Simplicity Wealth LLC Cuts Position in McDonald’s Co. (NYSE:MCD)

Simplicity Wealth LLC lowered its holdings in McDonald’s Co. (NYSE:MCD) by 2.1% in the 2nd quarter, Holdings Channel.com reports. The fund owned 26,564 shares of the fast-food giant’s stock after selling 570 shares during the quarter. Simplicity Wealth LLC’s holdings in McDonald’s were worth $6,770,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Dixon Mitchell Investment Counsel Inc. purchased a new stake in shares of McDonald’s in the first quarter worth about $28,000. Signature Resources Capital Management LLC acquired a new stake in McDonald’s in the fourth quarter valued at approximately $31,000. Clear Investment Research LLC acquired a new stake in McDonald’s in the fourth quarter valued at approximately $38,000. Atlantic Edge Private Wealth Management LLC purchased a new stake in shares of McDonald’s during the fourth quarter valued at approximately $39,000. Finally, Keener Financial Planning LLC acquired a new position in shares of McDonald’s during the fourth quarter worth $39,000. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Wall Street Analysts Forecast Growth

MCD has been the topic of several analyst reports. Jefferies Financial Group dropped their price target on shares of McDonald’s from $320.00 to $310.00 and set a “buy” rating on the stock in a research note on Monday, July 29th. TD Cowen cut McDonald’s from a “buy” rating to a “hold” rating and cut their price target for the stock from $285.00 to $280.00 in a research note on Wednesday, July 31st. JPMorgan Chase & Co. reduced their price target on McDonald’s from $290.00 to $270.00 and set an “overweight” rating for the company in a report on Tuesday, July 30th. Evercore ISI dropped their price objective on McDonald’s from $330.00 to $300.00 and set an “outperform” rating on the stock in a report on Tuesday, July 16th. Finally, KeyCorp reduced their target price 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 equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $303.00.

McDonald’s Stock Performance

Shares of MCD traded up $1.82 during mid-day trading on Thursday, reaching $271.19. 3,227,037 shares of the company’s stock traded hands, compared to its average volume of 3,602,553. McDonald’s Co. has a 12 month low of $243.53 and a 12 month high of $302.39. The stock has a market capitalization of $195.44 billion, a P/E ratio of 23.16, a price-to-earnings-growth ratio of 3.58 and a beta of 0.71. The business’s 50-day moving average price is $256.85 and its 200-day moving average price is $272.23.

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 178.92%. The business had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.62 billion. During the same period in the previous year, the firm earned $3.17 EPS. The firm’s revenue was down .1% on a year-over-year basis. Equities research analysts anticipate that McDonald’s Co. will post 11.71 EPS for the current year.

McDonald’s Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be given a $1.67 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $6.68 dividend on an annualized basis and a yield of 2.46%. McDonald’s’s dividend payout ratio is presently 56.71%.

Insider Buying and Selling at McDonald’s

In other McDonald’s news, EVP Jonathan Banner sold 800 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $275.02, for a total value of $220,016.00. Following the completion of the sale, the executive vice president now directly owns 19 shares in the company, valued at $5,225.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Jonathan Banner sold 800 shares of McDonald’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $275.02, for a total transaction of $220,016.00. Following the transaction, the executive vice president now directly owns 19 shares of the company’s stock, valued at $5,225.38. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Marion K. Gross sold 1,498 shares of the company’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $248.26, for a total transaction of $371,893.48. Following the completion of the sale, the executive vice president now directly owns 1,560 shares of the company’s stock, valued at $387,285.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,594 shares of company stock valued at $1,454,507. Company insiders own 0.23% of the company’s stock.

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.