Sienna Gestion Sells 96 Shares of McDonald’s Co. (NYSE:MCD)

Sienna Gestion lowered its position in shares of McDonald’s Co. (NYSE:MCD) by 0.3% in the 2nd quarter, Holdings Channel.com reports. The fund owned 31,872 shares of the fast-food giant’s stock after selling 96 shares during the quarter. Sienna Gestion’s holdings in McDonald’s were worth $8,118,000 as of its most recent SEC filing.

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

McDonald’s Trading Down 0.6 %

NYSE:MCD opened at $292.02 on Thursday. The stock 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. The stock has a market capitalization of $210.45 billion, a P/E ratio of 24.79, a P/E/G ratio of 3.88 and a beta of 0.72.

McDonald’s (NYSE:MCD) last released its quarterly earnings data on Monday, July 29th. The fast-food giant reported $2.97 earnings per share (EPS) 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 for the quarter, compared to the consensus estimate of $6.62 billion. During the same quarter in the previous year, the business earned $3.17 EPS. The company’s quarterly revenue was down .1% on a year-over-year basis. On average, research analysts predict that McDonald’s Co. will post 11.67 earnings per share for the current fiscal year.

McDonald’s Announces Dividend

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

Analyst Ratings Changes

A number of analysts have recently commented on MCD shares. 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 research note on Friday, August 2nd. Loop Capital reaffirmed a “buy” rating and issued a $342.00 target price on shares of McDonald’s in a research report on Tuesday, September 10th. Morgan Stanley lowered their price target on McDonald’s from $312.00 to $300.00 and set an “overweight” rating on the stock in a report on Thursday, July 11th. Bank of America dropped their price target on McDonald’s from $288.00 to $278.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 30th. Finally, Truist Financial reduced their price objective on McDonald’s from $300.00 to $295.00 and set a “buy” rating for the company in a research report on Tuesday, July 30th. Eleven research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $306.11.

Insiders Place Their Bets

In other news, EVP Marion K. Gross sold 1,498 shares of the stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $248.26, for a total transaction of $371,893.48. Following the completion of the transaction, the executive vice president now directly owns 1,560 shares in the company, valued at approximately $387,285.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Marion K. Gross sold 1,498 shares of the company’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 of the company’s stock, valued at $387,285.60. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Joseph M. Erlinger sold 1,098 shares of McDonald’s stock in a transaction on 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 directly 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 have sold a total of 6,291 shares of company stock valued at $1,689,073 in the last quarter. 0.23% of the stock is currently owned by insiders.

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.