Burgundy Asset Management Ltd. Has $15.49 Million Position in McDonald’s Co. (NYSE:MCD)

Burgundy Asset Management Ltd. reduced its stake in McDonald’s Co. (NYSE:MCD) by 4.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 60,773 shares of the fast-food giant’s stock after selling 2,600 shares during the quarter. Burgundy Asset Management Ltd.’s holdings in McDonald’s were worth $15,487,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in MCD. Concentric Wealth Management LLC lifted its holdings in shares of McDonald’s by 1.4% during the 4th quarter. Concentric Wealth Management LLC now owns 2,551 shares of the fast-food giant’s stock worth $756,000 after acquiring an additional 35 shares during the period. FinTrust Capital Advisors LLC lifted its stake in McDonald’s by 2.9% in the 4th quarter. FinTrust Capital Advisors LLC now owns 1,268 shares of the fast-food giant’s stock valued at $376,000 after purchasing an additional 36 shares during the last quarter. 9258 Wealth Management LLC lifted its stake in McDonald’s by 1.3% in the 1st quarter. 9258 Wealth Management LLC now owns 2,833 shares of the fast-food giant’s stock valued at $799,000 after purchasing an additional 37 shares during the last quarter. MTM Investment Management LLC boosted its position in McDonald’s by 3.3% in the first quarter. MTM Investment Management LLC now owns 1,174 shares of the fast-food giant’s stock valued at $331,000 after buying an additional 38 shares in the last quarter. Finally, Weatherly Asset Management L. P. increased its holdings in shares of McDonald’s by 0.9% during the first quarter. Weatherly Asset Management L. P. now owns 4,378 shares of the fast-food giant’s stock worth $1,234,000 after buying an additional 38 shares in the last quarter. 70.29% of the stock is owned by institutional investors and hedge funds.

McDonald’s Price Performance

Shares of NYSE:MCD opened at $292.02 on Thursday. The company has a market capitalization of $210.45 billion, a PE ratio of 24.79, a price-to-earnings-growth ratio of 3.88 and a beta of 0.72. The business has a fifty day moving average price of $275.66 and a two-hundred day moving average price of $270.68. McDonald’s Co. has a 1 year low of $243.53 and a 1 year high of $302.39.

McDonald’s (NYSE:MCD) last announced its quarterly earnings data 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 firm had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.62 billion. McDonald’s had a net margin of 32.25% and a negative return on equity of 178.68%. McDonald’s’s revenue for the quarter was down .1% on a year-over-year basis. During the same period last year, the company posted $3.17 earnings per share. Sell-side analysts anticipate that McDonald’s Co. will post 11.67 earnings per share for the current year.

McDonald’s Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Investors 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 2.29%. The ex-dividend date was Tuesday, September 3rd. McDonald’s’s dividend payout ratio is currently 56.71%.

Insider Buying and Selling at McDonald’s

In other news, EVP Marion K. Gross sold 1,498 shares of McDonald’s stock in a transaction dated Wednesday, July 3rd. The shares were 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 in the company, valued at $387,285.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Joseph M. Erlinger sold 1,099 shares of the stock in a transaction dated Tuesday, July 23rd. The stock was 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 accessible through 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 approximately $387,285.60. The disclosure for this sale can be found here. Insiders have sold a total of 6,291 shares of company stock valued at $1,689,073 over the last three months. 0.23% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on MCD shares. Loop Capital restated a “buy” rating and set a $342.00 price target on shares of McDonald’s in a report on Tuesday, September 10th. Guggenheim lifted their price target on shares of McDonald’s from $280.00 to $290.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Wedbush restated an “outperform” rating and set a $295.00 price target on shares of McDonald’s in a report on Monday, July 29th. Jefferies Financial Group increased their price target on McDonald’s from $310.00 to $330.00 and gave the stock a “buy” rating in a report on Monday, September 9th. Finally, Stifel Nicolaus decreased their target price on McDonald’s from $285.00 to $265.00 and set a “hold” rating for the company in a research note on Monday, July 22nd. Eleven equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. Based on data from MarketBeat.com, McDonald’s has an average rating of “Moderate Buy” and a consensus price target of $306.11.

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.