Osborne Partners Capital Management LLC Lowers Stock Holdings in McDonald’s Co. (NYSE:MCD)

Osborne Partners Capital Management LLC lowered its stake in shares of McDonald’s Co. (NYSE:MCD) by 2.3% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 1,700 shares of the fast-food giant’s stock after selling 40 shares during the period. Osborne Partners Capital Management LLC’s holdings in McDonald’s were worth $518,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Parcion Private Wealth LLC grew its holdings in shares of McDonald’s by 10.4% during the third quarter. Parcion Private Wealth LLC now owns 20,820 shares of the fast-food giant’s stock worth $6,340,000 after buying an additional 1,959 shares during the last quarter. Allworth Financial LP grew its holdings in shares of McDonald’s by 8.2% during the third quarter. Allworth Financial LP now owns 35,395 shares of the fast-food giant’s stock worth $10,778,000 after buying an additional 2,674 shares during the last quarter. Signet Investment Advisory Group Inc. lifted its position in McDonald’s by 4.7% in the third quarter. Signet Investment Advisory Group Inc. now owns 9,326 shares of the fast-food giant’s stock valued at $2,840,000 after purchasing an additional 418 shares during the period. Country Club Bank lifted its position in McDonald’s by 0.8% in the third quarter. Country Club Bank now owns 9,948 shares of the fast-food giant’s stock valued at $3,021,000 after purchasing an additional 82 shares during the period. Finally, Blackston Financial Advisory Group LLC lifted its position in McDonald’s by 20.0% in the third quarter. Blackston Financial Advisory Group LLC now owns 2,388 shares of the fast-food giant’s stock valued at $728,000 after purchasing an additional 398 shares during the period. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Insiders Place Their Bets

In other news, insider Joseph M. Erlinger sold 1,099 shares of the business’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $292.38, for a total transaction of $321,325.62. Following the completion of the sale, the insider now directly owns 10,385 shares of the company’s stock, valued at $3,036,366.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Joseph M. Erlinger sold 1,099 shares of the business’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $292.38, for a total transaction of $321,325.62. Following the completion of the sale, the insider now directly owns 10,385 shares of the company’s stock, valued at $3,036,366.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Marion K. Gross sold 1,498 shares of the business’s 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 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 34,097 shares of company stock valued at $10,256,818. Company insiders own 0.23% of the company’s stock.

McDonald’s Stock Performance

MCD stock opened at $292.61 on Friday. The stock has a market capitalization of $210.88 billion, a P/E ratio of 24.84, a PEG ratio of 4.13 and a beta of 0.73. McDonald’s Co. has a one year low of $243.53 and a one year high of $317.90. The company has a 50 day moving average price of $297.78 and a two-hundred day moving average price of $274.91.

McDonald’s (NYSE:MCD) last released its earnings results on Monday, July 29th. The fast-food giant reported $2.97 EPS for the quarter, missing the consensus estimate of $3.07 by ($0.10). The firm had revenue of $6.49 billion during the quarter, compared to analysts’ expectations of $6.62 billion. McDonald’s had a negative return on equity of 178.68% and a net margin of 32.25%. The firm’s revenue was down .1% on a year-over-year basis. During the same period in the previous year, the firm posted $3.17 earnings per share. Research analysts forecast that McDonald’s Co. will post 11.73 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. This is a boost from McDonald’s’s previous quarterly dividend of $1.67. This represents a $7.08 annualized dividend and a yield of 2.42%. The ex-dividend date of this dividend is Monday, December 2nd. McDonald’s’s payout ratio is presently 60.10%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on MCD. Bank of America raised their price objective on shares of McDonald’s from $308.00 to $322.00 and gave the company a “neutral” rating in a research report on Monday, October 21st. Guggenheim downgraded shares of McDonald’s from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $290.00 to $285.00 in a research report on Wednesday. Wells Fargo & Company raised their price objective on shares of McDonald’s from $285.00 to $350.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. 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 research report on Wednesday, October 2nd. Finally, Evercore ISI raised their price objective on shares of McDonald’s from $320.00 to $340.00 and gave the company an “outperform” rating in a research report on Tuesday, October 15th. Thirteen research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $318.22.

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.