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

Massachusetts Financial Services Co. MA cut its stake in McDonald’s Co. (NYSE:MCD) by 0.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor 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 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Hara Capital LLC acquired a new position in shares of McDonald’s in the 3rd quarter worth approximately $44,000. Kings Path Partners LLC acquired a new position in shares of McDonald’s in the 2nd quarter worth approximately $38,000. Peterson Financial Group Inc. acquired a new stake in McDonald’s during the 3rd quarter valued at $58,000. Opal Wealth Advisors LLC acquired a new stake in McDonald’s during the 2nd quarter valued at $59,000. Finally, Bbjs Financial Advisors LLC acquired a new stake in McDonald’s during the 2nd quarter valued at $65,000. 70.29% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on MCD shares. Loop Capital reaffirmed a “buy” rating on shares of McDonald’s in a report on Friday, October 18th. Tigress Financial raised their price target on McDonald’s from $355.00 to $360.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. The Goldman Sachs Group raised their price target on McDonald’s from $284.00 to $325.00 and gave the company a “neutral” rating in a report on Tuesday, September 24th. Argus raised McDonald’s from a “hold” rating to a “buy” rating in a report on Tuesday, October 8th. Finally, TD Cowen reissued a “hold” rating and issued a $300.00 target price on shares of McDonald’s in a research note on Tuesday, October 29th. Thirteen investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $319.46.

Insiders Place Their Bets

In other McDonald’s news, EVP Marion K. Gross sold 1,499 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $294.51, for a total transaction of $441,470.49. Following the transaction, the executive vice president now directly owns 1,560 shares in the company, valued at approximately $459,435.60. This represents a 49.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Joseph M. Erlinger sold 1,099 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $298.57, for a total value of $328,128.43. Following the transaction, the insider now owns 11,484 shares in the company, valued at $3,428,777.88. The trade was a 8.73 % 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 worth $10,381,296. Corporate insiders own 0.23% of the company’s stock.

McDonald’s Price Performance

Shares of MCD stock opened at $296.15 on Tuesday. The business’s 50 day simple moving average is $299.84 and its 200 day simple moving average is $278.40. McDonald’s Co. has a one year low of $243.53 and a one year high of $317.90. The stock has a market capitalization of $212.23 billion, a PE ratio of 26.00, a PEG ratio of 3.86 and a beta of 0.74.

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

McDonald’s Increases Dividend

The firm also recently declared 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 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 is presently 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.