Harbour Trust & Investment Management Co Trims Holdings in McDonald’s Co. (NYSE:MCD)

Harbour Trust & Investment Management Co cut its holdings in McDonald’s Co. (NYSE:MCD) by 1.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 57,758 shares of the fast-food giant’s stock after selling 826 shares during the quarter. McDonald’s makes up about 2.0% of Harbour Trust & Investment Management Co’s holdings, making the stock its 11th biggest holding. Harbour Trust & Investment Management Co’s holdings in McDonald’s were worth $17,588,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Legal & General Group Plc grew its position in shares of McDonald’s by 3.2% in the 2nd quarter. Legal & General Group Plc now owns 6,149,080 shares of the fast-food giant’s stock worth $1,567,030,000 after buying an additional 188,888 shares during the period. Capital Research Global Investors grew its position in shares of McDonald’s by 66.9% in the 1st quarter. Capital Research Global Investors now owns 5,471,007 shares of the fast-food giant’s stock worth $1,542,550,000 after buying an additional 2,193,769 shares during the period. Ameriprise Financial Inc. grew its position in shares of McDonald’s by 8.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 4,761,625 shares of the fast-food giant’s stock worth $1,216,677,000 after buying an additional 354,196 shares during the period. Capital World Investors grew its position in shares of McDonald’s by 39.7% in the 1st quarter. Capital World Investors now owns 3,565,398 shares of the fast-food giant’s stock worth $1,005,264,000 after buying an additional 1,012,534 shares during the period. Finally, International Assets Investment Management LLC grew its position in McDonald’s by 31,151.1% during the 3rd quarter. International Assets Investment Management LLC now owns 2,319,142 shares of the fast-food giant’s stock valued at $706,202,000 after purchasing an additional 2,311,721 shares during the last quarter. 70.29% of the stock is owned by hedge funds and other institutional investors.

McDonald’s Price Performance

Shares of MCD opened at $301.61 on Friday. McDonald’s Co. has a 1 year low of $243.53 and a 1 year high of $317.90. The company has a 50 day simple moving average of $296.97 and a two-hundred day simple moving average of $274.51. The firm has a market cap of $217.36 billion, a P/E ratio of 25.60, a price-to-earnings-growth ratio of 4.05 and a beta of 0.73.

McDonald’s (NYSE:MCD) last announced its quarterly earnings data on Monday, July 29th. The fast-food giant reported $2.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.10). McDonald’s had a net margin of 32.25% and a negative return on equity of 178.68%. The company had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.62 billion. During the same period last year, the business earned $3.17 earnings per share. The company’s quarterly revenue was down .1% compared to the same quarter last year. On average, sell-side analysts anticipate that McDonald’s Co. will post 11.71 earnings per share for the current year.

McDonald’s Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a $1.77 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This is a positive change from McDonald’s’s previous quarterly dividend of $1.67. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.35%. McDonald’s’s dividend payout ratio (DPR) is 60.10%.

Analyst Ratings Changes

Several analysts recently commented on the stock. Argus raised shares of McDonald’s from a “hold” rating to a “buy” rating in a research report on Tuesday, October 8th. Baird R W downgraded shares of McDonald’s from a “strong-buy” rating to a “hold” rating in a research report on Wednesday. Barclays increased their price objective on shares of McDonald’s from $300.00 to $325.00 and gave the company an “overweight” rating in a research report on Tuesday. The Goldman Sachs Group increased their price objective on shares of McDonald’s from $284.00 to $325.00 and gave the company a “neutral” rating in a research report on Tuesday, September 24th. Finally, KeyCorp upped their target price on shares of McDonald’s from $305.00 to $330.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Thirteen research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to MarketBeat, McDonald’s has a consensus rating of “Moderate Buy” and a consensus price target of $318.22.

Insider Activity at McDonald’s

In related news, CMO Edith Morgan Flatley sold 2,346 shares of the firm’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $310.00, for a total value of $727,260.00. Following the completion of the transaction, the chief marketing officer now directly owns 2,905 shares of the company’s stock, valued at approximately $900,550. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other McDonald’s news, CEO Christopher J. Kempczinski sold 11,727 shares of McDonald’s stock in a transaction 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 $14,966,996.55. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CMO Edith Morgan Flatley sold 2,346 shares of McDonald’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $310.00, for a total transaction of $727,260.00. Following the transaction, the chief marketing officer now directly owns 2,905 shares of the company’s stock, valued at $900,550. The trade was 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 sold 32,998 shares of company stock valued at $9,935,493. 0.23% of the stock is owned by corporate insiders.

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.