Norden Group LLC Sells 1,204 Shares of McDonald’s Co. (NYSE:MCD)

Norden Group LLC lowered its stake in McDonald’s Co. (NYSE:MCD) by 23.8% during the second quarter, Holdings Channel reports. The firm owned 3,860 shares of the fast-food giant’s stock after selling 1,204 shares during the period. Norden Group LLC’s holdings in McDonald’s were worth $984,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of MCD. Dixon Mitchell Investment Counsel Inc. bought a new position in McDonald’s in the 1st quarter valued at about $28,000. Clear Investment Research LLC bought a new position in McDonald’s in the fourth quarter valued at approximately $38,000. Kings Path Partners LLC acquired a new position in McDonald’s during the second quarter valued at approximately $38,000. Atlantic Edge Private Wealth Management LLC bought a new stake in McDonald’s during the fourth quarter worth $39,000. Finally, Accent Capital Management LLC acquired a new stake in shares of McDonald’s in the 4th quarter valued at $44,000. Institutional investors and hedge funds own 70.29% of the company’s stock.

Insider Buying and Selling at McDonald’s

In other news, insider Joseph M. Erlinger sold 1,098 shares of the stock in a transaction 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 completion of the transaction, the insider now owns 14,780 shares in the company, valued at approximately $3,842,800. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other McDonald’s news, insider Joseph M. Erlinger sold 1,099 shares of the business’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 sale, the insider now owns 13,681 shares of the company’s stock, valued at approximately $3,557,060. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Joseph M. Erlinger sold 1,098 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider now directly owns 14,780 shares of the company’s stock, valued at $3,842,800. The disclosure for this sale can be found here. Insiders have sold a total of 6,291 shares of company stock worth $1,689,073 over the last ninety days. 0.23% of the stock is currently owned by company insiders.

McDonald’s Price Performance

NYSE MCD opened at $289.51 on Friday. The business’s fifty day moving average is $268.64 and its 200-day moving average is $270.76. The stock has a market capitalization of $208.64 billion, a price-to-earnings ratio of 24.58, a PEG ratio of 3.86 and a beta of 0.72. McDonald’s Co. has a one year low of $243.53 and a one year high of $302.39.

McDonald’s (NYSE:MCD) last released its earnings results on Monday, July 29th. The fast-food giant reported $2.97 earnings per share 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 analysts’ expectations of $6.62 billion. During the same quarter in the previous year, the firm earned $3.17 earnings per share. The firm’s revenue was down .1% compared to the same quarter last year. Research analysts expect that McDonald’s Co. will post 11.67 EPS for the current fiscal year.

McDonald’s Announces Dividend

The company also recently announced 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 is currently 56.71%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on MCD shares. The Goldman Sachs Group began coverage on McDonald’s in a research report on Thursday, June 13th. They set a “neutral” rating and a $288.00 price objective for the company. Barclays reduced their price target on shares of McDonald’s from $320.00 to $300.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 30th. BMO Capital Markets dropped their price objective on shares of McDonald’s from $330.00 to $315.00 and set an “outperform” rating for the company in a research note on Tuesday, July 30th. Jefferies Financial Group decreased their target price on shares of McDonald’s from $320.00 to $310.00 and set a “buy” rating on the stock in a research note on Monday, July 29th. Finally, Evercore ISI increased their price target on McDonald’s from $300.00 to $320.00 and gave the company an “outperform” rating in a research note on Monday, August 19th. Eleven equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. According to MarketBeat, McDonald’s has a consensus rating of “Moderate Buy” and a consensus price target of $303.67.

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.