Lorne Steinberg Wealth Management Inc. Sells 192 Shares of McDonald’s Co. (NYSE:MCD)

Lorne Steinberg Wealth Management Inc. cut its position in shares of McDonald’s Co. (NYSE:MCD) by 15.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,088 shares of the fast-food giant’s stock after selling 192 shares during the quarter. Lorne Steinberg Wealth Management Inc.’s holdings in McDonald’s were worth $277,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of MCD. Dixon Mitchell Investment Counsel Inc. bought a new position in shares of McDonald’s during the first quarter worth about $28,000. Signature Resources Capital Management LLC bought a new position in McDonald’s in the fourth quarter valued at approximately $31,000. Clear Investment Research LLC bought a new position in McDonald’s in the fourth quarter valued at approximately $38,000. Atlantic Edge Private Wealth Management LLC bought a new position in McDonald’s in the fourth quarter valued at approximately $39,000. Finally, Accent Capital Management LLC bought a new position in McDonald’s in the fourth quarter valued at approximately $44,000. 70.29% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Joseph M. Erlinger sold 1,099 shares of McDonald’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $265.13, for a total value of $291,377.87. Following the transaction, the insider now owns 15,878 shares in the company, valued at approximately $4,209,734.14. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other McDonald’s news, insider Joseph M. Erlinger sold 1,098 shares of the company’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 transaction, the insider now owns 14,780 shares of the company’s stock, valued at approximately $3,842,800. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Joseph M. Erlinger sold 1,099 shares of the company’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $265.13, for a total value of $291,377.87. Following the completion of the transaction, the insider now directly owns 15,878 shares of the company’s stock, valued at approximately $4,209,734.14. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,794 shares of company stock worth $1,234,491. Insiders own 0.23% of the company’s stock.

McDonald’s Trading Up 1.3 %

NYSE MCD traded up $3.62 during midday trading on Friday, hitting $278.49. The company had a trading volume of 3,200,367 shares, compared to its average volume of 3,568,595. The company has a market capitalization of $200.70 billion, a PE ratio of 23.62, a P/E/G ratio of 3.58 and a beta of 0.71. The firm has a 50-day moving average price of $258.26 and a 200-day moving average price of $271.29. McDonald’s Co. has a twelve month low of $243.53 and a twelve month high of $302.39.

McDonald’s (NYSE:MCD) last issued its quarterly earnings results on Monday, July 29th. The fast-food giant reported $2.97 earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $6.62 billion. During the same quarter in the previous year, the business posted $3.17 EPS. The company’s revenue for the quarter was down .1% on a year-over-year basis. On average, equities analysts anticipate that McDonald’s Co. will post 11.71 EPS for the current year.

McDonald’s Announces Dividend

The firm 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 $1.67 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $6.68 annualized dividend and a dividend yield of 2.40%. McDonald’s’s payout ratio is 56.71%.

Analyst Ratings Changes

MCD has been the subject of a number of analyst reports. Barclays decreased their price target on McDonald’s from $320.00 to $300.00 and set an “overweight” rating for the company in a research note on Tuesday, July 30th. Morgan Stanley decreased their price target on McDonald’s from $312.00 to $300.00 and set an “overweight” rating for the company in a research note on Thursday, July 11th. Loop Capital decreased their price target on McDonald’s from $357.00 to $342.00 and set a “buy” rating for the company in a research note on Tuesday, July 30th. BMO Capital Markets cut their price objective on McDonald’s from $330.00 to $315.00 and set an “outperform” rating for the company in a research report on Tuesday, July 30th. Finally, TD Cowen cut McDonald’s from a “buy” rating to a “hold” rating and cut their price objective for the company from $285.00 to $280.00 in a research report on Wednesday, July 31st. Eleven analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $303.00.

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.