Intech Investment Management LLC Decreases Position in McDonald’s Co. (NYSE:MCD)

Intech Investment Management LLC cut its stake in shares of McDonald’s Co. (NYSE:MCD) by 31.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 51,595 shares of the fast-food giant’s stock after selling 23,209 shares during the period. Intech Investment Management LLC’s holdings in McDonald’s were worth $13,148,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MCD. Concentric Wealth Management LLC boosted its stake in shares of McDonald’s by 1.4% during the fourth quarter. Concentric Wealth Management LLC now owns 2,551 shares of the fast-food giant’s stock worth $756,000 after buying an additional 35 shares during the period. FinTrust Capital Advisors LLC lifted its position in McDonald’s by 2.9% in the fourth quarter. FinTrust Capital Advisors LLC now owns 1,268 shares of the fast-food giant’s stock valued at $376,000 after purchasing an additional 36 shares during the period. 9258 Wealth Management LLC lifted its position in McDonald’s by 1.3% in the first quarter. 9258 Wealth Management LLC now owns 2,833 shares of the fast-food giant’s stock valued at $799,000 after purchasing an additional 37 shares during the period. Independence Bank of Kentucky lifted its position in McDonald’s by 1.3% in the first quarter. Independence Bank of Kentucky now owns 2,913 shares of the fast-food giant’s stock valued at $821,000 after purchasing an additional 38 shares during the period. Finally, MTM Investment Management LLC lifted its position in McDonald’s by 3.3% in the first quarter. MTM Investment Management LLC now owns 1,174 shares of the fast-food giant’s stock valued at $331,000 after purchasing an additional 38 shares during the period. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

McDonald’s Stock Performance

MCD stock opened at $296.77 on Friday. The stock has a market capitalization of $213.88 billion, a P/E ratio of 25.19, a PEG ratio of 3.88 and a beta of 0.72. McDonald’s Co. has a one year low of $243.53 and a one year high of $302.39. The company has a 50 day moving average price of $277.30 and a two-hundred day moving average price of $270.88.

McDonald’s (NYSE:MCD) last announced its quarterly earnings results on Monday, July 29th. The fast-food giant reported $2.97 earnings per share for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.10). The company had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.62 billion. McDonald’s had a net margin of 32.25% and a negative return on equity of 178.68%. The firm’s revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter last year, the business earned $3.17 EPS. Research analysts forecast that McDonald’s Co. will post 11.67 earnings per share for the current fiscal year.

McDonald’s Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were issued a $1.67 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.25%. McDonald’s’s dividend payout ratio (DPR) is presently 56.71%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Jefferies Financial Group raised their price objective on shares of McDonald’s from $310.00 to $330.00 and gave the company a “buy” rating in a research report on Monday, September 9th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of McDonald’s from $295.00 to $290.00 and set a “buy” rating for the company in a research report on Tuesday, July 30th. The Goldman Sachs Group assumed coverage on shares of McDonald’s in a research report on Thursday, June 13th. They set a “neutral” rating and a $288.00 price target for the company. Evercore ISI lifted their price target on shares of McDonald’s from $300.00 to $320.00 and gave the company an “outperform” rating in a research report on Monday, August 19th. Finally, TD Cowen downgraded shares of McDonald’s from a “buy” rating to a “hold” rating and reduced their price target for the company from $285.00 to $280.00 in a research report on Wednesday, July 31st. Eleven analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $306.11.

Insider Buying and Selling at McDonald’s

In other McDonald’s news, EVP Marion K. Gross sold 1,498 shares of McDonald’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $248.26, for a total value of $371,893.48. Following the transaction, the executive vice president now owns 1,560 shares in the company, valued at approximately $387,285.60. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, EVP Marion K. Gross sold 1,498 shares of McDonald’s stock in a transaction 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 transaction, the executive vice president now owns 1,560 shares in the company, valued at approximately $387,285.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Joseph M. Erlinger sold 1,099 shares of McDonald’s stock in a transaction on Tuesday, July 23rd. The shares were 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 in the company, valued at approximately $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 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.