McDonald’s Co. (NYSE:MCD) Shares Sold by Picton Mahoney Asset Management

Picton Mahoney Asset Management reduced its position in McDonald’s Co. (NYSE:MCD) by 7.9% in the 1st quarter, Holdings Channel.com reports. The fund owned 11,270 shares of the fast-food giant’s stock after selling 965 shares during the quarter. Picton Mahoney Asset Management’s holdings in McDonald’s were worth $3,178,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of MCD. Dixon Mitchell Investment Counsel Inc. acquired a new stake in shares of McDonald’s during the first quarter worth $28,000. Signature Resources Capital Management LLC acquired a new stake in shares of McDonald’s during the fourth quarter worth $31,000. Clear Investment Research LLC acquired a new stake in shares of McDonald’s during the fourth quarter worth $38,000. Keener Financial Planning LLC acquired a new stake in shares of McDonald’s during the fourth quarter worth $39,000. Finally, Atlantic Edge Private Wealth Management LLC acquired a new stake in shares of McDonald’s during the fourth quarter worth $39,000. 70.29% of the stock is owned by institutional investors and hedge funds.

McDonald’s Stock Performance

MCD stock traded down $2.19 during trading on Friday, hitting $257.33. The stock had a trading volume of 3,467,722 shares, compared to its average volume of 3,466,969. The company’s 50 day moving average price is $257.63 and its two-hundred day moving average price is $275.40. McDonald’s Co. has a 1-year low of $243.53 and a 1-year high of $302.39. The stock has a market cap of $185.45 billion, a price-to-earnings ratio of 21.91, a price-to-earnings-growth ratio of 2.95 and a beta of 0.71.

McDonald’s (NYSE:MCD) last announced its earnings results on Tuesday, April 30th. The fast-food giant reported $2.70 earnings per share for the quarter, missing the consensus estimate of $2.71 by ($0.01). McDonald’s had a net margin of 33.36% and a negative return on equity of 180.74%. The firm had revenue of $6.17 billion during the quarter, compared to analyst estimates of $6.16 billion. During the same period in the previous year, the firm posted $2.63 EPS. The company’s revenue for the quarter was up 4.6% compared to the same quarter last year. As a group, sell-side analysts forecast that McDonald’s Co. will post 12.14 earnings per share for the current fiscal year.

McDonald’s Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 3rd were paid a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date was Monday, June 3rd. McDonald’s’s dividend payout ratio is currently 56.71%.

Insider Activity

In other news, insider Joseph M. Erlinger sold 1,098 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $276.64, for a total transaction of $303,750.72. Following the completion of the transaction, the insider now owns 16,977 shares of the company’s stock, valued at approximately $4,696,517.28. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, EVP Marion K. Gross sold 1,498 shares of the business’s stock in a transaction dated Wednesday, July 3rd. The stock was 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 owns 1,560 shares in the company, valued at approximately $387,285.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Joseph M. Erlinger sold 1,098 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $276.64, for a total value of $303,750.72. Following the sale, the insider now owns 16,977 shares of the company’s stock, valued at approximately $4,696,517.28. The disclosure for this sale can be found here. Insiders sold a total of 5,593 shares of company stock valued at $1,472,518 in the last 90 days. 0.23% of the stock is currently owned by insiders.

Analyst Ratings Changes

MCD has been the subject of a number of recent analyst reports. KeyCorp reduced their target price on McDonald’s from $315.00 to $310.00 and set an “overweight” rating for the company in a report on Wednesday, May 1st. Evercore ISI reduced their target price on McDonald’s from $330.00 to $300.00 and set an “outperform” rating for the company in a report on Tuesday. JPMorgan Chase & Co. reduced their target price on McDonald’s from $300.00 to $290.00 and set an “overweight” rating for the company in a report on Wednesday, July 10th. Guggenheim reduced their target price on McDonald’s from $315.00 to $280.00 and set a “buy” rating for the company in a report on Tuesday, July 2nd. Finally, Erste Group Bank reissued a “hold” rating on shares of McDonald’s in a report on Wednesday, April 3rd. Ten research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $309.82.

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.