Cranbrook Wealth Management LLC Has $371,000 Position in McDonald’s Co. (NYSE:MCD)

Cranbrook Wealth Management LLC cut its holdings in McDonald’s Co. (NYSE:MCD) by 18.2% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,454 shares of the fast-food giant’s stock after selling 323 shares during the quarter. Cranbrook Wealth Management LLC’s holdings in McDonald’s were worth $371,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Dixon Mitchell Investment Counsel Inc. bought a new position in shares of McDonald’s in the first quarter worth about $28,000. Clear Investment Research LLC bought a new position in McDonald’s in the 4th quarter worth approximately $38,000. Kings Path Partners LLC acquired a new position in McDonald’s during the 2nd quarter worth $38,000. Accent Capital Management LLC bought a new position in McDonald’s in the 4th quarter valued at $44,000. Finally, Transcendent Capital Group LLC acquired a new stake in shares of McDonald’s in the 4th quarter valued at $45,000. 70.29% of the stock is owned by institutional investors.

McDonald’s Trading Up 0.0 %

McDonald’s stock opened at $296.66 on Tuesday. The company has a fifty day simple moving average of $273.87 and a 200 day simple moving average of $270.50. McDonald’s Co. has a 1-year low of $243.53 and a 1-year high of $302.39. The company has a market cap of $213.80 billion, a P/E ratio of 25.18, a price-to-earnings-growth ratio of 3.88 and a beta of 0.72.

McDonald’s (NYSE:MCD) last released 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). McDonald’s had a net margin of 32.25% and a negative return on equity of 178.68%. The company had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.62 billion. During the same period in the prior year, the firm posted $3.17 EPS. McDonald’s’s revenue was down .1% compared to the same quarter last year. On average, equities research analysts forecast that McDonald’s Co. will post 11.67 EPS for the current year.

McDonald’s Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be issued a $1.67 dividend. This represents a $6.68 annualized dividend and a dividend yield of 2.25%. The ex-dividend date of this dividend is Tuesday, September 3rd. McDonald’s’s payout ratio is presently 56.71%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on MCD. Citigroup upped their price target on McDonald’s from $275.00 to $301.00 and gave the company a “neutral” rating in a research note on Friday. Truist Financial reduced their target price on shares of McDonald’s from $300.00 to $295.00 and set a “buy” rating on the stock in a research note on Tuesday, July 30th. The Goldman Sachs Group initiated coverage on shares of McDonald’s in a research note on Thursday, June 13th. They set a “neutral” rating and a $288.00 price target for the company. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of McDonald’s from $295.00 to $290.00 and set a “buy” rating on the stock in a research note on Tuesday, July 30th. Finally, Guggenheim increased their price target on McDonald’s from $280.00 to $290.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Eleven equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $306.11.

Insider Activity at McDonald’s

In other news, insider Joseph M. Erlinger sold 1,098 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $288.70, for a total value of $316,992.60. Following the sale, the insider now directly owns 12,583 shares of the company’s stock, valued at approximately $3,632,712.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, insider Joseph M. Erlinger sold 1,098 shares of McDonald’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $288.70, for a total transaction of $316,992.60. Following the completion of the transaction, the insider now directly owns 12,583 shares in the company, valued at approximately $3,632,712.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Joseph M. Erlinger sold 1,099 shares of the company’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $260.00, for a total transaction of $285,740.00. Following the completion of the transaction, the insider now owns 13,681 shares in the company, valued at $3,557,060. The disclosure for this sale can be found here. Over the last three months, insiders sold 6,291 shares of company stock valued at $1,689,073. 0.23% of the stock is owned by corporate insiders.

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.