Massachusetts Financial Services Co. MA Has $27.44 Million Stake in McDonald’s Co. (NYSE:MCD)

Massachusetts Financial Services Co. MA trimmed its position in shares of McDonald’s Co. (NYSE:MCD) by 0.9% during the third quarter, Holdings Channel.com reports. The firm owned 90,105 shares of the fast-food giant’s stock after selling 802 shares during the period. Massachusetts Financial Services Co. MA’s holdings in McDonald’s were worth $27,438,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of MCD. Quent Capital LLC raised its position in shares of McDonald’s by 10.4% during the first quarter. Quent Capital LLC now owns 3,006 shares of the fast-food giant’s stock worth $848,000 after purchasing an additional 282 shares during the period. Gabelli Funds LLC raised its position in McDonald’s by 40.0% in the 1st quarter. Gabelli Funds LLC now owns 1,050 shares of the fast-food giant’s stock valued at $296,000 after buying an additional 300 shares during the last quarter. Bayesian Capital Management LP raised its position in McDonald’s by 109.0% in the 1st quarter. Bayesian Capital Management LP now owns 1,549 shares of the fast-food giant’s stock valued at $437,000 after buying an additional 808 shares during the last quarter. Dynasty Wealth Management LLC purchased a new stake in McDonald’s in the 1st quarter valued at $473,000. Finally, Creekmur Asset Management LLC raised its position in McDonald’s by 3.8% in the 1st quarter. Creekmur Asset Management LLC now owns 1,354 shares of the fast-food giant’s stock valued at $382,000 after buying an additional 50 shares during the last quarter. 70.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. KeyCorp increased their price target on McDonald’s from $305.00 to $330.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. BMO Capital Markets increased their price target on McDonald’s from $315.00 to $335.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. raised their target price on McDonald’s from $270.00 to $290.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. The Goldman Sachs Group raised their target price on McDonald’s from $284.00 to $325.00 and gave the company a “neutral” rating in a research report on Tuesday, September 24th. Finally, Baird R W lowered McDonald’s from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. Thirteen investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $319.46.

Insider Activity at McDonald’s

In other McDonald’s news, CEO Christopher J. Kempczinski sold 11,727 shares of McDonald’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 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Ian Frederick Borden sold 5,939 shares of McDonald’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $300.04, for a total value of $1,781,937.56. Following the completion of the transaction, the chief financial officer now directly owns 20,403 shares in the company, valued at $6,121,716.12. This trade represents a 22.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,498 shares of company stock valued at $10,381,296. Corporate insiders own 0.23% of the company’s stock.

McDonald’s Stock Up 2.0 %

NYSE:MCD opened at $296.15 on Tuesday. The business’s 50-day moving average price is $299.84 and its two-hundred day moving average price is $278.40. McDonald’s Co. has a twelve month low of $243.53 and a twelve month high of $317.90. The stock has a market cap of $212.23 billion, a P/E ratio of 26.00, a PEG ratio of 3.86 and a beta of 0.74.

McDonald’s (NYSE:MCD) last released its quarterly earnings results on Tuesday, October 29th. The fast-food giant reported $3.23 earnings per share for the quarter, beating the consensus estimate 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 company’s revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the firm posted $3.19 EPS. On average, equities research analysts expect that McDonald’s Co. will post 11.77 EPS 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. 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 dividend 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 currently 58.65%.

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.