Bard Financial Services Inc. Sells 43,759 Shares of McDonald's Co. (NYSE:MCD)

Bard Financial Services Inc. cut its stake in shares of McDonald's Co. (NYSE:MCD - Free Report) by 73.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,151 shares of the fast-food giant's stock after selling 43,759 shares during the period. Bard Financial Services Inc.'s holdings in McDonald's were worth $4,918,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Hantz Financial Services Inc. acquired a new stake in shares of McDonald's in the second quarter worth $6,612,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in McDonald's by 58.9% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 138,102 shares of the fast-food giant's stock valued at $35,194,000 after acquiring an additional 51,210 shares in the last quarter. Brevan Howard Capital Management LP increased its holdings in shares of McDonald's by 411.4% in the 4th quarter. Brevan Howard Capital Management LP now owns 7,497 shares of the fast-food giant's stock valued at $2,223,000 after purchasing an additional 6,031 shares during the period. BNP Paribas purchased a new stake in shares of McDonald's in the first quarter worth approximately $7,898,000. Finally, First Long Island Investors LLC grew its position in McDonald's by 16.6% during the first quarter. First Long Island Investors LLC now owns 54,021 shares of the fast-food giant's stock valued at $15,231,000 after purchasing an additional 7,707 shares in the last quarter. 70.29% of the stock is owned by hedge funds and other institutional investors.

McDonald's Price Performance

Shares of MCD traded up $0.31 on Friday, reaching $303.76. 2,432,634 shares of the stock traded hands, compared to its average volume of 3,415,004. The stock's 50-day moving average price is $286.67 and its 200-day moving average price is $271.81. The firm has a market cap of $218.91 billion, a price-to-earnings ratio of 25.79, a P/E/G ratio of 3.99 and a beta of 0.73. McDonald's Co. has a 12 month low of $243.53 and a 12 month high of $306.96.

McDonald's (NYSE:MCD - Get Free Report) last announced its quarterly earnings results on Monday, July 29th. The fast-food giant reported $2.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.07 by ($0.10). The business had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $6.62 billion. McDonald's had a net margin of 32.25% and a negative return on equity of 178.68%. The company's quarterly revenue was down .1% compared to the same quarter last year. During the same period last year, the firm earned $3.17 EPS. As a group, equities research analysts forecast that McDonald's Co. will post 11.69 earnings per share for the current fiscal year.

McDonald's Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders 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 2.33%. This is an increase from McDonald's's previous quarterly dividend of $1.67. The ex-dividend date is Monday, December 2nd. McDonald's's payout ratio is presently 60.10%.

Insider Activity

In related news, CEO Christopher J. Kempczinski sold 11,727 shares of the firm's stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $300.03, for a total transaction of $3,518,451.81. Following the completion of the transaction, the chief executive officer now owns 49,885 shares in the company, valued at $14,966,996.55. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Joseph M. Erlinger sold 1,098 shares of the firm's stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $288.70, for a total transaction of $316,992.60. Following the completion of the sale, the insider now owns 12,583 shares of the company's stock, valued at approximately $3,632,712.10. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Christopher J. Kempczinski sold 11,727 shares of the business's stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $300.03, for a total value of $3,518,451.81. Following the completion of the transaction, the chief executive officer now directly owns 49,885 shares in the company, valued at $14,966,996.55. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 31,751 shares of company stock worth $9,493,973. Company insiders own 0.23% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. KeyCorp decreased their target price on shares of McDonald's from $310.00 to $305.00 and set an "overweight" rating for the company in a research note on Tuesday, July 30th. Guggenheim lifted their price objective on McDonald's from $280.00 to $290.00 and gave the company a "buy" rating in a research report on Friday, August 2nd. The Goldman Sachs Group upped their target price on McDonald's from $284.00 to $325.00 and gave the stock a "neutral" rating in a research report on Tuesday, September 24th. Morgan Stanley lowered their price target on McDonald's from $312.00 to $300.00 and set an "overweight" rating for the company in a research note on Thursday, July 11th. Finally, Jefferies Financial Group lifted their target price on shares of McDonald's from $310.00 to $330.00 and gave the company a "buy" rating in a research note on Monday, September 9th. Eleven research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $309.15.

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.