Legacy Financial Advisors Inc. Has $1.08 Million Stake in McDonald’s Co. (NYSE:MCD)

Legacy Financial Advisors Inc. lowered its holdings in shares of McDonald’s Co. (NYSE:MCD) by 9.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,242 shares of the fast-food giant’s stock after selling 435 shares during the period. Legacy Financial Advisors Inc.’s holdings in McDonald’s were worth $1,081,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Dixon Mitchell Investment Counsel Inc. bought a new stake in McDonald’s in the first quarter valued at $28,000. Clear Investment Research LLC acquired a new position in shares of McDonald’s in the 4th quarter worth approximately $38,000. Kings Path Partners LLC bought a new stake in McDonald’s during the 2nd quarter worth approximately $38,000. Accent Capital Management LLC bought a new position in McDonald’s in the 4th quarter valued at $44,000. Finally, Transcendent Capital Group LLC acquired a new position in McDonald’s in the fourth quarter worth $45,000. Institutional investors own 70.29% of the company’s stock.

McDonald’s Stock Performance

Shares of NYSE:MCD opened at $296.77 on Friday. The company has a 50-day simple moving average of $277.30 and a 200 day simple moving average of $270.88. The company has a market capitalization of $213.88 billion, a P/E ratio of 25.19, a price-to-earnings-growth ratio of 3.88 and a beta of 0.72. McDonald’s Co. has a 52-week low of $243.53 and a 52-week high of $302.39.

McDonald’s (NYSE:MCD) last issued 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 business had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.62 billion. During the same quarter in the prior year, the firm posted $3.17 earnings per share. The business’s revenue was down .1% compared to the same quarter last year. As a group, equities analysts forecast that McDonald’s Co. will post 11.67 earnings per share for the current 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 given a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a yield of 2.25%. The ex-dividend date of this dividend was Tuesday, September 3rd. McDonald’s’s payout ratio is 56.71%.

Insider Transactions at McDonald’s

In related news, EVP Marion K. Gross sold 1,498 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $286.36, for a total transaction 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, insider Joseph M. Erlinger sold 1,099 shares of the 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 sale, the insider now directly owns 13,681 shares of the company’s stock, valued at approximately $3,557,060. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Marion K. Gross sold 1,498 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $286.36, for a total value of $428,967.28. Following the completion of the transaction, the executive vice president now directly owns 1,560 shares of the company’s stock, valued at approximately $446,721.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,193 shares of company stock valued at $1,403,593. 0.23% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on MCD. Stifel Nicolaus reduced their price target on shares of McDonald’s from $285.00 to $265.00 and set a “hold” rating on the stock in a research report on Monday, July 22nd. Jefferies Financial Group increased their price objective on McDonald’s from $310.00 to $330.00 and gave the company a “buy” rating in a research report on Monday, September 9th. Wedbush restated an “outperform” rating and set a $295.00 target price on shares of McDonald’s in a research report on Monday, July 29th. Morgan Stanley decreased their price target on McDonald’s from $312.00 to $300.00 and set an “overweight” rating on the stock in a report on Thursday, July 11th. Finally, BMO Capital Markets dropped their price objective on McDonald’s from $330.00 to $315.00 and set an “outperform” rating for the company in a report on Tuesday, July 30th. Eleven analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $306.11.

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.