1832 Asset Management L.P. Sells 20,745 Shares of McDonald’s Co. (NYSE:MCD)

1832 Asset Management L.P. lowered its stake in shares of McDonald’s Co. (NYSE:MCD) by 1.3% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 1,624,839 shares of the fast-food giant’s stock after selling 20,745 shares during the quarter. 1832 Asset Management L.P.’s holdings in McDonald’s were worth $414,074,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Dixon Mitchell Investment Counsel Inc. purchased a new position in McDonald’s during the 1st quarter valued at $28,000. Clear Investment Research LLC purchased a new position in McDonald’s during the 4th quarter valued at $38,000. Kings Path Partners LLC purchased a new position in McDonald’s during the 2nd quarter valued at $38,000. Accent Capital Management LLC purchased a new position in McDonald’s during the 4th quarter valued at $44,000. Finally, Transcendent Capital Group LLC purchased a new position in McDonald’s during the 4th quarter valued at $45,000. Institutional investors own 70.29% of the company’s stock.

Insider Buying and Selling at McDonald’s

In other McDonald’s news, EVP Marion K. Gross sold 1,498 shares of the stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $248.26, for a total value of $371,893.48. Following the completion of the sale, the executive vice president now directly owns 1,560 shares in the company, valued at $387,285.60. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, insider Joseph M. Erlinger sold 1,098 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $288.70, for a total value of $316,992.60. Following the completion of the transaction, the insider now directly owns 12,583 shares in the company, valued at $3,632,712.10. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Marion K. Gross sold 1,498 shares of the firm’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $248.26, for a total value of $371,893.48. Following the completion of the transaction, the executive vice president now owns 1,560 shares of the company’s stock, valued at $387,285.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,193 shares of company stock worth $1,403,593. 0.23% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

MCD has been the subject of a number of recent analyst reports. Tigress Financial boosted their price objective on McDonald’s from $355.00 to $360.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. TD Cowen cut McDonald’s from a “buy” rating to a “hold” rating and dropped their price objective for the company from $285.00 to $280.00 in a report on Wednesday, July 31st. Jefferies Financial Group upped their target price on McDonald’s from $310.00 to $330.00 and gave the stock a “buy” rating in a report on Monday, September 9th. Loop Capital reissued a “buy” rating and set a $342.00 price target on shares of McDonald’s in a research report on Tuesday, September 10th. Finally, Evercore ISI increased their price target on McDonald’s from $300.00 to $320.00 and gave the stock an “outperform” rating in a research report on Monday, August 19th. Eleven investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $306.11.

McDonald’s Stock Performance

McDonald’s stock opened at $296.83 on Friday. The stock has a 50-day moving average of $277.30 and a two-hundred day moving average of $270.73. McDonald’s Co. has a one year low of $243.53 and a one year high of $302.39. The stock has a market cap of $213.92 billion, a PE ratio of 25.20, a price-to-earnings-growth ratio of 3.88 and a beta of 0.72.

McDonald’s (NYSE:MCD) last released 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 net margin of 32.25% and a negative return on equity of 178.68%. The business had revenue of $6.49 billion during the quarter, compared to analysts’ expectations of $6.62 billion. During the same quarter last year, the business posted $3.17 earnings per share. The company’s quarterly revenue was down .1% compared to the same quarter last year. As a group, sell-side analysts predict that McDonald’s Co. will post 11.67 EPS for the current fiscal year.

McDonald’s Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were paid a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date of this dividend was Tuesday, September 3rd. McDonald’s’s dividend payout ratio (DPR) is presently 56.71%.

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.