Raymond James Financial Services Advisors Inc. Sells 6,961 Shares of McDonald’s Co. (NYSE:MCD)

Raymond James Financial Services Advisors Inc. lessened its holdings in shares of McDonald’s Co. (NYSE:MCD) by 1.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 476,883 shares of the fast-food giant’s stock after selling 6,961 shares during the period. Raymond James Financial Services Advisors Inc. owned about 0.07% of McDonald’s worth $121,529,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of MCD. Dixon Mitchell Investment Counsel Inc. bought a new stake in shares of McDonald’s during the 1st quarter valued at about $28,000. Signature Resources Capital Management LLC bought a new stake in shares of McDonald’s in the 4th quarter worth about $31,000. Clear Investment Research LLC purchased a new position in McDonald’s during the 4th quarter valued at $38,000. Atlantic Edge Private Wealth Management LLC bought a new position in McDonald’s in the 4th quarter worth about $39,000. Finally, Accent Capital Management LLC purchased a new position in shares of McDonald’s during the fourth quarter valued at $44,000. Institutional investors own 70.29% of the company’s stock.

Insider Buying and Selling

In related news, insider Joseph M. Erlinger sold 1,098 shares of the firm’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 value of $285,480.00. Following the transaction, the insider now owns 14,780 shares of the company’s stock, valued at $3,842,800. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other McDonald’s news, insider Joseph M. Erlinger sold 1,098 shares of the stock in a transaction 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 owns 14,780 shares in the company, valued at $3,842,800. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Marion K. Gross sold 1,498 shares of McDonald’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $248.26, for a total transaction of $371,893.48. Following the transaction, 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. Insiders have sold a total of 4,794 shares of company stock valued at $1,234,491 over the last ninety days. Company insiders own 0.23% of the company’s stock.

McDonald’s Trading Up 3.3 %

Shares of MCD stock traded up $9.06 during trading hours on Monday, hitting $287.55. 5,158,816 shares of the company were exchanged, compared to its average volume of 3,579,280. The firm has a fifty day simple moving average of $259.38 and a 200 day simple moving average of $270.80. McDonald’s Co. has a 52-week low of $243.53 and a 52-week high of $302.39. The stock has a market capitalization of $207.23 billion, a price-to-earnings ratio of 24.41, a P/E/G ratio of 3.58 and a beta of 0.71.

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 analysts’ consensus estimates 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 quarter last year, the business posted $3.17 EPS. The business’s revenue was down .1% compared to the same quarter last year. Sell-side analysts anticipate that McDonald’s Co. will post 11.71 EPS for the current year.

McDonald’s Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be given a dividend of $1.67 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $6.68 annualized dividend and a yield of 2.32%. McDonald’s’s payout ratio is 56.71%.

Wall Street Analyst Weigh In

MCD has been the subject of several recent research reports. Barclays cut their target price on shares of McDonald’s from $320.00 to $300.00 and set an “overweight” rating for the company in a report on Tuesday, July 30th. Stifel Nicolaus decreased their target price on McDonald’s from $285.00 to $265.00 and set a “hold” rating for the company in a research report on Monday, July 22nd. TD Cowen downgraded McDonald’s from a “buy” rating to a “hold” rating and cut their target price for the stock from $285.00 to $280.00 in a research note on Wednesday, July 31st. KeyCorp reduced their target price 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. Finally, Jefferies Financial Group lowered their price target on McDonald’s from $320.00 to $310.00 and set a “buy” rating for the company in a research report on Monday, July 29th. Eleven equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $303.71.

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.