Burgundy Asset Management Ltd. Sells 2,600 Shares of McDonald’s Co. (NYSE:MCD)

Burgundy Asset Management Ltd. trimmed its position in McDonald’s Co. (NYSE:MCD) by 4.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 60,773 shares of the fast-food giant’s stock after selling 2,600 shares during the quarter. Burgundy Asset Management Ltd.’s holdings in McDonald’s were worth $15,487,000 at the end of the most recent reporting period.

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

McDonald’s Trading Down 0.6 %

MCD opened at $292.02 on Thursday. The stock has a market capitalization of $210.45 billion, a P/E ratio of 24.79, a P/E/G ratio of 3.88 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’s fifty day simple moving average is $275.66 and its 200 day simple moving average is $270.68.

McDonald’s (NYSE:MCD) last issued its quarterly 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). The firm had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $6.62 billion. McDonald’s had a net margin of 32.25% and a negative return on equity of 178.68%. The business’s revenue for the quarter was down .1% on a year-over-year basis. During the same quarter last year, the firm earned $3.17 earnings per share. On average, equities research analysts predict that McDonald’s Co. will post 11.67 EPS for the current fiscal year.

McDonald’s Announces Dividend

The company also recently declared 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 2.29%. The ex-dividend date was Tuesday, September 3rd. McDonald’s’s dividend payout ratio (DPR) is currently 56.71%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on MCD shares. Deutsche Bank Aktiengesellschaft cut their target price on McDonald’s from $295.00 to $290.00 and set a “buy” rating for the company in a research report on Tuesday, July 30th. Wedbush reissued an “outperform” rating and set a $295.00 price objective on shares of McDonald’s in a report on Monday, July 29th. Evercore ISI boosted their target price on McDonald’s from $300.00 to $320.00 and gave the stock an “outperform” rating in a report on Monday, August 19th. Guggenheim increased their price objective on shares of McDonald’s from $280.00 to $290.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Finally, The Goldman Sachs Group initiated coverage on McDonald’s in a research note on Thursday, June 13th. They issued a “neutral” rating and a $288.00 target price for the company. Eleven investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $306.11.

Insiders Place Their Bets

In other news, EVP Marion K. Gross sold 1,498 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $286.36, for a total value of $428,967.28. Following the sale, the executive vice president now owns 1,560 shares of the company’s stock, valued at $446,721.60. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related 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 sale, the insider now owns 13,681 shares of the company’s stock, valued at $3,557,060. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Marion K. Gross sold 1,498 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $286.36, for a total value of $428,967.28. Following the transaction, the executive vice president now directly owns 1,560 shares of the company’s stock, valued at $446,721.60. The disclosure for this sale can be found here. Insiders sold a total of 6,291 shares of company stock valued at $1,689,073 in the last quarter. 0.23% of the stock is currently owned by 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.