McDonald’s Co. (NYSE:MCD) Shares Sold by Sumitomo Life Insurance Co.

Sumitomo Life Insurance Co. lessened its holdings in shares of McDonald’s Co. (NYSE:MCD) by 28.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 11,043 shares of the fast-food giant’s stock after selling 4,353 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in McDonald’s were worth $3,363,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Capital Research Global Investors lifted its holdings in shares of McDonald’s by 66.9% during 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 acquiring an additional 2,193,769 shares during the period. Swedbank AB acquired a new position in shares of McDonald’s in the 1st quarter valued at approximately $348,206,000. Capital World Investors boosted its stake in McDonald’s by 39.7% during the 1st quarter. Capital World Investors now owns 3,565,398 shares of the fast-food giant’s stock valued at $1,005,264,000 after acquiring an additional 1,012,534 shares during the last quarter. Mondrian Investment Partners LTD bought a new stake in shares of McDonald’s in the 2nd quarter valued at approximately $110,321,000. Finally, National Bank of Canada FI raised its holdings in shares of McDonald’s by 56.2% during the first quarter. National Bank of Canada FI now owns 1,123,132 shares of the fast-food giant’s stock worth $308,878,000 after purchasing an additional 403,958 shares during the period. Institutional investors and hedge funds own 70.29% of the company’s stock.

Insiders Place Their Bets

In related news, insider Joseph M. Erlinger sold 1,099 shares of the stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $260.00, for a total value of $285,740.00. Following the transaction, the insider now owns 13,681 shares of the company’s stock, valued at $3,557,060. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other McDonald’s news, insider Joseph M. Erlinger sold 1,098 shares of the firm’s stock in a transaction dated 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 sale, the insider now directly owns 12,583 shares in the company, valued at $3,632,712.10. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Joseph M. Erlinger sold 1,099 shares of the stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $260.00, for a total transaction of $285,740.00. Following the completion of the transaction, the insider now owns 13,681 shares of the company’s stock, valued at approximately $3,557,060. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 34,097 shares of company stock worth $10,221,233 in the last ninety days. 0.23% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on MCD. Loop Capital reissued a “buy” rating and set a $342.00 price target on shares of McDonald’s in a report on Tuesday, September 10th. Barclays reduced their price objective on shares of McDonald’s from $320.00 to $300.00 and set an “overweight” rating for the company in a research note on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft dropped their price target on McDonald’s from $295.00 to $290.00 and set a “buy” rating on the stock in a research report on Tuesday, July 30th. Citigroup lifted their price objective on McDonald’s from $301.00 to $317.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. Finally, TD Cowen reissued a “hold” rating and set a $280.00 target price on shares of McDonald’s in a research report on Monday, September 23rd. Ten research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat.com, McDonald’s currently has an average rating of “Moderate Buy” and a consensus price target of $314.92.

McDonald’s Stock Down 0.2 %

MCD stock traded down $0.76 during mid-day trading on Wednesday, reaching $312.58. 364,283 shares of the company traded hands, compared to its average volume of 3,354,939. The firm’s 50 day moving average price is $291.90 and its 200 day moving average price is $272.91. McDonald’s Co. has a fifty-two week low of $243.53 and a fifty-two week high of $315.36. The stock has a market cap of $225.27 billion, a price-to-earnings ratio of 26.60, a P/E/G ratio of 4.05 and a beta of 0.73.

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

McDonald’s Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a dividend of $1.77 per share. 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 2.27%. The ex-dividend date of this dividend is Monday, December 2nd. McDonald’s’s payout ratio is 60.10%.

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.