Audent Global Asset Management LLC Sells 3,352 Shares of McDonald’s Co. (NYSE:MCD)

Audent Global Asset Management LLC trimmed its holdings in McDonald’s Co. (NYSE:MCD) by 72.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,270 shares of the fast-food giant’s stock after selling 3,352 shares during the period. Audent Global Asset Management LLC’s holdings in McDonald’s were worth $387,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Kennebec Savings Bank bought a new position in shares of McDonald’s in the third quarter valued at $1,394,000. Hantz Financial Services Inc. bought a new position in shares of McDonald’s during the second quarter valued at about $6,612,000. Charles Schwab Investment Management Inc. lifted its position in shares of McDonald’s by 0.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 5,564,359 shares of the fast-food giant’s stock valued at $1,694,403,000 after purchasing an additional 49,106 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in shares of McDonald’s by 58.9% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 138,102 shares of the fast-food giant’s stock valued at $35,194,000 after purchasing an additional 51,210 shares in the last quarter. Finally, U.S. Capital Wealth Advisors LLC lifted its position in shares of McDonald’s by 6.5% during the third quarter. U.S. Capital Wealth Advisors LLC now owns 49,186 shares of the fast-food giant’s stock valued at $14,978,000 after purchasing an additional 2,997 shares in the last quarter. 70.29% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Baird R W lowered shares of McDonald’s from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. Guggenheim lowered shares of McDonald’s from a “buy” rating to a “neutral” rating and dropped their price target for the company from $290.00 to $285.00 in a research report on Wednesday, October 23rd. Argus raised shares of McDonald’s from a “hold” rating to a “buy” rating in a research report on Tuesday, October 8th. Jefferies Financial Group raised their price target on shares of McDonald’s from $310.00 to $330.00 and gave the company a “buy” rating in a research report on Monday, September 9th. Finally, JPMorgan Chase & Co. raised their price objective on shares of McDonald’s from $270.00 to $290.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. Thirteen analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $319.64.

McDonald’s Trading Up 0.3 %

MCD stock opened at $296.01 on Monday. The firm has a 50 day moving average of $299.96 and a 200-day moving average of $279.04. 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 $212.13 billion, a P/E ratio of 25.99, a price-to-earnings-growth ratio of 3.94 and a beta of 0.74.

McDonald’s (NYSE:MCD) last released its quarterly earnings data on Tuesday, October 29th. The fast-food giant reported $3.23 EPS for the quarter, beating analysts’ consensus estimates of $3.18 by $0.05. McDonald’s had a net margin of 31.79% and a negative return on equity of 175.42%. The company had revenue of $6.87 billion during the quarter, compared to analyst estimates of $6.82 billion. During the same period last year, the business earned $3.19 earnings per share. McDonald’s’s revenue was up 2.7% compared to the same quarter last year. Sell-side analysts predict that McDonald’s Co. will post 11.77 EPS for the current year.

McDonald’s Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a dividend of $1.77 per share. The ex-dividend date 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 yield of 2.39%. McDonald’s’s payout ratio is presently 62.16%.

Insider Buying and Selling at McDonald’s

In other McDonald’s news, insider Joseph M. Erlinger sold 1,099 shares of McDonald’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $298.57, for a total transaction of $328,128.43. Following the completion of the sale, the insider now directly owns 11,484 shares in the company, valued at $3,428,777.88. The trade was a 8.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Marion K. Gross sold 1,498 shares of the business’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 owns 1,560 shares of the company’s stock, valued at approximately $446,721.60. The trade was a 48.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 35,597 shares of company stock worth $10,702,754 over the last three months. 0.23% of the stock is owned by 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.