Richardson Financial Services Inc. Sells 75 Shares of McDonald’s Co. (NYSE:MCD)

Richardson Financial Services Inc. cut its position in shares of McDonald’s Co. (NYSE:MCD) by 2.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,143 shares of the fast-food giant’s stock after selling 75 shares during the quarter. Richardson Financial Services Inc.’s holdings in McDonald’s were worth $801,000 as of its most recent SEC filing.

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

McDonald’s Stock Performance

MCD stock opened at $292.02 on Thursday. The firm has a market capitalization of $210.45 billion, a price-to-earnings ratio of 24.79, a PEG ratio of 3.88 and a beta of 0.72. The firm has a 50 day moving average price of $275.66 and a 200-day moving average price of $270.68. McDonald’s Co. has a 52-week low of $243.53 and a 52-week high of $302.39.

McDonald’s (NYSE:MCD) last released its 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 negative return on equity of 178.68% and a net margin of 32.25%. The company had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $6.62 billion. During the same period last year, the firm posted $3.17 earnings per share. The company’s revenue was down .1% compared to the same quarter last year. As a group, sell-side analysts forecast that McDonald’s Co. will post 11.67 earnings per share for the current fiscal year.

McDonald’s Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders 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 dividend on an annualized basis and a yield of 2.29%. McDonald’s’s dividend payout ratio is currently 56.71%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on MCD. Bank of America lowered their target price on McDonald’s from $288.00 to $278.00 and set a “neutral” rating for the company in a research note on Tuesday, July 30th. KeyCorp dropped their price objective on McDonald’s from $310.00 to $305.00 and set an “overweight” rating for the company in a research note on Tuesday, July 30th. Tigress Financial raised their target price on shares of McDonald’s from $355.00 to $360.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. TD Cowen lowered shares of McDonald’s from a “buy” rating to a “hold” rating and lowered their price target for the company from $285.00 to $280.00 in a report on Wednesday, July 31st. Finally, Citigroup raised their price target on shares of McDonald’s from $275.00 to $301.00 and gave the stock a “neutral” rating in a report on Friday, September 13th. Eleven equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to MarketBeat, McDonald’s has a consensus 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 stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $248.26, for a total transaction of $371,893.48. Following the sale, the executive vice president now owns 1,560 shares in the company, valued at $387,285.60. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, 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 transaction of $285,480.00. Following the transaction, the insider now directly owns 14,780 shares of the company’s stock, valued at $3,842,800. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Marion K. Gross sold 1,498 shares of McDonald’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $248.26, for a total value of $371,893.48. Following the completion of the sale, the executive vice president now owns 1,560 shares of the company’s stock, valued at $387,285.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,291 shares of company stock valued at $1,689,073. Insiders own 0.23% of the company’s stock.

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.