Cognios Beta Neutral Large Cap Fund LP Trims Stake in McDonald’s Co. (NYSE:MCD)

Cognios Beta Neutral Large Cap Fund LP lessened its position in McDonald’s Co. (NYSE:MCD) by 7.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,785 shares of the fast-food giant’s stock after selling 144 shares during the quarter. Cognios Beta Neutral Large Cap Fund LP’s holdings in McDonald’s were worth $503,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Norges Bank purchased a new stake in McDonald’s in the 4th quarter valued at about $2,684,899,000. Gallagher Fiduciary Advisors LLC increased its holdings in McDonald’s by 141,160.9% during 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 purchasing an additional 5,609,736 shares during the period. International Assets Investment Management LLC lifted its holdings in shares of McDonald’s by 10,702.5% in the 4th quarter. International Assets Investment Management LLC now owns 2,174,426 shares of the fast-food giant’s stock worth $644,739,000 after buying an additional 2,154,297 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of 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 worth $2,178,474,000 after buying an additional 987,099 shares in the last quarter. Finally, CIBC Private Wealth Group LLC increased its stake in shares of McDonald’s by 552.2% during the fourth quarter. CIBC Private Wealth Group LLC now owns 791,639 shares of the fast-food giant’s stock valued at $234,729,000 after buying an additional 670,261 shares during the period. 70.29% of the stock is owned by hedge funds and other institutional investors.

McDonald’s Trading Up 2.3 %

Shares of MCD stock traded up $5.77 during mid-day trading on Tuesday, reaching $257.30. The stock had a trading volume of 4,171,333 shares, compared to its average volume of 3,465,472. McDonald’s Co. has a 1-year low of $243.53 and a 1-year high of $302.39. The firm has a market cap of $185.43 billion, a price-to-earnings ratio of 21.84, a PEG ratio of 2.86 and a beta of 0.71. The business’s fifty day moving average is $257.95 and its 200-day moving average is $275.62.

McDonald’s (NYSE:MCD) last posted its quarterly earnings results on Tuesday, April 30th. The fast-food giant reported $2.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.71 by ($0.01). The business had revenue of $6.17 billion for the quarter, compared to analysts’ expectations of $6.16 billion. McDonald’s had a negative return on equity of 180.74% and a net margin of 33.36%. The business’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same period in the prior year, the business posted $2.63 earnings per share. On average, analysts forecast that McDonald’s Co. will post 12.17 earnings per share for the current year.

McDonald’s Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 3rd were issued a $1.67 dividend. This represents a $6.68 annualized dividend and a yield of 2.60%. The ex-dividend date was Monday, June 3rd. McDonald’s’s payout ratio is 56.71%.

Insiders Place Their Bets

In other news, EVP Jonathan Banner sold 800 shares of the company’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $275.02, for a total value of $220,016.00. Following the sale, the executive vice president now owns 19 shares in the company, valued at $5,225.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Jonathan Banner sold 800 shares of the business’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $275.02, for a total value of $220,016.00. Following the completion of the transaction, the executive vice president now directly owns 19 shares in the company, valued at approximately $5,225.38. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Marion K. Gross sold 1,498 shares of McDonald’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 transaction, the executive vice president now directly 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 three months, insiders have sold 5,593 shares of company stock valued at $1,472,518. Company insiders own 0.23% of the company’s stock.

Analyst Ratings Changes

MCD has been the topic of several recent research reports. The Goldman Sachs Group initiated coverage on shares of McDonald’s in a report on Thursday, June 13th. They set a “neutral” rating and a $288.00 target price on the stock. Bank of America cut their price objective on shares of McDonald’s from $302.00 to $288.00 and set a “neutral” rating on the stock in a report on Tuesday, May 28th. 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. Robert W. Baird reduced their price target on McDonald’s from $305.00 to $300.00 and set an “outperform” rating for the company in a research report on Wednesday, May 1st. Finally, Erste Group Bank reaffirmed a “hold” rating on shares of McDonald’s in a research report on Wednesday, April 3rd. Ten equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $310.71.

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.