Neville Rodie & Shaw Inc. Trims Stock Position in McDonald’s Co. (NYSE:MCD)

Neville Rodie & Shaw Inc. trimmed its stake in McDonald’s Co. (NYSE:MCD) by 2.5% during the third quarter, HoldingsChannel reports. The institutional investor owned 29,340 shares of the fast-food giant’s stock after selling 750 shares during the period. Neville Rodie & Shaw Inc.’s holdings in McDonald’s were worth $8,934,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MCD. Mattson Financial Services LLC purchased a new position in shares of McDonald’s during the second quarter worth about $2,740,000. Centaurus Financial Inc. grew its stake in McDonald’s by 3.6% during the 2nd quarter. Centaurus Financial Inc. now owns 5,387 shares of the fast-food giant’s stock worth $1,373,000 after buying an additional 187 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its stake in McDonald’s by 312.9% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 41,370 shares of the fast-food giant’s stock worth $10,543,000 after buying an additional 31,351 shares during the last quarter. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group lifted its stake in McDonald’s by 12.5% in the second quarter. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group now owns 4,738 shares of the fast-food giant’s stock valued at $1,207,000 after buying an additional 528 shares during the last quarter. Finally, American Trust lifted its stake in McDonald’s by 10.9% in the second quarter. American Trust now owns 7,653 shares of the fast-food giant’s stock valued at $1,950,000 after buying an additional 754 shares during the last quarter. 70.29% of the stock is currently owned by institutional investors and hedge funds.

McDonald’s Price Performance

Shares of NYSE:MCD opened at $303.82 on Thursday. The business has a 50-day moving average of $284.59 and a two-hundred day moving average of $271.49. The firm has a market capitalization of $218.96 billion, a PE ratio of 25.79, a P/E/G ratio of 3.99 and a beta of 0.73. McDonald’s Co. has a 12 month low of $243.53 and a 12 month high of $306.96.

McDonald’s (NYSE:MCD) last posted 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). McDonald’s had a net margin of 32.25% and a negative return on equity of 178.68%. The business had revenue of $6.49 billion during the quarter, compared to analysts’ expectations of $6.62 billion. During the same quarter in the previous year, the business posted $3.17 EPS. The company’s quarterly revenue was down .1% on a year-over-year basis. As a group, research analysts anticipate that McDonald’s Co. will post 11.69 earnings per share for the current year.

McDonald’s Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a $1.77 dividend. This is an increase from McDonald’s’s previous quarterly dividend of $1.67. This represents a $7.08 annualized dividend and a yield of 2.33%. The ex-dividend date is Monday, December 2nd. McDonald’s’s dividend payout ratio is currently 60.10%.

Insider Buying and Selling at McDonald’s

In related news, insider Joseph M. Erlinger sold 1,098 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $288.70, for a total transaction of $316,992.60. Following the sale, the insider now directly owns 12,583 shares in the company, valued at approximately $3,632,712.10. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other McDonald’s news, insider Joseph M. Erlinger sold 1,099 shares of the business’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $260.00, for a total transaction of $285,740.00. Following the completion of the sale, the insider now owns 13,681 shares in the company, valued at $3,557,060. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Joseph M. Erlinger sold 1,098 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $288.70, for a total value of $316,992.60. Following the completion of the sale, the insider now directly 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 31,751 shares of company stock valued at $9,493,973 over the last three months. 0.23% of the stock is owned by company insiders.

Analysts Set New Price Targets

MCD has been the subject of several research reports. Bank of America reduced their price target on shares of McDonald’s from $288.00 to $278.00 and set a “neutral” rating for the company in a research report on Tuesday, July 30th. Robert W. Baird increased their target price on shares of McDonald’s from $280.00 to $320.00 and gave the stock an “outperform” rating in a research note on Thursday, September 26th. Guggenheim boosted their price target on McDonald’s from $280.00 to $290.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Truist Financial decreased 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. Finally, TD Cowen reissued a “hold” rating and issued a $280.00 target price on shares of McDonald’s in a report on Monday, September 23rd. Eleven equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $309.15.

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.