Eagle Ridge Investment Management Sells 371 Shares of McDonald’s Co. (NYSE:MCD)

Eagle Ridge Investment Management decreased its holdings in shares of McDonald’s Co. (NYSE:MCD) by 10.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,180 shares of the fast-food giant’s stock after selling 371 shares during the quarter. Eagle Ridge Investment Management’s holdings in McDonald’s were worth $968,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of MCD. Steigerwald Gordon & Koch Inc. increased its stake in McDonald’s by 2.4% during 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 in the last quarter. Riversedge Advisors LLC grew its holdings in shares of McDonald’s by 2.0% during the third 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 last quarter. Proquility Private Wealth Partners LLC increased its position in shares of McDonald’s by 1.0% during the third quarter. Proquility Private Wealth Partners LLC now owns 3,472 shares of the fast-food giant’s stock worth $1,057,000 after acquiring an additional 35 shares in the last quarter. Founders Financial Alliance LLC raised its holdings in shares of McDonald’s by 0.7% in the 2nd quarter. Founders Financial Alliance LLC now owns 4,980 shares of the fast-food giant’s stock worth $1,269,000 after acquiring an additional 36 shares during the last quarter. Finally, McAdam LLC lifted its position in McDonald’s by 1.7% in the 3rd quarter. McAdam LLC now owns 2,176 shares of the fast-food giant’s stock valued at $663,000 after acquiring an additional 36 shares in the last quarter. Institutional investors and hedge funds own 70.29% of the company’s stock.

McDonald’s Stock Performance

Shares of NYSE MCD opened at $301.61 on Friday. The stock has a fifty day moving average of $296.97 and a 200-day moving average of $274.51. The stock has a market cap of $217.36 billion, a PE ratio of 25.60, a price-to-earnings-growth ratio of 4.05 and a beta of 0.73. McDonald’s Co. has a fifty-two week low of $243.53 and a fifty-two week high of $317.90.

McDonald’s (NYSE:MCD) last posted its 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 company had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.62 billion. During the same period in the previous year, the firm earned $3.17 EPS. The firm’s quarterly revenue was down .1% compared to the same quarter last year. On average, sell-side analysts predict that McDonald’s Co. will post 11.71 EPS for the current year.

McDonald’s Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a dividend of $1.77 per share. This represents a $7.08 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date is Monday, December 2nd. This is a positive change from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s dividend payout ratio is 60.10%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on MCD. Robert W. Baird lowered McDonald’s from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $320.00 to $290.00 in a report on Wednesday. Deutsche Bank Aktiengesellschaft lowered their price target on McDonald’s from $295.00 to $290.00 and set a “buy” rating for the company in a research report on Tuesday, July 30th. KeyCorp raised their price objective on McDonald’s from $305.00 to $330.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Jefferies Financial Group upped their target price on shares of McDonald’s from $310.00 to $330.00 and gave the stock a “buy” rating in a research note on Monday, September 9th. Finally, Barclays raised their price target on shares of McDonald’s from $300.00 to $325.00 and gave the company an “overweight” rating in a research report on Tuesday. Thirteen analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $318.22.

Insiders Place Their Bets

In other 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 transaction of $727,260.00. Following the completion of the transaction, the chief marketing officer now directly owns 2,905 shares in the company, valued at $900,550. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other McDonald’s news, CMO Edith Morgan Flatley sold 2,346 shares of the firm’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $310.00, for a total value of $727,260.00. Following the sale, the chief marketing officer now owns 2,905 shares of the company’s stock, valued at $900,550. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Joseph M. Erlinger sold 1,098 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was 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 of the company’s stock, valued at $3,632,712.10. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 32,998 shares of company stock worth $9,935,493 in the last three months. 0.23% of the stock is currently owned by corporate insiders.

McDonald’s Company 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.