McDonald’s Co. (NYSE:MCD) Shares Sold by Granite Investment Partners LLC

Granite Investment Partners LLC lessened its holdings in McDonald’s Co. (NYSE:MCD) by 1.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,561 shares of the fast-food giant’s stock after selling 90 shares during the quarter. Granite Investment Partners LLC’s holdings in McDonald’s were worth $1,672,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of MCD. Dixon Mitchell Investment Counsel Inc. purchased a new position in shares of McDonald’s in the first quarter worth $28,000. Clear Investment Research LLC purchased a new position in McDonald’s in the 4th quarter worth $38,000. Kings Path Partners LLC acquired a new stake in McDonald’s during the 2nd quarter worth about $38,000. Accent Capital Management LLC acquired a new position in shares of McDonald’s in the fourth quarter valued at about $44,000. Finally, Transcendent Capital Group LLC purchased a new position in shares of McDonald’s in the fourth quarter worth about $45,000. Hedge funds and other institutional investors own 70.29% of the company’s stock.

McDonald’s Trading Up 1.0 %

Shares of NYSE MCD opened at $296.77 on Friday. The stock has a market cap 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 Co. has a 12-month low of $243.53 and a 12-month high of $302.39. The company has a 50-day moving average of $277.30 and a 200 day moving average of $270.88.

McDonald’s (NYSE:MCD) last posted its quarterly 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). 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%. McDonald’s’s revenue for the quarter was down .1% compared to the same quarter last year. During the same period in the prior year, the business posted $3.17 EPS. On average, sell-side analysts forecast that McDonald’s Co. will post 11.67 EPS for the current fiscal year.

McDonald’s Dividend Announcement

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

Analysts Set New Price Targets

Several brokerages recently weighed in on MCD. Truist Financial cut their price target on shares of McDonald’s from $300.00 to $295.00 and set a “buy” rating on the stock in a report on Tuesday, July 30th. Jefferies Financial Group boosted their target price 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. JPMorgan Chase & Co. increased their price target on McDonald’s from $270.00 to $290.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Citigroup boosted their price objective on McDonald’s from $275.00 to $301.00 and gave the company a “neutral” rating in a report on Friday, September 13th. Finally, Tigress Financial lifted their price target on McDonald’s from $355.00 to $360.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Eleven equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $306.11.

Insider Activity

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 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 owns 1,560 shares in the company, valued at $387,285.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Joseph M. Erlinger sold 1,099 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were 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 in the company, valued at approximately $3,557,060. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Marion K. Gross sold 1,498 shares of McDonald’s 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 completion of the sale, the executive vice president now owns 1,560 shares of the company’s stock, valued at approximately $387,285.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,193 shares of company stock valued at $1,403,593. 0.23% of the stock is currently 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.