Private Client Services LLC Sells 39 Shares of McDonald’s Corporation $MCD

Private Client Services LLC trimmed its position in McDonald’s Corporation (NYSE:MCD) by 3.4% during the 2nd quarter, HoldingsChannel reports. The firm owned 1,100 shares of the fast-food giant’s stock after selling 39 shares during the quarter. Private Client Services LLC’s holdings in McDonald’s were worth $321,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mascagni Wealth Management Inc. bought a new stake in McDonald’s in the 4th quarter worth approximately $25,000. HFM Investment Advisors LLC bought a new stake in McDonald’s in the 1st quarter worth approximately $26,000. Nova Wealth Management Inc. bought a new stake in McDonald’s in the 1st quarter worth approximately $26,000. Pinney & Scofield Inc. bought a new stake in McDonald’s in the 4th quarter worth approximately $29,000. Finally, Abound Financial LLC bought a new stake in McDonald’s in the 1st quarter worth approximately $30,000. 70.29% of the stock is owned by institutional investors.

Analyst Ratings Changes

MCD has been the subject of a number of analyst reports. Citigroup increased their price target on shares of McDonald’s from $364.00 to $365.00 and gave the company a “buy” rating in a report on Wednesday, July 9th. BMO Capital Markets increased their price target on shares of McDonald’s from $350.00 to $360.00 and gave the company an “outperform” rating in a report on Thursday, September 4th. Barclays increased their price target on shares of McDonald’s from $355.00 to $360.00 and gave the company an “overweight” rating in a report on Thursday, August 7th. Bank of America lowered their price target on shares of McDonald’s from $327.00 to $322.00 and set a “neutral” rating for the company in a report on Friday, July 18th. Finally, Evercore ISI increased their price target on shares of McDonald’s from $350.00 to $360.00 and gave the company an “outperform” rating in a report on Friday, August 8th. Eleven analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $325.14.

McDonald’s Price Performance

Shares of NYSE MCD opened at $305.49 on Friday. The company has a market cap of $218.00 billion, a P/E ratio of 26.18, a PEG ratio of 3.14 and a beta of 0.50. McDonald’s Corporation has a 1 year low of $276.53 and a 1 year high of $326.32. The firm has a 50-day simple moving average of $305.33 and a two-hundred day simple moving average of $306.59.

McDonald’s (NYSE:MCD) last issued its earnings results on Wednesday, August 6th. The fast-food giant reported $3.19 EPS for the quarter, topping analysts’ consensus estimates of $3.15 by $0.04. The business had revenue of $6.84 billion for the quarter, compared to analyst estimates of $6.68 billion. McDonald’s had a net margin of 32.21% and a negative return on equity of 225.52%. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same period last year, the company posted $2.97 earnings per share. As a group, equities research analysts expect that McDonald’s Corporation will post 12.25 EPS for the current year.

McDonald’s Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd will be given a dividend of $1.77 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.3%. McDonald’s’s dividend payout ratio (DPR) is 60.67%.

Insider Activity at McDonald’s

In other news, insider Joseph M. Erlinger sold 939 shares of the firm’s stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $299.49, for a total transaction of $281,221.11. Following the transaction, the insider directly owned 9,283 shares of the company’s stock, valued at approximately $2,780,165.67. This trade represents a 9.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Jonathan Banner sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $310.00, for a total transaction of $310,000.00. Following the transaction, the executive vice president directly owned 99 shares in the company, valued at approximately $30,690. This trade represents a 90.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 8,341 shares of company stock valued at $2,544,327. 0.25% of the stock is owned by insiders.

About McDonald’s

McDonald’s Corp. engages in the operation and franchising of restaurants. It operates through the following segments: U.S., International Operated Markets, and International Developmental Licensed Markets and Corporate. The U.S. segment focuses its operations on the United States. The International Operated Markets segment consists of operations and the franchising of restaurants in Australia, Canada, France, Germany, Italy, the Netherlands, Spain, and the U.K.