McDonald’s Co. (NYSE:MCD) Shares Sold by Miramar Capital LLC

Miramar Capital LLC cut its holdings in McDonald’s Co. (NYSE:MCD) by 0.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 53,491 shares of the fast-food giant’s stock after selling 200 shares during the period. McDonald’s accounts for approximately 3.8% of Miramar Capital LLC’s portfolio, making the stock its 9th biggest holding. Miramar Capital LLC’s holdings in McDonald’s were worth $16,289,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Kings Path Partners LLC acquired a new position in shares of McDonald’s in the 2nd quarter valued at approximately $38,000. Hara Capital LLC purchased a new position in McDonald’s in the third quarter worth $44,000. Opal Wealth Advisors LLC bought a new position in shares of McDonald’s during the 2nd quarter worth $59,000. Bbjs Financial Advisors LLC bought a new position in McDonald’s in the 2nd quarter valued at $65,000. Finally, Macroview Investment Management LLC grew its position in McDonald’s by 433.3% in the second quarter. Macroview Investment Management LLC now owns 256 shares of the fast-food giant’s stock worth $65,000 after acquiring an additional 208 shares in the last quarter. Institutional investors own 70.29% of the company’s stock.

McDonald’s Stock Performance

McDonald’s stock opened at $292.52 on Friday. 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 $209.63 billion, a PE ratio of 25.68, a PEG ratio of 3.95 and a beta of 0.74. The business’s 50-day simple moving average is $300.06 and its 200-day simple moving average is $277.42.

McDonald’s (NYSE:MCD) last released its quarterly earnings results 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. The firm had revenue of $6.87 billion for the quarter, compared to analyst estimates of $6.82 billion. McDonald’s had a net margin of 31.79% and a negative return on equity of 175.42%. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the previous year, the business earned $3.19 earnings per share. Research analysts forecast that McDonald’s Co. will post 11.77 earnings per share for the current year.

McDonald’s Increases Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $7.08 dividend on an annualized basis and a yield of 2.42%. This is a positive change from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s payout ratio is presently 58.65%.

Analysts Set New Price Targets

A number of brokerages recently commented on MCD. Citigroup upped their target price on McDonald’s from $301.00 to $317.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Baird R W cut McDonald’s from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. increased their price objective on shares of McDonald’s from $270.00 to $290.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Tigress Financial lifted their price target on shares of McDonald’s from $355.00 to $360.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Finally, TD Cowen reiterated a “hold” rating and issued a $300.00 target price on shares of McDonald’s in a report on Tuesday, October 29th. Thirteen analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $319.46.

Insider Buying and Selling

In other McDonald’s news, EVP Marion K. Gross sold 1,498 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 1,560 shares in the company, valued at $446,721.60. The trade was a 48.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Joseph M. Erlinger sold 1,098 shares of the stock in a transaction on 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 transaction, the insider now owns 12,583 shares of the company’s stock, valued at $3,632,712.10. The trade was a 8.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 35,596 shares of company stock valued at $10,698,289. Company insiders own 0.23% of the company’s stock.

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.