McDonald’s Co. (NYSE:MCD) Holdings Lowered by D.B. Root & Company LLC

D.B. Root & Company LLC cut its stake in McDonald’s Co. (NYSE:MCD) by 30.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,171 shares of the fast-food giant’s stock after selling 1,843 shares during the period. D.B. Root & Company LLC’s holdings in McDonald’s were worth $1,063,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its stake in McDonald’s by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 69,049,310 shares of the fast-food giant’s stock valued at $20,473,811,000 after purchasing an additional 599,745 shares in the last quarter. Norges Bank bought a new position in McDonald’s during the fourth quarter valued at about $2,684,899,000. Price T Rowe Associates Inc. MD raised its position in 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 worth $2,178,474,000 after acquiring an additional 987,099 shares in the last quarter. Gallagher Fiduciary Advisors LLC raised its position in 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 worth $1,664,521,000 after acquiring an additional 5,609,736 shares in the last quarter. Finally, Capital Research Global Investors lifted its holdings in McDonald’s by 66.9% in the 1st quarter. Capital Research Global Investors now owns 5,471,007 shares of the fast-food giant’s stock valued at $1,542,550,000 after acquiring an additional 2,193,769 shares during the last quarter. Institutional investors and hedge funds own 70.29% of the company’s stock.

Wall Street Analysts Forecast Growth

MCD has been the topic of a number of research reports. Wedbush reiterated an “outperform” rating and issued a $295.00 target price on shares of McDonald’s in a report on Monday, July 29th. Robert W. Baird cut their price objective on McDonald’s from $305.00 to $300.00 and set an “outperform” rating for the company in a research report on Wednesday, May 1st. Citigroup cut their target price on McDonald’s from $280.00 to $275.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 30th. Bank of America reduced their target price on McDonald’s from $288.00 to $278.00 and set a “neutral” rating for the company in a report on Tuesday, July 30th. Finally, KeyCorp dropped their price target on McDonald’s from $310.00 to $305.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 30th. Eleven investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $303.00.

Insider Buying and Selling

In other McDonald’s news, insider Joseph M. Erlinger sold 1,098 shares of the business’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $260.00, for a total value of $285,480.00. Following the completion of the sale, the insider now owns 14,780 shares of the company’s stock, valued at $3,842,800. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other McDonald’s news, insider Joseph M. Erlinger sold 1,099 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $260.00, for a total transaction of $285,740.00. Following the completion of the sale, the insider now owns 13,681 shares of the company’s stock, valued at $3,557,060. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Joseph M. Erlinger sold 1,098 shares of McDonald’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $260.00, for a total transaction of $285,480.00. Following the completion of the transaction, the insider now directly owns 14,780 shares in the company, valued at approximately $3,842,800. The disclosure for this sale can be found here. Over the last three months, insiders sold 4,794 shares of company stock worth $1,234,491. Corporate insiders own 0.23% of the company’s stock.

McDonald’s Stock Up 0.6 %

Shares of MCD traded up $1.55 during midday trading on Monday, reaching $269.46. 2,918,890 shares of the stock were exchanged, compared to its average volume of 3,592,597. The company has a market cap of $194.19 billion, a price-to-earnings ratio of 22.87, a P/E/G ratio of 3.58 and a beta of 0.71. The firm has a 50 day simple moving average of $257.60 and a 200-day simple moving average of $271.42. McDonald’s Co. has a 12-month low of $243.53 and a 12-month high of $302.39.

McDonald’s (NYSE:MCD) last issued its quarterly earnings data 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). 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 178.92%. McDonald’s’s revenue was down .1% compared to the same quarter last year. During the same period in the previous year, the business posted $3.17 EPS. Research analysts expect that McDonald’s Co. will post 11.71 earnings per share for the current fiscal year.

McDonald’s Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be paid a $1.67 dividend. This represents a $6.68 annualized dividend and a dividend yield of 2.48%. The ex-dividend date is Tuesday, September 3rd. McDonald’s’s payout ratio is presently 56.71%.

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.