McDonald’s Co. (NYSE:MCD) Shares Sold by Old Port Advisors

Old Port Advisors decreased its position in shares of McDonald’s Co. (NYSE:MCD) by 11.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 900 shares of the fast-food giant’s stock after selling 120 shares during the period. Old Port Advisors’ holdings in McDonald’s were worth $229,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Dixon Mitchell Investment Counsel Inc. acquired a new position in shares of McDonald’s in the first quarter valued at approximately $28,000. Signature Resources Capital Management LLC purchased a new stake in shares of McDonald’s in the fourth quarter valued at approximately $31,000. Clear Investment Research LLC purchased a new stake in shares of McDonald’s in the fourth quarter valued at approximately $38,000. Atlantic Edge Private Wealth Management LLC purchased a new stake in shares of McDonald’s in the fourth quarter valued at approximately $39,000. Finally, Accent Capital Management LLC purchased a new stake in shares of McDonald’s in the fourth quarter valued at approximately $44,000. Institutional investors and hedge funds own 70.29% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. KeyCorp decreased their price target on McDonald’s from $310.00 to $305.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 30th. JPMorgan Chase & Co. decreased their price target on McDonald’s from $290.00 to $270.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 30th. Wedbush reiterated an “outperform” rating and set a $295.00 target price on shares of McDonald’s in a research report on Monday, July 29th. Truist Financial decreased their target price on McDonald’s from $300.00 to $295.00 and set a “buy” rating on the stock in a research report on Tuesday, July 30th. Finally, BMO Capital Markets decreased their target price on McDonald’s from $330.00 to $315.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 30th. Eleven equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $303.00.

Insiders Place Their Bets

In other news, insider Joseph M. Erlinger sold 1,098 shares of the stock in a transaction dated 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 sale, the insider now owns 14,780 shares in the company, valued at $3,842,800. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, EVP Marion K. Gross sold 1,498 shares of the stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $248.26, for a total value of $371,893.48. Following the completion of the sale, the executive vice president now owns 1,560 shares in the company, valued at $387,285.60. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Joseph M. Erlinger sold 1,098 shares of the stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $260.00, for a total value of $285,480.00. Following the completion of the sale, the insider now 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 sold 4,794 shares of company stock worth $1,234,491 over the last three months. 0.23% of the stock is owned by insiders.

McDonald’s Trading Up 1.3 %

NYSE:MCD traded up $3.62 on Friday, hitting $278.49. 3,286,217 shares of the stock were exchanged, compared to its average volume of 3,568,595. The stock has a market cap of $200.70 billion, a PE ratio of 23.64, a PEG ratio of 3.58 and a beta of 0.71. The stock has a fifty day moving average of $258.71 and a 200-day moving average of $271.19. McDonald’s Co. has a fifty-two week low of $243.53 and a fifty-two week high of $302.39.

McDonald’s (NYSE:MCD) last announced its quarterly 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 firm 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 178.92% and a net margin of 32.25%. The business’s revenue was down .1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.17 earnings per share. As a group, analysts predict that McDonald’s Co. will post 11.71 earnings per share for the current year.

McDonald’s Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be paid a dividend of $1.67 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $6.68 annualized dividend and a yield of 2.40%. McDonald’s’s dividend payout ratio is presently 56.71%.

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.