McDonald’s Co. (NYSE:MCD) Position Cut by MainStreet Investment Advisors LLC

MainStreet Investment Advisors LLC lowered its holdings in shares of McDonald’s Co. (NYSE:MCD) by 9.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,313 shares of the fast-food giant’s stock after selling 3,776 shares during the period. McDonald’s makes up 1.2% of MainStreet Investment Advisors LLC’s holdings, making the stock its 25th largest position. MainStreet Investment Advisors LLC’s holdings in McDonald’s were worth $9,764,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Dixon Mitchell Investment Counsel Inc. bought a new stake in McDonald’s during the first quarter worth approximately $28,000. Clear Investment Research LLC acquired a new position in shares of McDonald’s during the 4th quarter valued at $38,000. Atlantic Edge Private Wealth Management LLC bought a new stake in shares of McDonald’s in the 4th quarter worth $39,000. Kings Path Partners LLC acquired a new stake in shares of McDonald’s in the second quarter valued at $38,000. Finally, Accent Capital Management LLC bought a new position in McDonald’s during the fourth quarter valued at about $44,000. Institutional investors and hedge funds own 70.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on MCD. Morgan Stanley dropped their price target on shares of McDonald’s from $312.00 to $300.00 and set an “overweight” rating on the stock in a research report on Thursday, July 11th. Stifel Nicolaus dropped their target price on shares of McDonald’s from $285.00 to $265.00 and set a “hold” rating on the stock in a report on Monday, July 22nd. The Goldman Sachs Group initiated coverage on shares of McDonald’s in a report on Thursday, June 13th. They set a “neutral” rating and a $288.00 target price for the company. Tigress Financial upped 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. Finally, KeyCorp reduced their price objective on McDonald’s from $310.00 to $305.00 and set an “overweight” rating for the company in a research note on Tuesday, July 30th. Eleven research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat, McDonald’s currently has an average rating of “Moderate Buy” and a consensus target price of $303.67.

McDonald’s Stock Performance

Shares of MCD opened at $289.51 on Friday. The firm has a market cap of $208.64 billion, a PE ratio of 24.58, a PEG ratio of 3.86 and a beta of 0.72. The firm’s 50 day moving average price is $268.64 and its 200 day moving average price is $270.76. McDonald’s Co. has a twelve month low of $243.53 and a twelve month high of $302.39.

McDonald’s (NYSE:MCD) last released its quarterly earnings results on Monday, July 29th. The fast-food giant reported $2.97 earnings per share for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.10). The business had revenue of $6.49 billion for 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 firm’s revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.17 EPS. On average, sell-side analysts anticipate that McDonald’s Co. will post 11.67 earnings per share for the current fiscal year.

McDonald’s Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be paid a dividend of $1.67 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $6.68 annualized dividend and a dividend yield of 2.31%. McDonald’s’s dividend payout ratio (DPR) is presently 56.71%.

Insider Activity

In other news, EVP Marion K. Gross sold 1,498 shares of McDonald’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $248.26, for a total value of $371,893.48. Following the transaction, the executive vice president now owns 1,560 shares of the company’s stock, valued at $387,285.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, insider Joseph M. Erlinger sold 1,098 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $288.70, for a total transaction of $316,992.60. Following the completion of the transaction, the insider now owns 12,583 shares of the company’s stock, valued at approximately $3,632,712.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Marion K. Gross sold 1,498 shares of the firm’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were 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 directly owns 1,560 shares in the company, valued at approximately $387,285.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 6,291 shares of company stock valued at $1,689,073. 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.