Asset Dedication LLC Decreases Stock Holdings in McDonald’s Co. (NYSE:MCD)

Asset Dedication LLC lessened its holdings in McDonald’s Co. (NYSE:MCD) by 2.4% during the second quarter, HoldingsChannel.com reports. The fund owned 19,313 shares of the fast-food giant’s stock after selling 483 shares during the quarter. Asset Dedication LLC’s holdings in McDonald’s were worth $4,922,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in MCD. Dixon Mitchell Investment Counsel Inc. purchased a new position in McDonald’s in the first quarter valued at about $28,000. Clear Investment Research LLC purchased a new stake in shares of McDonald’s during the 4th quarter valued at about $38,000. Atlantic Edge Private Wealth Management LLC acquired a new position in McDonald’s during the 4th quarter worth approximately $39,000. Kings Path Partners LLC purchased a new position in McDonald’s in the 2nd quarter worth approximately $38,000. Finally, Accent Capital Management LLC purchased a new position in McDonald’s in the 4th quarter worth approximately $44,000. Institutional investors and hedge funds own 70.29% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on MCD shares. JPMorgan Chase & Co. reduced their target price on shares of McDonald’s from $290.00 to $270.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 30th. Guggenheim boosted their price objective on shares of McDonald’s from $280.00 to $290.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Jefferies Financial Group lowered their target price on McDonald’s from $320.00 to $310.00 and set a “buy” rating for the company in a research note on Monday, July 29th. Deutsche Bank Aktiengesellschaft cut their price target on McDonald’s from $295.00 to $290.00 and set a “buy” rating on the stock in a research note on Tuesday, July 30th. Finally, Evercore ISI raised their price objective on McDonald’s from $300.00 to $320.00 and gave the company an “outperform” rating in a research note on Monday, August 19th. Eleven equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $303.67.

McDonald’s Trading Up 0.5 %

NYSE:MCD opened at $289.51 on Friday. The stock has a 50 day moving average of $268.64 and a 200-day moving average of $270.76. The firm has a market capitalization of $208.64 billion, a PE ratio of 24.58, a price-to-earnings-growth ratio of 3.86 and a beta of 0.72. McDonald’s Co. has a 52 week low of $243.53 and a 52 week high of $302.39.

McDonald’s (NYSE:MCD) last issued its quarterly earnings data on Monday, July 29th. The fast-food giant reported $2.97 EPS for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.10). The company had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.62 billion. McDonald’s had a negative return on equity of 178.68% and a net margin of 32.25%. McDonald’s’s quarterly revenue was down .1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.17 earnings per share. As a group, analysts predict that McDonald’s Co. will post 11.67 EPS for the current fiscal year.

McDonald’s Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be issued a $1.67 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.31%. McDonald’s’s dividend payout ratio (DPR) is presently 56.71%.

Insider Activity at McDonald’s

In other McDonald’s news, insider Joseph M. Erlinger sold 1,098 shares of the firm’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $260.00, for a total value of $285,480.00. Following the sale, the insider now owns 14,780 shares in the company, valued at $3,842,800. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other McDonald’s news, EVP Marion K. Gross sold 1,498 shares of the business’s stock in a transaction on 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 transaction, the executive vice president now owns 1,560 shares in the company, valued at approximately $387,285.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Joseph M. Erlinger sold 1,098 shares of the stock in a transaction on Friday, June 21st. The stock was sold at an average price of $260.00, for a total value of $285,480.00. Following the completion of the transaction, the insider now directly owns 14,780 shares of the company’s stock, valued at approximately $3,842,800. The disclosure for this sale can be found here. Insiders have sold a total of 6,291 shares of company stock worth $1,689,073 in the last ninety days. 0.23% of the stock is owned by insiders.

McDonald’s Company 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.