Oppenheimer & Co. Inc. Sells 571 Shares of McDonald’s Co. (NYSE:MCD)

Oppenheimer & Co. Inc. reduced its stake in McDonald’s Co. (NYSE:MCD) by 1.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 52,733 shares of the fast-food giant’s stock after selling 571 shares during the period. Oppenheimer & Co. Inc.’s holdings in McDonald’s were worth $16,058,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the stock. GHE LLC grew its stake in shares of McDonald’s by 1.5% in the 3rd quarter. GHE LLC now owns 14,541 shares of the fast-food giant’s stock valued at $4,363,000 after purchasing an additional 213 shares during the period. Gibson Wealth Advisors LLC acquired a new position in McDonald’s during the 3rd quarter worth $209,000. Souders Financial Advisors lifted its holdings in McDonald’s by 235.5% during the 3rd quarter. Souders Financial Advisors now owns 14,160 shares of the fast-food giant’s stock worth $4,312,000 after buying an additional 9,940 shares in the last quarter. Private Wealth Advisors LLC acquired a new position in McDonald’s during the 3rd quarter worth $223,000. Finally, Aptus Capital Advisors LLC lifted its stake in shares of McDonald’s by 20.2% in the 3rd quarter. Aptus Capital Advisors LLC now owns 65,523 shares of the fast-food giant’s stock valued at $19,952,000 after purchasing an additional 10,999 shares during the period. 70.29% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Bank of America raised their price target on McDonald’s from $321.00 to $324.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. 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. Argus upgraded McDonald’s from a “hold” rating to a “buy” rating in a research report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft reduced 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. Finally, JPMorgan Chase & Co. raised their price target on McDonald’s from $270.00 to $290.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Thirteen investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat.com, McDonald’s presently has an average rating of “Moderate Buy” and a consensus target price of $319.46.

McDonald’s Trading Down 0.7 %

Shares of NYSE:MCD traded down $1.98 during trading on Wednesday, reaching $296.67. 234,211 shares of the stock were exchanged, compared to its average volume of 3,504,447. The firm has a market cap of $212.60 billion, a PE ratio of 26.22, a PEG ratio of 4.01 and a beta of 0.74. The stock has a 50-day moving average price of $299.60 and a 200-day moving average price of $277.00. McDonald’s Co. has a 12 month low of $243.53 and a 12 month high of $317.90.

McDonald’s (NYSE:MCD) last issued its quarterly earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.18 by $0.05. The business had revenue of $6.87 billion during the quarter, compared to analysts’ expectations of $6.82 billion. McDonald’s had a negative return on equity of 175.42% and a net margin of 31.79%. The firm’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 company posted $3.19 earnings per share. On average, sell-side analysts expect that McDonald’s Co. will post 11.77 earnings per share for the current fiscal year.

McDonald’s Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a $1.77 dividend. This is a boost from McDonald’s’s previous quarterly dividend of $1.67. This represents a $7.08 annualized dividend and a dividend yield of 2.39%. The ex-dividend date of this dividend is Monday, December 2nd. McDonald’s’s payout ratio is 58.65%.

Insider Activity at McDonald’s

In other McDonald’s news, CEO Christopher J. Kempczinski sold 11,727 shares of the business’s stock in a transaction that occurred 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 in the company, valued at $14,966,996.55. The trade was a 0.00 % 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. In other McDonald’s news, CEO Christopher J. Kempczinski sold 9,291 shares of the company’s stock in a transaction on Friday, September 27th. The shares were sold at an average price of $305.00, for a total transaction of $2,833,755.00. Following the sale, the chief executive officer now owns 43,256 shares of the company’s stock, valued at approximately $13,193,080. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Christopher J. Kempczinski sold 11,727 shares of the stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $300.03, for a total transaction of $3,518,451.81. Following the transaction, the chief executive officer now directly owns 49,885 shares in the company, valued at $14,966,996.55. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 35,596 shares of company stock worth $10,698,289. Company insiders own 0.23% of the company’s stock.

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.