Advisors Asset Management Inc. Reduces Stock Holdings in McDonald's Co. (NYSE:MCD)

Advisors Asset Management Inc. lessened its holdings in shares of McDonald's Co. (NYSE:MCD - Free Report) by 15.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 40,738 shares of the fast-food giant's stock after selling 7,520 shares during the quarter. Advisors Asset Management Inc.'s holdings in McDonald's were worth $12,405,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MCD. Hara Capital LLC bought a new stake in shares of McDonald's during the 3rd quarter valued at about $44,000. Kings Path Partners LLC purchased a new position in shares of McDonald's during the 2nd quarter worth approximately $38,000. Peterson Financial Group Inc. bought a new position in shares of McDonald's in the 3rd quarter worth approximately $58,000. Opal Wealth Advisors LLC bought a new position in shares of McDonald's in the 2nd quarter worth approximately $59,000. Finally, Bbjs Financial Advisors LLC purchased a new position in shares of McDonald's in the 2nd quarter valued at approximately $65,000. Institutional investors own 70.29% of the company's stock.

McDonald's Stock Performance

Shares of MCD stock traded up $0.16 during mid-day trading on Wednesday, reaching $290.89. 2,524,679 shares of the company's stock traded hands, compared to its average volume of 3,497,092. McDonald's Co. has a 12 month low of $243.53 and a 12 month high of $317.90. The firm has a 50 day moving average price of $300.04 and a two-hundred day moving average price of $277.75. The firm has a market capitalization of $208.46 billion, a PE ratio of 25.55, a price-to-earnings-growth ratio of 3.89 and a beta of 0.74.

McDonald's (NYSE:MCD - Get Free Report) last posted its quarterly earnings data 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. The firm had revenue of $6.87 billion for the quarter, compared to analysts' expectations of $6.82 billion. McDonald's had a negative return on equity of 175.42% and a net margin of 31.79%. The business's quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the firm earned $3.19 EPS. As a group, equities analysts expect that McDonald's Co. will post 11.77 earnings per share for the current fiscal year.

McDonald's Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a $1.77 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This is a boost from McDonald's's previous quarterly dividend of $1.67. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.43%. McDonald's's dividend payout ratio is 62.16%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on MCD shares. Morgan Stanley increased their price objective on McDonald's from $296.00 to $340.00 and gave the stock an "overweight" rating in a report on Tuesday, October 15th. Jefferies Financial Group lifted their price target on shares of McDonald's from $310.00 to $330.00 and gave the company a "buy" rating in a research report on Monday, September 9th. Tigress Financial upped their price objective on shares of McDonald's from $355.00 to $360.00 and gave the stock a "buy" rating in a report on Tuesday, September 3rd. TD Cowen reiterated a "hold" rating and set a $300.00 target price on shares of McDonald's in a report on Tuesday, October 29th. Finally, Barclays boosted their price target on McDonald's from $300.00 to $325.00 and gave the stock an "overweight" rating in a research report on Tuesday, October 22nd. Thirteen research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $319.46.

Insider Activity

In other news, insider Joseph M. Erlinger sold 1,098 shares of the business's stock in a transaction on 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 owns 12,583 shares of the company's stock, valued at approximately $3,632,712.10. The trade was a 8.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Marion K. Gross sold 1,498 shares of McDonald's stock in a transaction on Tuesday, September 3rd. The shares were 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 in the company, valued at approximately $446,721.60. This represents a 48.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 35,596 shares of company stock worth $10,698,289 in the last three months. Company insiders own 0.23% of the company's stock.

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.