McDonald’s Co. (NYSE:MCD) Shares Sold by Carolinas Wealth Consulting LLC

Carolinas Wealth Consulting LLC lowered its holdings in McDonald’s Co. (NYSE:MCD) by 38.9% during the second quarter, Holdings Channel reports. The fund owned 373 shares of the fast-food giant’s stock after selling 237 shares during the quarter. Carolinas Wealth Consulting LLC’s holdings in McDonald’s were worth $95,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the business. Dixon Mitchell Investment Counsel Inc. acquired a new position in shares of McDonald’s in the 1st quarter valued at about $28,000. Clear Investment Research LLC purchased a new stake in McDonald’s in the 4th quarter worth approximately $38,000. Kings Path Partners LLC acquired a new stake in shares of McDonald’s during the 2nd quarter worth approximately $38,000. Accent Capital Management LLC purchased a new position in shares of McDonald’s during the 4th quarter valued at approximately $44,000. Finally, Transcendent Capital Group LLC acquired a new position in shares of McDonald’s in the 4th quarter valued at $45,000. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on the stock. TD Cowen lowered shares of McDonald’s from a “buy” rating to a “hold” rating and dropped their price target for the company from $285.00 to $280.00 in a research report on Wednesday, July 31st. Evercore ISI lifted 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. Barclays lowered their price target on McDonald’s from $320.00 to $300.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 30th. JPMorgan Chase & Co. boosted their price objective on McDonald’s from $270.00 to $290.00 and gave the company an “overweight” rating in a research report on Monday. Finally, Morgan Stanley dropped their price target on shares of McDonald’s from $312.00 to $300.00 and set an “overweight” rating on the stock in a research note on Thursday, July 11th. Eleven equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $306.11.

McDonald’s Trading Down 0.6 %

McDonald’s stock opened at $292.02 on Thursday. The stock has a market cap of $210.45 billion, a P/E ratio of 24.79, a PEG ratio of 3.88 and a beta of 0.72. The company has a 50-day moving average price of $275.66 and a 200 day moving average price of $270.68. McDonald’s Co. has a 12-month low of $243.53 and a 12-month high of $302.39.

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 the consensus estimate of $3.07 by ($0.10). The firm had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.62 billion. McDonald’s had a net margin of 32.25% and a negative return on equity of 178.68%. The firm’s quarterly revenue was down .1% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.17 EPS. As a group, analysts forecast that McDonald’s Co. will post 11.67 EPS for the current year.

McDonald’s Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were issued a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date was Tuesday, September 3rd. McDonald’s’s dividend payout ratio is presently 56.71%.

Insider Buying and Selling

In other McDonald’s news, insider Joseph M. Erlinger sold 1,098 shares of the company’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $260.00, for a total value of $285,480.00. Following the transaction, the insider now owns 14,780 shares of the company’s stock, valued at $3,842,800. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Joseph M. Erlinger sold 1,098 shares of the company’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $260.00, for a total value of $285,480.00. Following the transaction, the insider now directly owns 14,780 shares in the company, valued at approximately $3,842,800. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Marion K. Gross sold 1,498 shares of McDonald’s stock in a transaction that occurred 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 completion of the sale, 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. In the last ninety days, insiders sold 6,291 shares of company stock valued at $1,689,073. 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.