Capital Wealth Planning LLC Lowers Stock Position in McDonald’s Co. (NYSE:MCD)

Capital Wealth Planning LLC cut its holdings in shares of McDonald’s Co. (NYSE:MCD) by 26.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,136,344 shares of the fast-food giant’s stock after selling 401,699 shares during the period. McDonald’s accounts for about 3.1% of Capital Wealth Planning LLC’s holdings, making the stock its 16th biggest position. Capital Wealth Planning LLC owned approximately 0.16% of McDonald’s worth $289,586,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Dixon Mitchell Investment Counsel Inc. purchased a new position in shares of McDonald’s during the first quarter worth approximately $28,000. Clear Investment Research LLC purchased a new position in McDonald’s in the 4th quarter valued at $38,000. Kings Path Partners LLC purchased a new position in McDonald’s in the 2nd quarter valued at $38,000. Accent Capital Management LLC purchased a new position in McDonald’s in the 4th quarter valued at $44,000. Finally, Transcendent Capital Group LLC purchased a new position in McDonald’s in the 4th quarter valued at $45,000. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

McDonald’s Trading Up 1.4 %

Shares of MCD stock opened at $296.53 on Monday. The firm has a 50-day moving average price of $272.89 and a 200 day moving average price of $270.47. McDonald’s Co. has a twelve month low of $243.53 and a twelve month high of $302.39. The company has a market capitalization of $213.70 billion, a price-to-earnings ratio of 25.17, a PEG ratio of 3.88 and a beta of 0.72.

McDonald’s (NYSE:MCD) last announced its earnings results on Monday, July 29th. The fast-food giant reported $2.97 earnings per share for the quarter, missing the consensus estimate of $3.07 by ($0.10). McDonald’s had a net margin of 32.25% and a negative return on equity of 178.68%. The firm had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.62 billion. During the same period in the previous year, the firm posted $3.17 EPS. The company’s revenue for the quarter was down .1% compared to the same quarter last year. As a group, research analysts predict that McDonald’s Co. will post 11.67 earnings per share for the current year.

McDonald’s Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be issued a $1.67 dividend. This represents a $6.68 annualized dividend and a yield of 2.25%. The ex-dividend date is Tuesday, September 3rd. McDonald’s’s dividend payout ratio (DPR) is 56.71%.

Insider Buying and Selling at McDonald’s

In other McDonald’s news, EVP Marion K. Gross sold 1,498 shares of McDonald’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $248.26, for a total value of $371,893.48. Following the completion of the sale, the executive vice president now owns 1,560 shares in the company, valued at approximately $387,285.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other McDonald’s news, EVP Marion K. Gross sold 1,498 shares of McDonald’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $248.26, for a total value of $371,893.48. Following the completion of the sale, the executive vice president now owns 1,560 shares in the company, valued at approximately $387,285.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Joseph M. Erlinger sold 1,099 shares of McDonald’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $260.00, for a total value of $285,740.00. Following the completion of the sale, the insider now owns 13,681 shares of the company’s stock, valued at approximately $3,557,060. The disclosure for this sale can be found here. Insiders sold 6,291 shares of company stock worth $1,689,073 in the last 90 days. 0.23% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. KeyCorp lowered their price objective on shares of McDonald’s from $310.00 to $305.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 30th. Loop Capital reiterated a “buy” rating and issued a $342.00 price objective on shares of McDonald’s in a research report on Tuesday, September 10th. BMO Capital Markets reduced their target price on McDonald’s from $330.00 to $315.00 and set an “outperform” rating for the company in a report on Tuesday, July 30th. Stifel Nicolaus reduced their target price on McDonald’s from $285.00 to $265.00 and set a “hold” rating for the company in a report on Monday, July 22nd. Finally, The Goldman Sachs Group began coverage on McDonald’s in a report on Thursday, June 13th. They issued a “neutral” rating and a $288.00 target price for the company. Eleven investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $305.37.

McDonald’s Company 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.