1832 Asset Management L.P. Sells 20,745 Shares of McDonald’s Co. (NYSE:MCD)

1832 Asset Management L.P. cut its stake in shares of McDonald’s Co. (NYSE:MCD) by 1.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,624,839 shares of the fast-food giant’s stock after selling 20,745 shares during the quarter. 1832 Asset Management L.P. owned about 0.23% of McDonald’s worth $414,074,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Mount Yale Investment Advisors LLC increased its holdings in McDonald’s by 12.8% in the 2nd quarter. Mount Yale Investment Advisors LLC now owns 3,470 shares of the fast-food giant’s stock worth $884,000 after buying an additional 395 shares in the last quarter. Frank Rimerman Advisors LLC increased its holdings in McDonald’s by 35,761.3% in the 2nd quarter. Frank Rimerman Advisors LLC now owns 11,117 shares of the fast-food giant’s stock worth $2,833,000 after buying an additional 11,086 shares in the last quarter. Holderness Investments Co. increased its holdings in McDonald’s by 0.4% in the 2nd quarter. Holderness Investments Co. now owns 12,595 shares of the fast-food giant’s stock worth $3,210,000 after buying an additional 45 shares in the last quarter. ProShare Advisors LLC increased its holdings in McDonald’s by 12.0% in the 2nd quarter. ProShare Advisors LLC now owns 845,870 shares of the fast-food giant’s stock worth $215,562,000 after buying an additional 90,349 shares in the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC increased its holdings in McDonald’s by 10.4% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 68,939 shares of the fast-food giant’s stock worth $17,568,000 after buying an additional 6,506 shares in the last quarter. 70.29% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Guggenheim lifted their price objective on McDonald’s from $280.00 to $290.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. TD Cowen downgraded McDonald’s from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $285.00 to $280.00 in a report on Wednesday, July 31st. Morgan Stanley dropped their target price on McDonald’s from $312.00 to $300.00 and set an “overweight” rating on the stock in a research report on Thursday, July 11th. Evercore ISI raised their target price on McDonald’s from $300.00 to $320.00 and gave the stock an “outperform” rating in a research report on Monday, August 19th. Finally, The Goldman Sachs Group started coverage on McDonald’s in a research report on Thursday, June 13th. They issued a “neutral” rating and a $288.00 target price on the stock. Eleven research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $306.11.

McDonald’s Trading Up 1.0 %

Shares of MCD opened at $296.83 on Friday. The business’s 50 day moving average is $277.30 and its 200 day moving average is $270.73. The company has a market capitalization of $213.92 billion, a PE ratio of 25.20, a price-to-earnings-growth 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.

McDonald’s (NYSE:MCD) last issued its earnings results on Monday, July 29th. The fast-food giant reported $2.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.07 by ($0.10). McDonald’s had a net margin of 32.25% and a negative return on equity of 178.68%. The business had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.62 billion. During the same period last year, the business posted $3.17 EPS. The firm’s revenue for the quarter was down .1% compared to the same quarter last year. Equities research analysts predict 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 paid a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date was Tuesday, September 3rd. McDonald’s’s payout ratio is 56.71%.

Insiders Place Their Bets

In other McDonald’s news, EVP Marion K. Gross sold 1,498 shares of McDonald’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $387,285.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other McDonald’s news, insider Joseph M. Erlinger sold 1,098 shares of McDonald’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $288.70, for a total value of $316,992.60. Following the sale, the insider now owns 12,583 shares of the company’s stock, valued at approximately $3,632,712.10. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, 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 value of $371,893.48. Following the transaction, the executive vice president now directly owns 1,560 shares in the company, valued at approximately $387,285.60. The disclosure for this sale can be found here. Insiders have sold a total of 5,193 shares of company stock valued at $1,403,593 in the last quarter. 0.23% of the stock is currently owned by insiders.

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.