Linscomb Wealth Inc. Sells 1,414 Shares of McDonald’s Co. (NYSE:MCD)

Linscomb Wealth Inc. reduced its stake in McDonald’s Co. (NYSE:MCD) by 3.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 39,540 shares of the fast-food giant’s stock after selling 1,414 shares during the quarter. McDonald’s comprises approximately 0.6% of Linscomb Wealth Inc.’s holdings, making the stock its 29th largest position. Linscomb Wealth Inc.’s holdings in McDonald’s were worth $12,040,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Kings Path Partners LLC bought a new stake in shares of McDonald’s in the 2nd quarter worth approximately $38,000. Hara Capital LLC purchased a new position in McDonald’s in the 3rd quarter worth approximately $44,000. Opal Wealth Advisors LLC purchased a new position in McDonald’s in the 2nd quarter worth approximately $59,000. Bbjs Financial Advisors LLC purchased a new position in McDonald’s in the 2nd quarter worth approximately $65,000. Finally, Macroview Investment Management LLC raised its holdings in McDonald’s by 433.3% in the 2nd quarter. Macroview Investment Management LLC now owns 256 shares of the fast-food giant’s stock worth $65,000 after acquiring an additional 208 shares during the last quarter. 70.29% of the stock is owned by institutional investors.

Insider Activity at McDonald’s

In related news, CMO Edith Morgan Flatley sold 2,346 shares of the firm’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 of the company’s stock, valued at approximately $900,550. This trade represents a 44.68 % 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, CEO Christopher J. Kempczinski sold 11,727 shares of the firm’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $300.03, for a total transaction of $3,518,451.81. Following the transaction, the chief executive officer now directly owns 49,885 shares of the company’s stock, valued at $14,966,996.55. The trade was a 19.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 35,596 shares of company stock valued at $10,698,289. Corporate insiders own 0.23% of the company’s stock.

McDonald’s Stock Performance

Shares of NYSE MCD traded down $2.65 during midday trading on Friday, reaching $295.91. The stock had a trading volume of 731,435 shares, compared to its average volume of 3,494,569. The stock has a 50-day moving average of $300.00 and a 200-day moving average of $277.29. The company has a market capitalization of $212.06 billion, a price-to-earnings ratio of 26.23, a price-to-earnings-growth ratio of 3.95 and a beta of 0.74. McDonald’s Co. has a 12-month low of $243.53 and a 12-month high of $317.90.

McDonald’s (NYSE:MCD) last announced its quarterly earnings data on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.18 by $0.05. The firm had revenue of $6.87 billion during the quarter, compared to analysts’ expectations of $6.82 billion. McDonald’s had a net margin of 31.79% and a negative return on equity of 175.42%. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the prior year, the company posted $3.19 earnings per share. As a group, analysts forecast that McDonald’s Co. will post 11.77 EPS for the current fiscal year.

McDonald’s Increases Dividend

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 represents a $7.08 annualized dividend and a yield of 2.39%. This is a boost from McDonald’s’s previous quarterly dividend of $1.67. The ex-dividend date is Monday, December 2nd. McDonald’s’s dividend payout ratio (DPR) is presently 58.65%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on MCD shares. JPMorgan Chase & Co. boosted their price objective on shares of McDonald’s from $270.00 to $290.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. The Goldman Sachs Group boosted their price objective on shares of McDonald’s from $284.00 to $325.00 and gave the stock a “neutral” rating in a report on Tuesday, September 24th. UBS Group boosted their price objective on shares of McDonald’s from $305.00 to $345.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of McDonald’s from $295.00 to $290.00 and set a “buy” rating for the company in a research note on Tuesday, July 30th. Finally, Bank of America boosted their target price on shares of McDonald’s from $321.00 to $324.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Thirteen equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $319.46.

McDonald’s 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.