IMS Capital Management Has $785,000 Stock Holdings in McDonald’s Co. (NYSE:MCD)

IMS Capital Management decreased its position in McDonald’s Co. (NYSE:MCD) by 2.3% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 3,081 shares of the fast-food giant’s stock after selling 73 shares during the period. IMS Capital Management’s holdings in McDonald’s were worth $785,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Hantz Financial Services Inc. bought a new position in McDonald’s during the 2nd quarter worth $6,612,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in shares of McDonald’s by 58.9% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 138,102 shares of the fast-food giant’s stock valued at $35,194,000 after purchasing an additional 51,210 shares during the period. Brevan Howard Capital Management LP boosted its position in shares of McDonald’s by 411.4% during the 4th quarter. Brevan Howard Capital Management LP now owns 7,497 shares of the fast-food giant’s stock valued at $2,223,000 after purchasing an additional 6,031 shares in the last quarter. BNP Paribas bought a new stake in McDonald’s in the first quarter worth approximately $7,898,000. Finally, First Long Island Investors LLC increased its stake in shares of McDonald’s by 16.6% in the 1st quarter. First Long Island Investors LLC now owns 54,021 shares of the fast-food giant’s stock valued at $15,231,000 after acquiring an additional 7,707 shares in the last quarter. 70.29% of the stock is owned by institutional investors and hedge funds.

McDonald’s Stock Up 0.2 %

Shares of McDonald’s stock opened at $304.37 on Tuesday. McDonald’s Co. has a twelve month low of $243.53 and a twelve month high of $306.96. The firm has a market cap of $219.35 billion, a PE ratio of 25.84, a P/E/G ratio of 3.99 and a beta of 0.72. The business has a 50-day moving average price of $282.61 and a 200 day moving average price of $271.09.

McDonald’s (NYSE:MCD) last posted its quarterly earnings results on Monday, July 29th. The fast-food giant reported $2.97 earnings per share for the quarter, missing the consensus estimate of $3.07 by ($0.10). The business had revenue of $6.49 billion during the quarter, compared to analysts’ expectations of $6.62 billion. McDonald’s had a negative return on equity of 178.68% and a net margin of 32.25%. The business’s quarterly revenue was down .1% on a year-over-year basis. During the same period in the prior year, the business posted $3.17 earnings per share. On average, sell-side analysts expect that McDonald’s Co. will post 11.69 EPS for the current year.

McDonald’s Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a $1.77 dividend. This is a positive change from McDonald’s’s previous quarterly dividend of $1.67. This represents a $7.08 annualized dividend and a yield of 2.33%. The ex-dividend date is Monday, December 2nd. McDonald’s’s payout ratio is 56.71%.

Analyst Ratings Changes

A number of equities research analysts have commented on MCD shares. Barclays reduced their price objective on McDonald’s from $320.00 to $300.00 and set an “overweight” rating for the company in a research note on Tuesday, July 30th. Truist Financial lowered their target price on shares of McDonald’s from $300.00 to $295.00 and set a “buy” rating on the stock in a report on Tuesday, July 30th. BMO Capital Markets lowered their target price on shares of McDonald’s from $330.00 to $315.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 30th. TD Cowen reissued a “hold” rating and issued a $280.00 price target on shares of McDonald’s in a research note on Monday, September 23rd. Finally, Wedbush reaffirmed an “outperform” rating and set a $295.00 price target on shares of McDonald’s in a research note on Monday, July 29th. Eleven investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $308.22.

Insider Transactions at McDonald’s

In other McDonald’s news, CEO Christopher J. Kempczinski sold 11,727 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $300.03, for a total value of $3,518,451.81. Following the completion of the transaction, the chief executive officer now owns 49,885 shares of the company’s stock, valued at approximately $14,966,996.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other McDonald’s news, EVP Marion K. Gross sold 1,498 shares of McDonald’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 transaction, 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 the SEC website. Also, CEO Christopher J. Kempczinski sold 11,727 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $300.03, for a total value of $3,518,451.81. Following the sale, the chief executive officer now owns 49,885 shares of the company’s stock, valued at approximately $14,966,996.55. The disclosure for this sale can be found here. In the last three months, insiders have sold 33,249 shares of company stock worth $9,865,866. 0.23% of the stock is currently owned by insiders.

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.