Addenda Capital Inc. Sells 63 Shares of McDonald’s Co. (NYSE:MCD)

Addenda Capital Inc. reduced its position in shares of McDonald’s Co. (NYSE:MCD) by 0.3% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 22,423 shares of the fast-food giant’s stock after selling 63 shares during the quarter. Addenda Capital Inc.’s holdings in McDonald’s were worth $6,322,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in MCD. Signature Resources Capital Management LLC bought a new stake in shares of McDonald’s during the 4th quarter valued at about $31,000. Spartan Planning & Wealth Management bought a new position in shares of McDonald’s during the 3rd quarter valued at approximately $33,000. Clear Investment Research LLC bought a new position in shares of McDonald’s during the 4th quarter valued at approximately $38,000. Keener Financial Planning LLC bought a new position in shares of McDonald’s during the 4th quarter valued at approximately $39,000. Finally, Atlantic Edge Private Wealth Management LLC bought a new position in shares of McDonald’s during the 4th quarter valued at approximately $39,000. 70.29% of the stock is currently owned by institutional investors.

McDonald’s Stock Down 1.3 %

Shares of McDonald’s stock opened at $254.79 on Friday. The stock’s fifty day moving average is $263.31 and its two-hundred day moving average is $279.28. The company has a market capitalization of $183.62 billion, a PE ratio of 21.63, a price-to-earnings-growth ratio of 2.91 and a beta of 0.71. McDonald’s Co. has a 52 week low of $245.73 and a 52 week high of $302.39.

McDonald’s (NYSE:MCD) last posted its quarterly earnings results on Tuesday, April 30th. The fast-food giant reported $2.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.71 by ($0.01). McDonald’s had a negative return on equity of 180.74% and a net margin of 33.36%. The firm had revenue of $6.17 billion for the quarter, compared to the consensus estimate of $6.16 billion. During the same period in the previous year, the company posted $2.63 EPS. McDonald’s’s quarterly revenue was up 4.6% compared to the same quarter last year. As a group, research analysts anticipate that McDonald’s Co. will post 12.19 earnings per share for the current year.

McDonald’s Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 3rd were given a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date of this dividend was Monday, June 3rd. McDonald’s’s payout ratio is 56.71%.

Insider Transactions at McDonald’s

In other news, insider Joseph M. Erlinger sold 1,098 shares of the stock in a transaction on Friday, June 21st. The stock was sold at an average price of $260.00, for a total transaction of $285,480.00. Following the transaction, the insider now owns 14,780 shares of the company’s stock, valued at approximately $3,842,800. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Joseph M. Erlinger sold 1,099 shares of the company’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $265.13, for a total transaction of $291,377.87. Following the completion of the sale, the insider now directly owns 15,878 shares in the company, valued at approximately $4,209,734.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Joseph M. Erlinger sold 1,098 shares of the company’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $260.00, for a total value of $285,480.00. Following the sale, the insider now owns 14,780 shares of the company’s stock, valued at $3,842,800. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,095 shares of company stock valued at $1,100,625. 0.23% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts recently issued reports on MCD shares. Robert W. Baird cut their price objective on McDonald’s from $305.00 to $300.00 and set an “outperform” rating for the company in a research note on Wednesday, May 1st. JPMorgan Chase & Co. boosted their price objective on McDonald’s from $290.00 to $300.00 and gave the company an “overweight” rating in a research note on Monday, June 3rd. Guggenheim lowered their price target on McDonald’s from $325.00 to $315.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. Wedbush lowered their price target on McDonald’s from $330.00 to $300.00 and set an “outperform” rating on the stock in a report on Friday, April 26th. Finally, Citigroup lowered their price target on McDonald’s from $312.00 to $297.00 and set a “neutral” rating on the stock in a report on Tuesday, April 16th. Ten equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to MarketBeat.com, McDonald’s currently has an average rating of “Moderate Buy” and an average price target of $315.14.

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.