Pingora Partners LLC Sells 42 Shares of McDonald’s Co. (NYSE:MCD)

by · The Markets Daily

Pingora Partners LLC lowered its position in McDonald’s Co. (NYSE:MCD – Free Report) by 1.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,142 shares of the fast-food giant’s stock after selling 42 shares during the quarter. McDonald’s accounts for approximately 0.7% of Pingora Partners LLC’s investment portfolio, making the stock its 29th largest position. Pingora Partners LLC’s holdings in McDonald’s were worth $957,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of MCD. Steigerwald Gordon & Koch Inc. boosted its holdings in McDonald’s by 2.4% in the 3rd quarter. Steigerwald Gordon & Koch Inc. now owns 1,422 shares of the fast-food giant’s stock valued at $433,000 after purchasing an additional 33 shares during the last quarter. Riversedge Advisors LLC raised its position in shares of McDonald’s by 2.0% during the 3rd quarter. Riversedge Advisors LLC now owns 1,686 shares of the fast-food giant’s stock valued at $513,000 after buying an additional 33 shares during the period. Proquility Private Wealth Partners LLC raised its position in shares of McDonald’s by 1.0% during the 3rd quarter. Proquility Private Wealth Partners LLC now owns 3,472 shares of the fast-food giant’s stock valued at $1,057,000 after buying an additional 35 shares during the period. Clear Creek Financial Management LLC lifted its holdings in McDonald’s by 2.8% in the third quarter. Clear Creek Financial Management LLC now owns 1,300 shares of the fast-food giant’s stock valued at $396,000 after acquiring an additional 35 shares during the last quarter. Finally, GDS Wealth Management raised its position in McDonald’s by 1.4% in the third quarter. GDS Wealth Management now owns 2,504 shares of the fast-food giant’s stock valued at $762,000 after purchasing an additional 35 shares during the period. Institutional investors own 70.29% of the company’s stock.

McDonald’s Trading Up 0.7 %

Shares of NYSE:MCD opened at $294.50 on Wednesday. The firm has a 50 day simple moving average of $299.72 and a 200-day simple moving average of $279.33. McDonald’s Co. has a twelve month low of $243.53 and a twelve month high of $317.90. The company has a market capitalization of $211.04 billion, a PE ratio of 25.86, a P/E/G ratio of 3.89 and a beta of 0.73.

McDonald’s (NYSE:MCD – Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share for the quarter, beating 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 firm had revenue of $6.87 billion during the quarter, compared to analysts’ expectations of $6.82 billion. During the same period in the previous year, the company earned $3.19 earnings per share. McDonald’s’s quarterly revenue was up 2.7% compared to the same quarter last year. As a group, equities research analysts predict that McDonald’s Co. will post 11.77 EPS for the current fiscal year.

McDonald’s Increases Dividend

The firm 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 dividend of $1.77 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $7.08 dividend on an annualized basis and a yield of 2.40%. This is a boost from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s dividend payout ratio is currently 62.16%.

Insider Buying and Selling at McDonald’s

In other McDonald’s news, CMO Edith Morgan Flatley sold 2,346 shares of the business’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 transaction, the chief marketing officer now directly owns 2,905 shares of the company’s stock, valued at approximately $900,550. The trade was a 44.68 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Joseph M. Erlinger sold 1,099 shares of the stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $298.57, for a total transaction of $328,128.43. Following the transaction, the insider now directly owns 11,484 shares of the company’s stock, valued at $3,428,777.88. This represents a 8.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,099 shares of company stock worth $10,273,786. 0.23% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on MCD. Robert W. Baird lowered shares of McDonald’s from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $320.00 to $290.00 in a report on Wednesday, October 23rd. Baird R W lowered shares of McDonald’s from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 23rd. UBS Group lifted their target price on shares of McDonald’s from $305.00 to $345.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Bank of America upped their price target on McDonald’s from $321.00 to $324.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Finally, Evercore ISI lifted their price objective on McDonald’s from $320.00 to $340.00 and gave the company an “outperform” rating in a research note on Tuesday, October 15th. Thirteen equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, McDonald’s presently has a consensus rating of “Moderate Buy” and a consensus price target of $319.64.

Read Our Latest Stock Report on MCD

McDonald’s Company Profile

(Free Report)

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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