ELCO Management Co. LLC Reduces Holdings in McDonald’s Co. (NYSE:MCD)

ELCO Management Co. LLC reduced its holdings in shares of McDonald’s Co. (NYSE:MCD) by 19.3% in the second quarter, Holdings Channel reports. The institutional investor owned 2,965 shares of the fast-food giant’s stock after selling 710 shares during the period. ELCO Management Co. LLC’s holdings in McDonald’s were worth $756,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Gilbert & Cook Inc. raised its stake in shares of McDonald’s by 20.7% in the fourth quarter. Gilbert & Cook Inc. now owns 4,384 shares of the fast-food giant’s stock worth $1,300,000 after buying an additional 753 shares during the period. Aveo Capital Partners LLC raised its stake in McDonald’s by 14.5% during the 4th quarter. Aveo Capital Partners LLC now owns 1,899 shares of the fast-food giant’s stock worth $563,000 after acquiring an additional 240 shares during the period. 9258 Wealth Management LLC lifted its holdings in McDonald’s by 4.2% during the fourth quarter. 9258 Wealth Management LLC now owns 2,796 shares of the fast-food giant’s stock valued at $829,000 after purchasing an additional 113 shares in the last quarter. Gryphon Financial Partners LLC boosted its position in shares of McDonald’s by 99.3% in the fourth quarter. Gryphon Financial Partners LLC now owns 5,892 shares of the fast-food giant’s stock worth $1,722,000 after purchasing an additional 2,935 shares during the period. Finally, Artisan Partners Limited Partnership purchased a new stake in shares of McDonald’s in the fourth quarter worth $5,190,000. 70.29% of the stock is currently owned by institutional investors.

McDonald’s Trading Up 0.4 %

Shares of MCD opened at $300.27 on Wednesday. The firm has a market capitalization of $215.40 billion, a P/E ratio of 25.49, a P/E/G ratio of 3.99 and a beta of 0.72. McDonald’s Co. has a 12-month low of $243.53 and a 12-month high of $302.39. The firm has a fifty day moving average price of $279.11 and a 200-day moving average price of $270.68.

McDonald’s (NYSE:MCD) last issued its earnings results on Monday, July 29th. The fast-food giant reported $2.97 EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $6.62 billion. During the same quarter in the prior year, the company earned $3.17 earnings per share. McDonald’s’s revenue was down .1% on a year-over-year basis. Analysts predict that McDonald’s Co. will post 11.69 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. Shareholders of record on Tuesday, September 3rd were given a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date was Tuesday, September 3rd. McDonald’s’s dividend payout ratio (DPR) is presently 56.71%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on MCD shares. BMO Capital Markets dropped their target price on shares of McDonald’s from $330.00 to $315.00 and set an “outperform” rating for the company in a report on Tuesday, July 30th. Wedbush reiterated an “outperform” rating and set a $295.00 target price on shares of McDonald’s in a research report on Monday, July 29th. JPMorgan Chase & Co. boosted their price target on McDonald’s from $270.00 to $290.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. Barclays dropped their price target on McDonald’s from $320.00 to $300.00 and set an “overweight” rating for the company in a research note on Tuesday, July 30th. Finally, Evercore ISI boosted their target price on shares of McDonald’s from $300.00 to $320.00 and gave the stock an “outperform” rating in a report on Monday, August 19th. Eleven investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat.com, McDonald’s presently has a consensus rating of “Moderate Buy” and an average target price of $307.48.

Insiders Place Their Bets

In other news, EVP Marion K. Gross sold 1,498 shares of the firm’s stock in a transaction 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 transaction, the executive vice president now owns 1,560 shares in the company, valued at $387,285.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other McDonald’s news, EVP Marion K. Gross sold 1,498 shares of the stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $248.26, for a total transaction of $371,893.48. Following the transaction, the executive vice president now directly 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 can be accessed through this hyperlink. Also, insider Joseph M. Erlinger sold 1,098 shares of the company’s stock in a transaction that occurred 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 sale, the insider now directly owns 12,583 shares of the company’s stock, valued at approximately $3,632,712.10. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,231 shares of company stock worth $3,513,659. 0.23% of the stock is currently owned by company insiders.

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.