McDonald’s Co. (NYSE:MCD) Shares Sold by Beverly Hills Private Wealth LLC

Beverly Hills Private Wealth LLC cut its stake in shares of McDonald’s Co. (NYSE:MCD) by 4.3% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 11,444 shares of the fast-food giant’s stock after selling 510 shares during the quarter. Beverly Hills Private Wealth LLC’s holdings in McDonald’s were worth $2,916,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Dixon Mitchell Investment Counsel Inc. acquired a new position in shares of McDonald’s during the 1st quarter worth $28,000. Clear Investment Research LLC acquired a new position in shares of McDonald’s during the 4th quarter worth $38,000. Atlantic Edge Private Wealth Management LLC acquired a new position in shares of McDonald’s during the 4th quarter worth $39,000. Kings Path Partners LLC acquired a new position in shares of McDonald’s during the 2nd quarter worth $38,000. Finally, Accent Capital Management LLC acquired a new position in shares of McDonald’s during the 4th quarter worth $44,000. 70.29% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at McDonald’s

In other McDonald’s news, insider Joseph M. Erlinger sold 1,098 shares of the 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 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Marion K. Gross sold 1,498 shares of the firm’s stock in a transaction that occurred on 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 owns 1,560 shares of the company’s stock, valued at $387,285.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Joseph M. Erlinger sold 1,098 shares of the firm’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 transaction of $285,480.00. Following the sale, the insider now directly owns 14,780 shares of the company’s stock, valued at approximately $3,842,800. The disclosure for this sale can be found here. Insiders sold 6,291 shares of company stock valued at $1,689,073 over the last 90 days. 0.23% of the stock is owned by corporate insiders.

McDonald’s Price Performance

Shares of MCD stock opened at $290.14 on Thursday. The firm has a market cap of $209.10 billion, a P/E ratio of 24.63, a PEG ratio of 3.87 and a beta of 0.72. McDonald’s Co. has a 1-year low of $243.53 and a 1-year high of $302.39. The firm’s 50-day simple moving average is $271.14 and its 200-day simple moving average is $270.66.

McDonald’s (NYSE:MCD) last posted its 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). The business had revenue of $6.49 billion for the quarter, compared to analyst estimates of $6.62 billion. McDonald’s had a negative return on equity of 178.68% and a net margin of 32.25%. The firm’s revenue for the quarter was down .1% compared to the same quarter last year. During the same period last year, the company posted $3.17 EPS. Analysts expect that McDonald’s Co. will post 11.67 earnings per share for the current fiscal year.

McDonald’s Dividend Announcement

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 $1.67 dividend. This represents a $6.68 annualized dividend and a yield of 2.30%. The ex-dividend date is Tuesday, September 3rd. McDonald’s’s dividend payout ratio (DPR) is 56.71%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on MCD. Morgan Stanley lowered their price target on shares of McDonald’s from $312.00 to $300.00 and set an “overweight” rating on the stock in a research note on Thursday, July 11th. KeyCorp lowered their price objective on shares of McDonald’s from $310.00 to $305.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 30th. Guggenheim increased their price objective on shares of McDonald’s from $280.00 to $290.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Loop Capital reissued a “buy” rating and issued a $342.00 price objective on shares of McDonald’s in a research note on Tuesday. Finally, Wedbush reissued an “outperform” rating and issued a $295.00 price objective on shares of McDonald’s in a research note on Monday, July 29th. Eleven research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $304.41.

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.