Cary Street Partners Investment Advisory LLC Decreases Position in McDonald’s Co. (NYSE:MCD)

Cary Street Partners Investment Advisory LLC trimmed its holdings in shares of McDonald’s Co. (NYSE:MCD) by 93.7% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 842 shares of the fast-food giant’s stock after selling 12,442 shares during the period. Cary Street Partners Investment Advisory LLC’s holdings in McDonald’s were worth $250,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Vicus Capital purchased a new position in shares of McDonald’s in the third quarter valued at about $306,000. Talbot Financial LLC increased its stake in shares of McDonald’s by 1.6% during the third quarter. Talbot Financial LLC now owns 23,324 shares of the fast-food giant’s stock valued at $6,144,000 after buying an additional 377 shares during the period. Forza Wealth Management LLC raised its holdings in shares of McDonald’s by 6.0% during the third quarter. Forza Wealth Management LLC now owns 3,522 shares of the fast-food giant’s stock valued at $928,000 after acquiring an additional 200 shares in the last quarter. Independent Advisor Alliance boosted its holdings in McDonald’s by 1.9% in the third quarter. Independent Advisor Alliance now owns 81,496 shares of the fast-food giant’s stock valued at $21,469,000 after acquiring an additional 1,541 shares in the last quarter. Finally, Center for Financial Planning Inc. increased its position in McDonald’s by 1.5% during the 3rd quarter. Center for Financial Planning Inc. now owns 3,197 shares of the fast-food giant’s stock valued at $842,000 after purchasing an additional 47 shares during the period. 70.29% of the stock is owned by institutional investors.

Insider Buying and Selling

In other McDonald’s news, insider Joseph M. Erlinger sold 1,098 shares of the company’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 completion of the sale, the insider now owns 16,977 shares in the company, valued at $4,696,517.28. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, insider Joseph M. Erlinger sold 1,099 shares of the business’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $284.38, for a total value of $312,533.62. Following the transaction, the insider now directly owns 18,075 shares in the company, valued at $5,140,168.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Joseph M. Erlinger sold 1,098 shares of McDonald’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $276.64, for a total value of $303,750.72. Following the completion of the sale, the insider now directly owns 16,977 shares in the company, valued at approximately $4,696,517.28. The disclosure for this sale can be found here. 0.23% of the stock is owned by insiders.

McDonald’s Trading Up 0.5 %

Shares of MCD stock opened at $274.35 on Thursday. The stock has a market capitalization of $197.81 billion, a P/E ratio of 23.29, a P/E/G ratio of 2.98 and a beta of 0.71. The firm’s 50 day moving average is $280.53 and its 200 day moving average is $282.27. McDonald’s Co. has a 12-month low of $245.73 and a 12-month high of $302.39.

McDonald’s (NYSE:MCD) last issued its quarterly earnings data on Tuesday, April 30th. The fast-food giant reported $2.70 EPS for the quarter, missing the consensus estimate of $2.71 by ($0.01). McDonald’s had a negative return on equity of 180.54% and a net margin of 33.36%. The firm had revenue of $6.17 billion during the quarter, compared to the consensus estimate of $6.16 billion. During the same period in the previous year, the firm earned $2.63 EPS. The business’s revenue was up 4.6% on a year-over-year basis. As a group, equities analysts predict that McDonald’s Co. will post 12.34 earnings per share for the current year.

McDonald’s Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were paid a $1.67 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $6.68 annualized dividend and a dividend yield of 2.43%. McDonald’s’s dividend payout ratio (DPR) is 56.71%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on MCD shares. Argus reaffirmed a “hold” rating on shares of McDonald’s in a research note on Monday, March 25th. KeyCorp reduced their target price on McDonald’s from $315.00 to $310.00 and set an “overweight” rating on the stock in a report on Wednesday. Robert W. Baird lowered their target price on McDonald’s from $305.00 to $300.00 and set an “outperform” rating for the company in a research note on Wednesday. Citigroup reduced their price target on McDonald’s from $312.00 to $297.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 16th. Finally, Evercore ISI reissued an “outperform” rating and set a $330.00 price objective on shares of McDonald’s in a research report on Wednesday, March 27th. Nine investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to MarketBeat.com, McDonald’s has an average rating of “Moderate Buy” and an average target price of $317.37.

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.