319.46.

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.