McDonald’s Co. (NYSE:MCD) Shares Sold by Plato Investment Management Ltd

Plato Investment Management Ltd cut its stake in McDonald’s Co. (NYSE:MCD) by 0.2% in the third quarter, HoldingsChannel reports. The institutional investor owned 17,511 shares of the fast-food giant’s stock after selling 36 shares during the quarter. Plato Investment Management Ltd’s holdings in McDonald’s were worth $5,327,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Kings Path Partners LLC purchased a new stake in McDonald’s during the second quarter worth $38,000. Hara Capital LLC purchased a new stake in shares of McDonald’s in the 3rd quarter worth about $44,000. Opal Wealth Advisors LLC acquired a new stake in McDonald’s in the 2nd quarter valued at about $59,000. Bbjs Financial Advisors LLC purchased a new position in McDonald’s during the 2nd quarter valued at about $65,000. Finally, Macroview Investment Management LLC raised its position in McDonald’s by 433.3% during 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 during the last quarter. 70.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CMO Edith Morgan Flatley sold 2,346 shares of the company’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 sale, the chief marketing officer now directly owns 2,905 shares of the company’s stock, valued at $900,550. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other McDonald’s news, CMO Edith Morgan Flatley sold 2,346 shares of the stock in a transaction that occurred 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 owns 2,905 shares of the company’s stock, valued at $900,550. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Joseph M. Erlinger sold 1,098 shares of McDonald’s stock in a transaction that occurred on Friday, August 23rd. The stock was 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 approximately $3,632,712.10. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 35,596 shares of company stock worth $10,698,289. 0.23% of the stock is currently owned by insiders.

McDonald’s Stock Performance

Shares of NYSE:MCD opened at $297.24 on Thursday. The company has a market cap of $213.01 billion, a P/E ratio of 26.10, a PEG ratio of 3.97 and a beta of 0.74. McDonald’s Co. has a one year low of $243.53 and a one year high of $317.90. The business’s 50-day simple moving average is $299.60 and its 200 day simple moving average is $277.00.

McDonald’s (NYSE:MCD) last posted its earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 EPS for the quarter, topping 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 business had revenue of $6.87 billion for the quarter, compared to analysts’ expectations of $6.82 billion. During the same period in the previous year, the company posted $3.19 earnings per share. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. Analysts predict that McDonald’s Co. will post 11.77 earnings per share for the current year.

McDonald’s Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a dividend of $1.77 per share. The ex-dividend date is Monday, December 2nd. This is an increase from McDonald’s’s previous quarterly dividend of $1.67. This represents a $7.08 annualized dividend and a yield of 2.38%. McDonald’s’s payout ratio is currently 58.65%.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Morgan Stanley increased their price target on shares of McDonald’s from $296.00 to $340.00 and gave the company an “overweight” rating in a research report on Tuesday, October 15th. KeyCorp raised their price target on McDonald’s from $305.00 to $330.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Wells Fargo & Company increased their price objective on McDonald’s from $285.00 to $350.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Loop Capital reiterated a “buy” rating on shares of McDonald’s in a research report on Friday, October 18th. Finally, JPMorgan Chase & Co. upped their target price 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. Thirteen analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat, McDonald’s has an average rating of “Moderate Buy” and an average target price of $319.46.

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.