Evoke Wealth LLC Reduces Position in McDonald’s Co. (NYSE:MCD)

Evoke Wealth LLC trimmed its position in McDonald’s Co. (NYSE:MCD) by 66.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,699 shares of the fast-food giant’s stock after selling 5,319 shares during the quarter. McDonald’s accounts for approximately 0.8% of Evoke Wealth LLC’s holdings, making the stock its 23rd biggest holding. Evoke Wealth LLC’s holdings in McDonald’s were worth $688,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MCD. Gallagher Fiduciary Advisors LLC lifted its holdings in McDonald’s by 141,160.9% in the 4th quarter. Gallagher Fiduciary Advisors LLC now owns 5,613,710 shares of the fast-food giant’s stock worth $1,664,521,000 after buying an additional 5,609,736 shares during the period. Capital Research Global Investors lifted its stake in McDonald’s by 66.9% in the first quarter. Capital Research Global Investors now owns 5,471,007 shares of the fast-food giant’s stock worth $1,542,550,000 after acquiring an additional 2,193,769 shares during the period. Swedbank AB bought a new stake in McDonald’s in the first quarter valued at $348,206,000. Capital World Investors boosted its holdings in McDonald’s by 39.7% in the first quarter. Capital World Investors now owns 3,565,398 shares of the fast-food giant’s stock valued at $1,005,264,000 after acquiring an additional 1,012,534 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in McDonald’s by 15.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,347,048 shares of the fast-food giant’s stock valued at $2,178,474,000 after purchasing an additional 987,099 shares during the period. 70.29% of the stock is currently owned by institutional investors.

McDonald’s Stock Performance

NYSE MCD opened at $296.83 on Friday. The stock has a 50-day moving average of $277.30 and a 200 day moving average of $270.73. McDonald’s Co. has a one year low of $243.53 and a one year high of $302.39. The company has a market capitalization of $213.92 billion, a price-to-earnings ratio of 25.20, a PEG ratio of 3.88 and a beta of 0.72.

McDonald’s (NYSE:MCD) last announced its 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 for the quarter, compared to analysts’ expectations 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 quarterly revenue was down .1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.17 earnings per share. On average, equities analysts predict that McDonald’s Co. will post 11.67 earnings per share for the current fiscal year.

McDonald’s Announces Dividend

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

Insider Transactions at McDonald’s

In related news, EVP Marion K. Gross sold 1,498 shares of the business’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 directly owns 1,560 shares in the company, valued at $387,285.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Joseph M. Erlinger sold 1,098 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $288.70, for a total value of $316,992.60. Following the completion of the transaction, the insider now owns 12,583 shares of the company’s stock, valued at approximately $3,632,712.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Marion K. Gross sold 1,498 shares of the firm’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $248.26, for a total value of $371,893.48. Following the sale, the executive vice president now directly owns 1,560 shares in the company, valued at $387,285.60. The disclosure for this sale can be found here. Insiders have sold 5,193 shares of company stock worth $1,403,593 in the last quarter. Company insiders own 0.23% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Bank of America cut their target price on shares of McDonald’s from $288.00 to $278.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 30th. Barclays cut their price objective on McDonald’s from $320.00 to $300.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 30th. Loop Capital reissued a “buy” rating and issued a $342.00 target price on shares of McDonald’s in a research report on Tuesday, September 10th. Jefferies Financial Group raised their target price on McDonald’s from $310.00 to $330.00 and gave the company a “buy” rating in a research note on Monday, September 9th. Finally, KeyCorp reduced their price target on McDonald’s from $310.00 to $305.00 and set an “overweight” rating on the stock in a research note 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, McDonald’s presently has a consensus rating of “Moderate Buy” and a consensus price target of $306.11.

McDonald’s Company 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.