Rice Partnership LLC Has $4.94 Million Position in McDonald’s Co. (NYSE:MCD)

Rice Partnership LLC cut its position in shares of McDonald’s Co. (NYSE:MCD) by 0.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 19,380 shares of the fast-food giant’s stock after selling 83 shares during the quarter. McDonald’s accounts for about 1.1% of Rice Partnership LLC’s portfolio, making the stock its 25th biggest holding. Rice Partnership LLC’s holdings in McDonald’s were worth $4,939,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Dixon Mitchell Investment Counsel Inc. acquired a new position in shares of McDonald’s during the 1st quarter worth about $28,000. Clear Investment Research LLC bought a new stake in McDonald’s during the fourth quarter worth about $38,000. Kings Path Partners LLC acquired a new position in McDonald’s during the second quarter valued at approximately $38,000. Atlantic Edge Private Wealth Management LLC bought a new position in McDonald’s in the fourth quarter valued at approximately $39,000. Finally, Accent Capital Management LLC acquired a new position in shares of McDonald’s during the 4th quarter worth approximately $44,000. Institutional investors and hedge funds own 70.29% of the company’s stock.

McDonald’s Stock Performance

Shares of NYSE:MCD traded up $0.80 during mid-day trading on Monday, reaching $288.66. 2,528,500 shares of the company’s stock were exchanged, compared to its average volume of 3,519,219. McDonald’s Co. has a twelve month low of $243.53 and a twelve month high of $302.39. The firm has a market capitalization of $207.07 billion, a price-to-earnings ratio of 24.50, a PEG ratio of 3.86 and a beta of 0.71. The business’s fifty day moving average price is $265.62 and its 200-day moving average price is $270.76.

McDonald’s (NYSE:MCD) last announced 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 for the quarter, compared to analyst estimates of $6.62 billion. McDonald’s had a negative return on equity of 178.68% and a net margin of 32.25%. The firm’s quarterly revenue was down .1% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.17 earnings per share. Analysts predict that McDonald’s Co. will post 11.67 EPS for the current fiscal year.

McDonald’s Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be given a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date of this dividend is Tuesday, September 3rd. McDonald’s’s dividend payout ratio is presently 56.71%.

Insiders Place Their Bets

In related news, insider Joseph M. Erlinger sold 1,098 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $288.70, for a total value of $316,992.60. Following the transaction, the insider now owns 12,583 shares in the company, valued at $3,632,712.10. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, EVP Marion K. Gross sold 1,498 shares of the company’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $248.26, for a total transaction of $371,893.48. Following the transaction, the executive vice president now owns 1,560 shares in the company, valued at $387,285.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Joseph M. Erlinger sold 1,098 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were 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 $3,632,712.10. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,793 shares of company stock worth $1,260,106. 0.23% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. JPMorgan Chase & Co. cut their price objective on McDonald’s from $290.00 to $270.00 and set an “overweight” rating for the company in a report on Tuesday, July 30th. Citigroup lowered their price objective on shares of McDonald’s from $280.00 to $275.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 30th. The Goldman Sachs Group started coverage on shares of McDonald’s in a report on Thursday, June 13th. They issued a “neutral” rating and a $288.00 target price on the stock. Barclays reduced their price target on McDonald’s from $320.00 to $300.00 and set an “overweight” rating for the company in a report on Tuesday, July 30th. Finally, Loop Capital dropped their price objective on McDonald’s from $357.00 to $342.00 and set a “buy” rating on the stock in a research note on Tuesday, July 30th. Eleven investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to data from MarketBeat, McDonald’s has an average rating of “Moderate Buy” and an average price target of $303.71.

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.