ProVise Management Group LLC Sells 2,295 Shares of McDonald’s Co. (NYSE:MCD)

ProVise Management Group LLC cut its position in McDonald’s Co. (NYSE:MCD) by 29.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,407 shares of the fast-food giant’s stock after selling 2,295 shares during the quarter. ProVise Management Group LLC’s holdings in McDonald’s were worth $1,378,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. Concentric Wealth Management LLC increased its stake in shares of McDonald’s by 1.4% in the fourth quarter. Concentric Wealth Management LLC now owns 2,551 shares of the fast-food giant’s stock worth $756,000 after purchasing an additional 35 shares during the period. FinTrust Capital Advisors LLC increased its position in McDonald’s by 2.9% in the 4th quarter. FinTrust Capital Advisors LLC now owns 1,268 shares of the fast-food giant’s stock worth $376,000 after buying an additional 36 shares during the period. 9258 Wealth Management LLC lifted its holdings in shares of McDonald’s by 1.3% during the first quarter. 9258 Wealth Management LLC now owns 2,833 shares of the fast-food giant’s stock worth $799,000 after buying an additional 37 shares during the last quarter. MTM Investment Management LLC lifted its holdings in shares of McDonald’s by 3.3% during the first quarter. MTM Investment Management LLC now owns 1,174 shares of the fast-food giant’s stock worth $331,000 after buying an additional 38 shares during the last quarter. Finally, Weatherly Asset Management L. P. boosted its position in shares of McDonald’s by 0.9% in the first quarter. Weatherly Asset Management L. P. now owns 4,378 shares of the fast-food giant’s stock valued at $1,234,000 after acquiring an additional 38 shares during the period. Institutional investors own 70.29% of the company’s stock.

McDonald’s Price Performance

MCD stock opened at $293.85 on Friday. The stock has a market capitalization of $211.77 billion, a price-to-earnings ratio of 24.94, a P/E/G ratio of 3.88 and a beta of 0.72. The business has a fifty day moving average price of $276.44 and a 200 day moving average price of $270.84. McDonald’s Co. has a fifty-two week low of $243.53 and a fifty-two week high of $302.39.

McDonald’s (NYSE:MCD) last released its quarterly earnings results on Monday, July 29th. The fast-food giant reported $2.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $6.62 billion. During the same period in the prior year, the firm earned $3.17 earnings per share. The business’s quarterly revenue was down .1% compared to the same quarter last year. On average, equities analysts expect that McDonald’s Co. will post 11.67 earnings per share for the current fiscal year.

McDonald’s Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were given a dividend of $1.67 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.27%. McDonald’s’s payout ratio is 56.71%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on MCD shares. Stifel Nicolaus cut their target price on shares of McDonald’s from $285.00 to $265.00 and set a “hold” rating for the company in a research note on Monday, July 22nd. Wedbush reaffirmed an “outperform” rating and set a $295.00 price objective on shares of McDonald’s in a research report on Monday, July 29th. Evercore ISI lifted their target price on McDonald’s from $300.00 to $320.00 and gave the stock an “outperform” rating in a research report on Monday, August 19th. Loop Capital reaffirmed a “buy” rating and issued a $342.00 price target on shares of McDonald’s in a report on Tuesday, September 10th. Finally, Morgan Stanley decreased their price objective on McDonald’s from $312.00 to $300.00 and set an “overweight” rating on the stock in a report on Thursday, July 11th. Eleven investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $306.11.

Insider Activity at McDonald’s

In other McDonald’s news, insider Joseph M. Erlinger sold 1,099 shares of the company’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $260.00, for a total transaction of $285,740.00. Following the transaction, the insider now owns 13,681 shares of the company’s stock, valued at approximately $3,557,060. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, insider Joseph M. Erlinger sold 1,099 shares of the business’s stock in a transaction on Tuesday, July 23rd. The stock was 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 filing with the SEC, which is available at this hyperlink. Also, EVP Marion K. Gross sold 1,498 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now owns 1,560 shares in the company, valued at approximately $387,285.60. The disclosure for this sale can be found here. Insiders sold a total of 5,193 shares of company stock valued at $1,403,593 over the last quarter. Corporate insiders own 0.23% of the company’s stock.

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.