Primoris Wealth Advisors LLC Lowers Stake in McDonald’s Co. (NYSE:MCD)

Primoris Wealth Advisors LLC reduced its position in McDonald’s Co. (NYSE:MCD) by 4.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,251 shares of the fast-food giant’s stock after selling 99 shares during the quarter. Primoris Wealth Advisors LLC’s holdings in McDonald’s were worth $685,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Steigerwald Gordon & Koch Inc. increased its stake in McDonald’s by 2.4% in the 3rd quarter. Steigerwald Gordon & Koch Inc. now owns 1,422 shares of the fast-food giant’s stock worth $433,000 after buying an additional 33 shares in the last quarter. Riversedge Advisors LLC grew its position in shares of McDonald’s by 2.0% during the third quarter. Riversedge Advisors LLC now owns 1,686 shares of the fast-food giant’s stock worth $513,000 after purchasing an additional 33 shares in the last quarter. Proquility Private Wealth Partners LLC raised its stake in McDonald’s by 1.0% during the 3rd quarter. Proquility Private Wealth Partners LLC now owns 3,472 shares of the fast-food giant’s stock valued at $1,057,000 after purchasing an additional 35 shares during the period. Clear Creek Financial Management LLC lifted its holdings in McDonald’s by 2.8% in the 3rd quarter. Clear Creek Financial Management LLC now owns 1,300 shares of the fast-food giant’s stock worth $396,000 after purchasing an additional 35 shares in the last quarter. Finally, Founders Financial Alliance LLC boosted its stake in McDonald’s by 0.7% in the 2nd quarter. Founders Financial Alliance LLC now owns 4,980 shares of the fast-food giant’s stock worth $1,269,000 after purchasing an additional 36 shares during the period. 70.29% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at McDonald’s

In other McDonald’s news, CEO Christopher J. Kempczinski sold 11,727 shares of the company’s stock in a transaction that occurred on 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 owns 49,885 shares in the company, valued at approximately $14,966,996.55. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other McDonald’s news, CEO Christopher J. Kempczinski sold 11,727 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now directly owns 49,885 shares of the company’s stock, valued at approximately $14,966,996.55. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Christopher J. Kempczinski sold 9,291 shares of the stock in a transaction on Friday, September 27th. The stock was sold at an average price of $305.00, for a total transaction of $2,833,755.00. Following the completion of the sale, the chief executive officer now owns 43,256 shares in the company, valued at $13,193,080. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 35,596 shares of company stock worth $10,698,289. Insiders own 0.23% of the company’s stock.

Wall Street Analyst Weigh In

MCD has been the subject of a number of research reports. Bank of America upped their target price on shares of McDonald’s from $321.00 to $324.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Loop Capital reissued a “buy” rating on shares of McDonald’s in a report on Friday, October 18th. Wells Fargo & Company lifted their target price on McDonald’s from $285.00 to $350.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Baird R W lowered McDonald’s from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Finally, Stifel Nicolaus reduced their price objective on McDonald’s from $285.00 to $265.00 and set a “hold” rating on the stock in a research note on Monday, July 22nd. Thirteen investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat, McDonald’s currently has an average rating of “Moderate Buy” and an average price target of $319.46.

McDonald’s Price Performance

Shares of MCD stock traded up $4.31 during mid-day trading on Friday, hitting $298.97. 3,279,284 shares of the stock traded hands, compared to its average volume of 4,858,855. McDonald’s Co. has a 52-week low of $243.53 and a 52-week high of $317.90. The stock has a market cap of $214.46 billion, a P/E ratio of 26.25, a P/E/G ratio of 3.91 and a beta of 0.74. The stock’s fifty day moving average is $299.08 and its two-hundred day moving average is $276.64.

McDonald’s (NYSE:MCD) last announced 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 company had revenue of $6.87 billion during the quarter, compared to the consensus estimate of $6.82 billion. McDonald’s had a net margin of 31.79% and a negative return on equity of 178.99%. McDonald’s’s revenue was up 2.7% compared to the same quarter last year. During the same period last year, the firm earned $3.19 earnings per share. As a group, equities analysts forecast that McDonald’s Co. will post 11.77 EPS for the current fiscal year.

McDonald’s Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a $1.77 dividend. This represents a $7.08 annualized dividend and a yield of 2.37%. The ex-dividend date is Monday, December 2nd. This is an increase from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s dividend payout ratio (DPR) is currently 58.65%.

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.