Arete Wealth Advisors LLC trimmed its holdings in shares of McDonald's Co. (NYSE:MCD - Free Report) by 7.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 34,466 shares of the fast-food giant's stock after selling 2,728 shares during the period. McDonald's makes up approximately 0.9% of Arete Wealth Advisors LLC's investment portfolio, making the stock its 22nd largest holding. Arete Wealth Advisors LLC's holdings in McDonald's were worth $10,460,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also modified their holdings of the company. International Assets Investment Management LLC increased its position in shares of McDonald's by 31,151.1% in the third quarter. International Assets Investment Management LLC now owns 2,319,142 shares of the fast-food giant's stock worth $706,202,000 after acquiring an additional 2,311,721 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its stake in McDonald's by 542.9% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 801,858 shares of the fast-food giant's stock worth $244,174,000 after purchasing an additional 677,139 shares during the period. Mondrian Investment Partners LTD purchased a new position in McDonald's during the 2nd quarter worth approximately $110,321,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in McDonald's during the 3rd quarter valued at $121,254,000. Finally, Ameriprise Financial Inc. lifted its holdings in shares of McDonald's by 8.0% in the second quarter. Ameriprise Financial Inc. now owns 4,761,625 shares of the fast-food giant's stock valued at $1,216,677,000 after purchasing an additional 354,196 shares in the last quarter. 70.29% of the stock is currently owned by institutional investors.
In other McDonald's news, insider Joseph M. Erlinger sold 1,099 shares of McDonald's stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $298.57, for a total transaction of $328,128.43. Following the sale, the insider now owns 11,484 shares in the company, valued at $3,428,777.88. The trade was a 8.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Marion K. Gross sold 1,499 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $294.51, for a total transaction of $441,470.49. Following the completion of the transaction, the executive vice president now owns 1,560 shares of the company's stock, valued at approximately $459,435.60. This represents a 49.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 34,099 shares of company stock worth $10,273,786 in the last ninety days. Insiders own 0.23% of the company's stock.
MCD has been the topic of several research analyst reports. The Goldman Sachs Group lifted their target price on McDonald's from $284.00 to $325.00 and gave the company a "neutral" rating in a research note on Tuesday, September 24th. Wedbush reaffirmed an "outperform" rating and set a $295.00 price objective on shares of McDonald's in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. increased their target price on shares of McDonald's from $270.00 to $290.00 and gave the stock an "overweight" rating in a research report on Monday, September 16th. Evercore ISI lifted their target price 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. Finally, Tigress Financial upped their price target on shares of McDonald's from $355.00 to $360.00 and gave the stock a "buy" rating in a research note on Tuesday, September 3rd. 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.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $319.64.
Check Out Our Latest Stock Report on MCD
McDonald's stock opened at $300.76 on Wednesday. McDonald's Co. has a 52 week low of $243.53 and a 52 week high of $317.90. The firm has a market capitalization of $215.53 billion, a PE ratio of 26.41, a PEG ratio of 4.01 and a beta of 0.73. The business's 50-day simple moving average is $299.37 and its 200-day simple moving average is $280.30.
McDonald's (NYSE:MCD - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 EPS for the quarter, topping the consensus estimate of $3.18 by $0.05. McDonald's had a negative return on equity of 175.42% and a net margin of 31.79%. The company had revenue of $6.87 billion for the quarter, compared to the consensus estimate of $6.82 billion. During the same period in the previous year, the business posted $3.19 EPS. The company's revenue for the quarter was up 2.7% on a year-over-year basis. Research analysts forecast that McDonald's Co. will post 11.77 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a dividend of $1.77 per share. This is a boost from McDonald's's previous quarterly dividend of $1.67. This represents a $7.08 annualized dividend and a yield of 2.35%. The ex-dividend date is Monday, December 2nd. McDonald's's dividend payout ratio is presently 62.16%.
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.
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