Balboa Wealth Partners Sells 94 Shares of McDonald’s Co. (NYSE:MCD)

Balboa Wealth Partners lowered its stake in McDonald’s Co. (NYSE:MCD) by 3.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 2,576 shares of the fast-food giant’s stock after selling 94 shares during the period. Balboa Wealth Partners’ holdings in McDonald’s were worth $747,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. United Bank grew its stake in shares of McDonald’s by 3.5% in the third quarter. United Bank now owns 6,446 shares of the fast-food giant’s stock worth $1,963,000 after purchasing an additional 218 shares during the last quarter. Baillie Gifford & Co. lifted its holdings in McDonald’s by 18.3% in the 3rd quarter. Baillie Gifford & Co. now owns 138,155 shares of the fast-food giant’s stock worth $42,070,000 after buying an additional 21,376 shares during the period. Souders Financial Advisors lifted its holdings in McDonald’s by 235.5% in 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 during the period. Gibson Wealth Advisors LLC bought a new stake in shares of McDonald’s in the 3rd quarter worth approximately $209,000. Finally, GHE LLC increased its stake in shares of McDonald’s by 1.5% during the third quarter. GHE LLC now owns 14,541 shares of the fast-food giant’s stock valued at $4,363,000 after buying an additional 213 shares during the period. Hedge funds and other institutional investors own 70.29% of the company’s stock.

McDonald’s Price Performance

Shares of NYSE:MCD opened at $299.40 on Thursday. The company has a market cap of $213.91 billion, a P/E ratio of 26.29, a PEG ratio of 3.10 and a beta of 0.71. McDonald’s Co. has a 1 year low of $243.53 and a 1 year high of $326.32. The stock’s fifty day moving average price is $296.76 and its 200-day moving average price is $296.70.

McDonald’s (NYSE:MCD) last announced its quarterly earnings results on Monday, February 10th. The fast-food giant reported $2.83 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.83. McDonald’s had a negative return on equity of 181.63% and a net margin of 31.73%. On average, sell-side analysts anticipate that McDonald’s Co. will post 12.25 earnings per share for the current year.

McDonald’s Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be issued a dividend of $1.77 per share. The ex-dividend date is Monday, March 3rd. This represents a $7.08 annualized dividend and a dividend yield of 2.36%. McDonald’s’s payout ratio is 62.16%.

Insider Activity

In other news, EVP Tiffanie L. Boyd sold 1,000 shares of the stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $309.27, for a total transaction of $309,270.00. Following the transaction, the executive vice president now directly owns 5,564 shares of the company’s stock, valued at $1,720,778.28. This represents a 15.23 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Joseph M. Erlinger sold 300 shares of the stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $280.75, for a total value of $84,225.00. Following the transaction, the insider now directly owns 7,887 shares in the company, valued at $2,214,275.25. The trade was a 3.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 33,504 shares of company stock valued at $10,206,575 in the last ninety days. 0.23% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Bank of America upped their price objective on shares of McDonald’s from $312.00 to $316.00 and gave the stock a “neutral” rating in a report on Tuesday, February 11th. TD Securities restated a “hold” rating and set a $300.00 target price on shares of McDonald’s in a report on Monday, February 10th. Citigroup increased their price target on shares of McDonald’s from $336.00 to $360.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. Wedbush boosted their price objective on shares of McDonald’s from $320.00 to $330.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 11th. Finally, Robert W. Baird boosted their price objective on shares of McDonald’s from $305.00 to $310.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 11th. Ten research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, McDonald’s has an average rating of “Moderate Buy” and a consensus price target of $323.61.

McDonald’s Company Profile

McDonald’s Corp. engages in the operation and franchising of restaurants. It operates through the following segments: U.S., International Operated Markets, and International Developmental Licensed Markets and Corporate. The U.S. segment focuses its operations on the United States. The International Operated Markets segment consists of operations and the franchising of restaurants in Australia, Canada, France, Germany, Italy, the Netherlands, Spain, and the U.K.