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

Massachusetts Financial Services Co. MA cut its stake in shares of McDonald’s Co. (NYSE:MCD) by 2.1% in the second quarter, according to its most recent disclosure with the SEC. The firm 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 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Dixon Mitchell Investment Counsel Inc. purchased a new position in McDonald’s in the 1st quarter valued at about $28,000. Clear Investment Research LLC acquired a new stake in shares of McDonald’s in the fourth quarter worth approximately $38,000. Kings Path Partners LLC purchased a new stake in shares of McDonald’s during the second quarter worth approximately $38,000. Accent Capital Management LLC acquired a new position in McDonald’s in the 4th quarter valued at $44,000. Finally, Transcendent Capital Group LLC purchased a new position in McDonald’s in the 4th quarter valued at $45,000. 70.29% of the stock is owned by hedge funds and other institutional investors.

McDonald’s Stock Performance

Shares of MCD opened at $296.77 on Friday. The company’s 50-day simple moving average is $277.30 and its 200-day simple moving average is $270.88. McDonald’s Co. has a 1 year low of $243.53 and a 1 year high of $302.39. The stock 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.

McDonald’s (NYSE:MCD) last released its 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). The business had revenue of $6.49 billion for the quarter, compared to analyst estimates of $6.62 billion. McDonald’s had a negative return on equity of 178.68% and a net margin of 32.25%. McDonald’s’s quarterly revenue was down .1% compared to the same quarter last year. During the same quarter last year, the company earned $3.17 earnings per share. On average, sell-side analysts predict that McDonald’s Co. will post 11.67 earnings per share for the current year.

McDonald’s Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were paid a dividend of $1.67 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $6.68 annualized dividend and a yield of 2.25%. McDonald’s’s payout ratio is 56.71%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on MCD shares. TD Cowen cut shares of McDonald’s from a “buy” rating to a “hold” rating and reduced their target price for the company from $285.00 to $280.00 in a research report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft decreased their target price on shares of McDonald’s from $295.00 to $290.00 and set a “buy” rating on the stock in a research note on Tuesday, July 30th. Citigroup upped their price target on McDonald’s from $275.00 to $301.00 and gave the company a “neutral” rating in a research report on Friday, September 13th. Jefferies Financial Group lifted their price objective on McDonald’s from $310.00 to $330.00 and gave the stock a “buy” rating in a research report on Monday, September 9th. Finally, Morgan Stanley dropped their target price on McDonald’s from $312.00 to $300.00 and set an “overweight” rating for the company in a report on Thursday, July 11th. Eleven investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, McDonald’s currently has a consensus rating of “Moderate Buy” and an average target price of $306.11.

Insiders Place Their Bets

In other news, insider Joseph M. Erlinger sold 1,099 shares of McDonald’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $260.00, for a total value of $285,740.00. Following the completion of the transaction, the insider now owns 13,681 shares in the company, valued at approximately $3,557,060. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other McDonald’s 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 value of $371,893.48. Following the sale, the executive vice president now directly owns 1,560 shares in the company, valued at $387,285.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Joseph M. Erlinger sold 1,099 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $260.00, for a total value of $285,740.00. Following the transaction, the insider now directly owns 13,681 shares of the company’s stock, valued at $3,557,060. The disclosure for this sale can be found here. Insiders have sold a total of 5,193 shares of company stock worth $1,403,593 in the last quarter. 0.23% of the stock is owned by company insiders.

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.