Beese Fulmer Investment Management Inc. Sells 245 Shares of McDonald’s Co. (NYSE:MCD)

Beese Fulmer Investment Management Inc. trimmed its position in McDonald’s Co. (NYSE:MCD) by 0.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 50,866 shares of the fast-food giant’s stock after selling 245 shares during the quarter. McDonald’s accounts for 1.6% of Beese Fulmer Investment Management Inc.’s holdings, making the stock its 14th largest holding. Beese Fulmer Investment Management Inc.’s holdings in McDonald’s were worth $15,179,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in MCD. NewSquare Capital LLC raised its position in shares of McDonald’s by 18.5% in the 1st quarter. NewSquare Capital LLC now owns 218 shares of the fast-food giant’s stock valued at $61,000 after purchasing an additional 34 shares in the last quarter. Ellevest Inc. grew its stake in shares of McDonald’s by 2.4% in the first quarter. Ellevest Inc. now owns 1,436 shares of the fast-food giant’s stock worth $402,000 after purchasing an additional 34 shares in the last quarter. Bremer Bank National Association grew its stake in shares of McDonald’s by 0.4% in the first quarter. Bremer Bank National Association now owns 8,385 shares of the fast-food giant’s stock worth $2,345,000 after purchasing an additional 35 shares in the last quarter. Day & Ennis LLC grew its stake in shares of McDonald’s by 1.7% in the first quarter. Day & Ennis LLC now owns 2,082 shares of the fast-food giant’s stock worth $582,000 after purchasing an additional 35 shares in the last quarter. Finally, MTM Investment Management LLC boosted its stake in McDonald’s by 3.2% during the first quarter. MTM Investment Management LLC now owns 1,135 shares of the fast-food giant’s stock valued at $317,000 after buying an additional 35 shares in the last quarter. 67.60% of the stock is owned by institutional investors.

McDonald’s Price Performance

NYSE:MCD opened at $278.11 on Monday. The company has a market cap of $202.68 billion, a P/E ratio of 25.60, a P/E/G ratio of 2.75 and a beta of 0.64. The stock’s fifty day moving average price is $287.27 and its two-hundred day moving average price is $286.22. McDonald’s Co. has a 1 year low of $230.58 and a 1 year high of $299.35.

McDonald’s (NYSE:MCD) last issued its quarterly earnings data on Thursday, July 27th. The fast-food giant reported $3.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.77 by $0.40. McDonald’s had a negative return on equity of 139.57% and a net margin of 33.06%. The company had revenue of $6.50 billion for the quarter, compared to the consensus estimate of $6.30 billion. During the same quarter last year, the business posted $2.55 earnings per share. The firm’s revenue was up 13.6% compared to the same quarter last year. On average, analysts expect that McDonald’s Co. will post 11.49 earnings per share for the current fiscal year.

McDonald’s Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 18th. Investors of record on Friday, September 1st will be paid a $1.52 dividend. The ex-dividend date of this dividend is Thursday, August 31st. This represents a $6.08 dividend on an annualized basis and a yield of 2.19%. McDonald’s’s dividend payout ratio is presently 55.93%.

Insider Activity at McDonald’s

In other news, insider Joseph M. Erlinger sold 4,487 shares of the firm’s stock in a transaction dated Friday, July 21st. The stock was sold at an average price of $297.87, for a total transaction of $1,336,542.69. Following the transaction, the insider now directly owns 11,412 shares of the company’s stock, valued at $3,399,292.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Joseph M. Erlinger sold 4,487 shares of the stock in a transaction dated Friday, July 21st. The shares were sold at an average price of $297.87, for a total transaction of $1,336,542.69. Following the completion of the sale, the insider now directly owns 11,412 shares in the company, valued at $3,399,292.44. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Marion K. Gross sold 3,000 shares of the stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $289.52, for a total transaction of $868,560.00. Following the sale, the executive vice president now owns 1,605 shares of the company’s stock, valued at $464,679.60. The disclosure for this sale can be found here. Insiders have sold a total of 18,149 shares of company stock valued at $5,257,201 over the last 90 days. 0.27% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on MCD shares. StockNews.com started coverage on McDonald’s in a report on Thursday, August 17th. They set a “buy” rating for the company. TD Cowen reaffirmed an “outperform” rating and set a $326.00 price target on shares of McDonald’s in a research note on Thursday, July 27th. Truist Financial increased their price objective on McDonald’s from $327.00 to $335.00 and gave the company a “buy” rating in a report on Tuesday, July 18th. Loop Capital raised their target price on McDonald’s from $346.00 to $383.00 in a report on Friday, July 28th. Finally, Piper Sandler started coverage on McDonald’s in a report on Wednesday, June 14th. They set a “neutral” rating and a $308.00 price objective on the stock. Five equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $323.17.

About McDonald’s

McDonald's Corporation operates and franchises McDonald's restaurants in the United States and internationally. The company's restaurants offer hamburgers and cheeseburgers, chicken sandwiches and nuggets, fries, salads, shakes, frozen desserts, sundaes, soft serve cones, bakery items, soft drinks, coffee, and beverages and other beverages, as well as breakfast menu, including muffins, Sausages, biscuit and bagel sandwiches, oatmeal, hash browns, breakfast burritos and hotcakes.