McDonald’s Co. (NYSE:MCD) Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA lessened its stake in McDonald’s Co. (NYSE:MCD) by 2.1% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 90,907 shares of the fast-food giant’s stock after selling 1,928 shares during the period. Massachusetts Financial Services Co. MA’s holdings in McDonald’s were worth $23,167,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Insiders Place Their Bets

In other McDonald’s news, 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 value of $371,893.48. Following the completion of the sale, the executive vice president now directly owns 1,560 shares of the company’s stock, 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 other news, EVP Marion K. Gross sold 1,498 shares of McDonald’s stock in a transaction on 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 sale, the executive vice president now owns 1,560 shares of the company’s stock, valued at $387,285.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 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 value of $316,992.60. Following the transaction, the insider now owns 12,583 shares in the company, valued at $3,632,712.10. The disclosure for this sale can be found here. Insiders have sold 5,193 shares of company stock valued at $1,403,593 in the last ninety days. Insiders own 0.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on MCD shares. Evercore ISI lifted their price objective on shares of McDonald’s from $300.00 to $320.00 and gave the company an “outperform” rating in a research note on Monday, August 19th. Truist Financial dropped their price target on McDonald’s from $300.00 to $295.00 and set a “buy” rating on the stock in a research report on Tuesday, July 30th. The Goldman Sachs Group started coverage on McDonald’s in a research report on Thursday, June 13th. They set a “neutral” rating and a $288.00 price objective for the company. Bank of America dropped their target price on McDonald’s from $288.00 to $278.00 and set a “neutral” rating on the stock in a report on Tuesday, July 30th. Finally, Stifel Nicolaus decreased their price target on McDonald’s from $285.00 to $265.00 and set a “hold” rating for the company in a report on Monday, July 22nd. Eleven investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $306.11.

McDonald’s Price Performance

MCD stock opened at $296.77 on Friday. McDonald’s Co. has a 12 month low of $243.53 and a 12 month high of $302.39. The firm has a market capitalization of $213.88 billion, a PE ratio of 25.19, a P/E/G ratio of 3.88 and a beta of 0.72. The company’s 50 day simple moving average is $277.30 and its 200-day simple moving average is $270.88.

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 negative return on equity of 178.68% and a net margin of 32.25%. The company had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.62 billion. During the same period in the previous year, the business posted $3.17 EPS. The business’s quarterly revenue was down .1% on a year-over-year basis. As a group, 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 announced 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 annualized dividend and a yield of 2.25%. The ex-dividend date was Tuesday, September 3rd. McDonald’s’s payout ratio is 56.71%.

McDonald’s Company 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.