CPA Asset Management LLC Has $3.32 Million Holdings in McDonald’s Co. (NYSE:MCD)

CPA Asset Management LLC trimmed its position in McDonald’s Co. (NYSE:MCD) by 0.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,916 shares of the fast-food giant’s stock after selling 100 shares during the quarter. McDonald’s accounts for 1.6% of CPA Asset Management LLC’s portfolio, making the stock its 17th largest position. CPA Asset Management LLC’s holdings in McDonald’s were worth $3,324,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Dixon Mitchell Investment Counsel Inc. acquired a new position in McDonald’s during the 1st quarter worth $28,000. Kings Path Partners LLC acquired a new position in shares of McDonald’s in the 2nd quarter valued at $38,000. Keener Financial Planning LLC grew its stake in shares of McDonald’s by 32.3% during the first quarter. Keener Financial Planning LLC now owns 176 shares of the fast-food giant’s stock worth $50,000 after purchasing an additional 43 shares during the period. Opal Wealth Advisors LLC acquired a new position in shares of McDonald’s during the 2nd quarter worth about $59,000. Finally, Bbjs Financial Advisors LLC acquired a new stake in shares of McDonald’s in the 2nd quarter valued at approximately $65,000. Institutional investors and hedge funds own 70.29% of the company’s stock.

Insider Transactions at McDonald’s

In other news, insider Joseph M. Erlinger sold 1,098 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $288.70, for a total transaction of $316,992.60. Following the transaction, the insider now owns 12,583 shares in the company, valued at approximately $3,632,712.10. This trade represents 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 accessible through this link. In related news, insider Joseph M. Erlinger sold 1,098 shares of the company’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 transaction, the insider now directly owns 12,583 shares in the company, valued at approximately $3,632,712.10. 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. Also, EVP Marion K. Gross sold 1,498 shares of McDonald’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $286.36, for a total transaction of $428,967.28. Following the completion of the sale, the executive vice president now owns 1,560 shares of the company’s stock, valued at $446,721.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 32,998 shares of company stock worth $9,935,493 over the last quarter. Company insiders own 0.23% of the company’s stock.

McDonald’s Stock Down 0.1 %

Shares of NYSE MCD opened at $314.65 on Wednesday. McDonald’s Co. has a twelve month low of $243.53 and a twelve month high of $317.90. The company has a market cap of $226.76 billion, a PE ratio of 26.71, a price-to-earnings-growth ratio of 4.05 and a beta of 0.73. The business’s 50 day moving average price is $296.41 and its two-hundred day moving average price is $274.34.

McDonald’s (NYSE:MCD) last posted its quarterly earnings results on Monday, July 29th. The fast-food giant reported $2.97 earnings per share 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 business had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $6.62 billion. During the same quarter last year, the company posted $3.17 EPS. The firm’s revenue was down .1% on a year-over-year basis. As a group, research analysts anticipate that McDonald’s Co. will post 11.71 EPS for the current fiscal year.

McDonald’s Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a dividend of $1.77 per share. The ex-dividend date of this dividend 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 2.25%. McDonald’s’s dividend payout ratio (DPR) is 60.10%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on MCD. The Goldman Sachs Group upped 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. KeyCorp increased their target price on McDonald’s from $305.00 to $330.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Evercore ISI lifted their price target on shares of McDonald’s from $320.00 to $340.00 and gave the company an “outperform” rating in a research note on Tuesday, October 15th. Tigress Financial increased their price objective on shares of McDonald’s from $355.00 to $360.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Finally, Robert W. Baird increased their target price on McDonald’s from $280.00 to $320.00 and gave the stock an “outperform” rating in a report on Thursday, September 26th. Ten research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $319.52.

About McDonald’s

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.