SPC Financial Inc. Reduces Position in McDonald’s Co. (NYSE:MCD)

SPC Financial Inc. lessened its holdings in shares of McDonald’s Co. (NYSE:MCD) by 2.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,783 shares of the fast-food giant’s stock after selling 113 shares during the period. SPC Financial Inc.’s holdings in McDonald’s were worth $1,067,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Norges Bank purchased a new stake in shares of McDonald’s in the fourth quarter valued at approximately $2,684,899,000. Gallagher Fiduciary Advisors LLC boosted its holdings in shares of McDonald’s by 141,160.9% in the fourth quarter. Gallagher Fiduciary Advisors LLC now owns 5,613,710 shares of the fast-food giant’s stock valued at $1,664,521,000 after purchasing an additional 5,609,736 shares during the period. International Assets Investment Management LLC boosted its holdings in shares of McDonald’s by 10,702.5% in the fourth quarter. International Assets Investment Management LLC now owns 2,174,426 shares of the fast-food giant’s stock valued at $644,739,000 after purchasing an additional 2,154,297 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of McDonald’s by 15.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,347,048 shares of the fast-food giant’s stock valued at $2,178,474,000 after purchasing an additional 987,099 shares during the period. Finally, CIBC Private Wealth Group LLC boosted its holdings in shares of McDonald’s by 552.2% in the fourth quarter. CIBC Private Wealth Group LLC now owns 791,639 shares of the fast-food giant’s stock valued at $234,729,000 after purchasing an additional 670,261 shares during the period. Hedge funds and other institutional investors own 70.29% of the company’s stock.

McDonald’s Stock Performance

Shares of NYSE MCD traded up $4.31 during mid-day trading on Thursday, hitting $254.80. The stock had a trading volume of 5,477,780 shares, compared to its average volume of 3,452,493. The company has a 50 day moving average of $259.19 and a two-hundred day moving average of $276.86. McDonald’s Co. has a twelve month low of $243.53 and a twelve month high of $302.39. The firm has a market cap of $183.63 billion, a PE ratio of 21.66, a PEG ratio of 2.79 and a beta of 0.71.

McDonald’s (NYSE:MCD) last posted its quarterly earnings results on Tuesday, April 30th. The fast-food giant reported $2.70 EPS for the quarter, missing the consensus estimate of $2.71 by ($0.01). McDonald’s had a net margin of 33.36% and a negative return on equity of 180.74%. The business had revenue of $6.17 billion during the quarter, compared to analysts’ expectations of $6.16 billion. During the same period in the previous year, the company posted $2.63 earnings per share. McDonald’s’s revenue for the quarter was up 4.6% compared to the same quarter last year. Equities research analysts predict that McDonald’s Co. will post 12.19 EPS for the current fiscal year.

McDonald’s Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 3rd were issued a $1.67 dividend. This represents a $6.68 annualized dividend and a yield of 2.62%. The ex-dividend date was Monday, June 3rd. McDonald’s’s payout ratio is 56.71%.

Insider Buying and Selling at McDonald’s

In other McDonald’s news, EVP Marion K. Gross sold 1,498 shares of the company’s stock in a transaction 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 sale, the executive vice president now directly owns 1,560 shares of the company’s stock, valued at $387,285.60. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider Joseph M. Erlinger sold 1,098 shares of the stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $260.00, for a total transaction of $285,480.00. Following the sale, the insider now directly owns 14,780 shares of the company’s stock, valued at approximately $3,842,800. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Marion K. Gross sold 1,498 shares of the stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $248.26, for a total transaction of $371,893.48. Following the sale, the executive vice president now directly owns 1,560 shares in the company, valued at $387,285.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,593 shares of company stock valued at $1,472,518. 0.23% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on MCD. TD Cowen reiterated a “buy” rating and issued a $305.00 price target on shares of McDonald’s in a report on Thursday, June 13th. Citigroup reduced their price objective on shares of McDonald’s from $312.00 to $297.00 and set a “neutral” rating for the company in a research note on Tuesday, April 16th. The Goldman Sachs Group assumed coverage on shares of McDonald’s in a research note on Thursday, June 13th. They issued a “neutral” rating and a $288.00 price objective for the company. Bank of America reduced their price objective on shares of McDonald’s from $302.00 to $288.00 and set a “neutral” rating for the company in a research note on Tuesday, May 28th. Finally, Guggenheim reduced their price objective on shares of McDonald’s from $315.00 to $280.00 and set a “buy” rating for the company in a research note on Tuesday, July 2nd. Ten investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $312.11.

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.