Sei Investments Co. Sells 197,867 Shares of McDonald’s Co. (NYSE:MCD)

Sei Investments Co. lowered its stake in McDonald’s Co. (NYSE:MCD) by 59.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 134,749 shares of the fast-food giant’s stock after selling 197,867 shares during the quarter. Sei Investments Co.’s holdings in McDonald’s were worth $34,333,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in MCD. Ranch Capital Advisors Inc. raised its holdings in McDonald’s by 4.7% in the second quarter. Ranch Capital Advisors Inc. now owns 1,719 shares of the fast-food giant’s stock worth $438,000 after purchasing an additional 77 shares during the period. AE Wealth Management LLC raised its stake in McDonald’s by 27.4% during the 2nd quarter. AE Wealth Management LLC now owns 221,118 shares of the fast-food giant’s stock worth $56,350,000 after buying an additional 47,532 shares during the period. Drexel Morgan & Co. lifted its holdings in McDonald’s by 3.6% during the second quarter. Drexel Morgan & Co. now owns 12,579 shares of the fast-food giant’s stock worth $3,206,000 after acquiring an additional 437 shares in the last quarter. Bridges Investment Management Inc. grew its stake in McDonald’s by 107.2% in the second quarter. Bridges Investment Management Inc. now owns 102,282 shares of the fast-food giant’s stock valued at $26,066,000 after acquiring an additional 52,928 shares during the period. Finally, Canada Pension Plan Investment Board increased its holdings in shares of McDonald’s by 5.2% in the second quarter. Canada Pension Plan Investment Board now owns 684,471 shares of the fast-food giant’s stock worth $174,431,000 after acquiring an additional 34,053 shares in the last quarter. 70.29% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on MCD. Morgan Stanley reduced their price target on shares of McDonald’s from $312.00 to $300.00 and set an “overweight” rating for the company in a report on Thursday, July 11th. Loop Capital reiterated a “buy” rating and set a $342.00 target price on shares of McDonald’s in a report on Tuesday, September 10th. Jefferies Financial Group lifted their price target on McDonald’s from $310.00 to $330.00 and gave the company a “buy” rating in a research note on Monday, September 9th. BMO Capital Markets reduced their price objective on McDonald’s from $330.00 to $315.00 and set an “outperform” rating for the company in a research report on Tuesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on McDonald’s from $295.00 to $290.00 and set a “buy” rating on the stock in a research report on Tuesday, July 30th. Eleven equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $306.11.

Insider Activity at McDonald’s

In other McDonald’s news, insider Joseph M. Erlinger sold 1,098 shares of McDonald’s stock in a transaction 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 completion of 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 can be accessed through the SEC website. In other McDonald’s news, EVP Marion K. Gross sold 1,498 shares of the business’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 completion of the sale, the executive vice president now directly 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 is available through this link. Also, insider Joseph M. Erlinger sold 1,098 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider now owns 12,583 shares in the company, valued at $3,632,712.10. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,193 shares of company stock valued at $1,403,593. 0.23% of the stock is owned by insiders.

McDonald’s Trading Up 0.8 %

McDonald’s stock opened at $299.06 on Tuesday. The firm has a market cap of $215.53 billion, a P/E ratio of 25.39, a P/E/G ratio of 3.88 and a beta of 0.72. McDonald’s Co. has a 1-year low of $243.53 and a 1-year high of $302.39. The firm has a 50-day moving average of $278.25 and a 200-day moving average of $270.62.

McDonald’s (NYSE:MCD) last posted 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). The company had revenue of $6.49 billion during the quarter, compared to analysts’ expectations of $6.62 billion. McDonald’s had a negative return on equity of 178.68% and a net margin of 32.25%. The company’s revenue for the quarter was down .1% on a year-over-year basis. During the same period in the prior year, the business posted $3.17 earnings per share. Research analysts forecast that McDonald’s Co. will post 11.67 earnings per share for the current fiscal year.

McDonald’s Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Investors 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 2.23%. The ex-dividend date was Tuesday, September 3rd. McDonald’s’s payout ratio is 56.71%.

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.