McDonald’s Co. (NYSE:MCD) Stake Lowered by Wellington Shields Capital Management LLC

Wellington Shields Capital Management LLC trimmed its position in shares of McDonald’s Co. (NYSE:MCD) by 8.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,592 shares of the fast-food giant’s stock after selling 311 shares during the period. Wellington Shields Capital Management LLC’s holdings in McDonald’s were worth $915,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of MCD. Dixon Mitchell Investment Counsel Inc. acquired a new stake in shares of McDonald’s during the 1st quarter valued at about $28,000. Clear Investment Research LLC bought a new position in McDonald’s during the fourth quarter valued at approximately $38,000. Atlantic Edge Private Wealth Management LLC bought a new position in McDonald’s during the fourth quarter valued at approximately $39,000. Kings Path Partners LLC acquired a new stake in McDonald’s in the second quarter valued at approximately $38,000. Finally, Accent Capital Management LLC bought a new stake in McDonald’s in the fourth quarter worth approximately $44,000. Institutional investors and hedge funds own 70.29% of the company’s stock.

Insiders Place Their Bets

In other news, insider Joseph M. Erlinger sold 1,098 shares of the business’s stock in a transaction 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 sale, the insider now owns 14,780 shares in the company, valued at approximately $3,842,800. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Joseph M. Erlinger sold 1,098 shares of the business’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $260.00, for a total value of $285,480.00. Following the transaction, the insider now directly owns 14,780 shares of the company’s stock, valued at approximately $3,842,800. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Marion K. Gross sold 1,498 shares of the firm’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 disclosure for this sale can be found here. Insiders sold 6,291 shares of company stock worth $1,689,073 over the last three months. 0.23% of the stock is currently owned by corporate insiders.

McDonald’s Stock Performance

Shares of NYSE:MCD traded up $1.41 during midday trading on Friday, reaching $289.38. 270,299 shares of the company’s stock were exchanged, compared to its average volume of 3,483,699. The firm has a market capitalization of $208.55 billion, a PE ratio of 24.44, a price-to-earnings-growth ratio of 3.86 and a beta of 0.72. The company’s 50 day simple moving average is $267.95 and its two-hundred day simple moving average is $270.93. McDonald’s Co. has a 12 month low of $243.53 and a 12 month high of $302.39.

McDonald’s (NYSE:MCD) last announced its quarterly earnings results on Monday, July 29th. The fast-food giant reported $2.97 EPS for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.10). McDonald’s had a negative return on equity of 178.68% and a net margin of 32.25%. The business had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.62 billion. During the same quarter in the prior year, the business earned $3.17 EPS. The firm’s revenue for the quarter was down .1% on a year-over-year basis. On average, research analysts anticipate that McDonald’s Co. will post 11.67 earnings per share for the current year.

McDonald’s Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be given a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date of this dividend is Tuesday, September 3rd. McDonald’s’s dividend payout ratio (DPR) is 56.71%.

Analysts Set New Price Targets

Several research firms recently issued reports on MCD. The Goldman Sachs Group began 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. 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. Truist Financial cut their price objective on McDonald’s from $300.00 to $295.00 and set a “buy” rating on the stock in a research note on Tuesday, July 30th. Bank of America decreased their target price on McDonald’s from $288.00 to $278.00 and set a “neutral” rating for the company in a research report on Tuesday, July 30th. Finally, Tigress Financial increased their price target on McDonald’s from $355.00 to $360.00 and gave the company a “buy” rating in a report on Tuesday. Eleven research 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.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $303.89.

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.