SPC Financial Inc. Trims Holdings in McDonald’s Co. (NYSE:MCD)

SPC Financial Inc. trimmed its stake in shares of McDonald’s Co. (NYSE:MCD) by 1.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,733 shares of the fast-food giant’s stock after selling 50 shares during the quarter. SPC Financial Inc.’s holdings in McDonald’s were worth $951,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Hantz Financial Services Inc. purchased a new position in shares of McDonald’s during the 2nd quarter valued at $6,612,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in shares of McDonald’s by 58.9% during 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 acquiring an additional 51,210 shares during the last quarter. Brevan Howard Capital Management LP grew its holdings in shares of McDonald’s by 411.4% during the fourth quarter. Brevan Howard Capital Management LP now owns 7,497 shares of the fast-food giant’s stock worth $2,223,000 after purchasing an additional 6,031 shares in the last quarter. BNP Paribas bought a new position in shares of McDonald’s in the first quarter worth approximately $7,898,000. Finally, First Long Island Investors LLC raised its stake in McDonald’s by 16.6% in the first quarter. First Long Island Investors LLC now owns 54,021 shares of the fast-food giant’s stock valued at $15,231,000 after purchasing an additional 7,707 shares in the last quarter. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Analyst Upgrades and Downgrades

MCD has been the subject of a number of research reports. Evercore ISI boosted their price target on shares of McDonald’s from $300.00 to $320.00 and gave the stock an “outperform” rating in a research note on Monday, August 19th. Wedbush reissued an “outperform” rating and issued a $295.00 target price on shares of McDonald’s in a research note on Monday, July 29th. TD Cowen reaffirmed a “hold” rating and set a $280.00 price target on shares of McDonald’s in a research note on Monday, September 23rd. BMO Capital Markets reduced their price objective on McDonald’s from $330.00 to $315.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 30th. Finally, Citigroup boosted their target price on McDonald’s from $275.00 to $301.00 and gave the stock a “neutral” rating in a research report on Friday, September 13th. Eleven investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat, McDonald’s currently has a consensus rating of “Moderate Buy” and a consensus price target of $308.22.

McDonald’s Stock Performance

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

McDonald’s (NYSE:MCD) last released 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). 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 the consensus estimate of $6.62 billion. During the same quarter last year, the firm earned $3.17 EPS. The business’s revenue was down .1% on a year-over-year basis. As a group, equities analysts predict that McDonald’s Co. will post 11.69 EPS for the current year.

McDonald’s Increases Dividend

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

Insiders Place Their Bets

In other news, insider Joseph M. Erlinger sold 1,098 shares of the stock in a transaction that occurred on 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 owns 12,583 shares of the company’s stock, valued at approximately $3,632,712.10. 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 business’s stock in a transaction 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 sale, the executive vice president now owns 1,560 shares in the company, valued at approximately $387,285.60. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Joseph M. Erlinger sold 1,098 shares of the stock in a transaction dated 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 owns 12,583 shares of the company’s stock, valued at $3,632,712.10. The disclosure for this sale can be found here. Insiders sold 33,249 shares of company stock worth $9,865,866 over the last three months. Company insiders own 0.23% of the company’s stock.

About McDonald’s

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.