McDonald’s Co. (NYSE:MCD) Shares Sold by Chapin Davis Inc.

Chapin Davis Inc. reduced its position in McDonald’s Co. (NYSE:MCD) by 6.1% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,844 shares of the fast-food giant’s stock after selling 120 shares during the quarter. Chapin Davis Inc.’s holdings in McDonald’s were worth $470,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of McDonald’s by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 69,049,310 shares of the fast-food giant’s stock valued at $20,473,811,000 after buying an additional 599,745 shares during the period. Norges Bank acquired a new stake in McDonald’s during the fourth quarter worth $2,684,899,000. Price T Rowe Associates Inc. MD raised its position in McDonald’s by 15.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,347,048 shares of the fast-food giant’s stock valued at $2,178,474,000 after purchasing an additional 987,099 shares during the period. Gallagher Fiduciary Advisors LLC lifted its stake in shares of McDonald’s by 141,160.9% in the 4th quarter. Gallagher Fiduciary Advisors LLC now owns 5,613,710 shares of the fast-food giant’s stock valued at $1,664,521,000 after purchasing an additional 5,609,736 shares during the last quarter. Finally, Capital Research Global Investors grew its holdings in shares of McDonald’s by 66.9% during the 1st quarter. Capital Research Global Investors now owns 5,471,007 shares of the fast-food giant’s stock worth $1,542,550,000 after purchasing an additional 2,193,769 shares during the period. 70.29% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have issued reports on MCD shares. BMO Capital Markets cut 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. Loop Capital reduced their price target on shares of McDonald’s from $357.00 to $342.00 and set a “buy” rating for the company in a research report on Tuesday, July 30th. Stifel Nicolaus decreased their price target on shares of McDonald’s from $285.00 to $265.00 and set a “hold” rating for the company in a research note on Monday, July 22nd. TD Cowen downgraded McDonald’s from a “buy” rating to a “hold” rating and decreased their price target for the stock from $285.00 to $280.00 in a report on Wednesday, July 31st. Finally, The Goldman Sachs Group started coverage on McDonald’s in a research report on Thursday, June 13th. They set a “neutral” rating and a $288.00 target price on the stock. Eleven investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $303.00.

McDonald’s Price Performance

NYSE:MCD traded up $3.62 during mid-day trading on Friday, reaching $278.49. The company’s stock had a trading volume of 3,286,217 shares, compared to its average volume of 3,568,595. The stock has a market cap of $200.70 billion, a P/E ratio of 23.64, a P/E/G ratio of 3.58 and a beta of 0.71. The company’s fifty day simple moving average is $258.71 and its two-hundred day simple moving average is $270.87. McDonald’s Co. has a twelve month low of $243.53 and a twelve month high of $302.39.

McDonald’s (NYSE:MCD) last released its earnings results on Monday, July 29th. The fast-food giant reported $2.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.07 by ($0.10). McDonald’s had a negative return on equity of 178.92% and a net margin of 32.25%. The company had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.62 billion. During the same period in the prior year, the business posted $3.17 earnings per share. McDonald’s’s revenue was down .1% on a year-over-year basis. Sell-side analysts expect that McDonald’s Co. will post 11.71 EPS for the current fiscal year.

McDonald’s Announces Dividend

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

Insider Activity at McDonald’s

In other news, EVP Marion K. Gross sold 1,498 shares of the business’s stock in a transaction dated 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 sale, the executive vice president now owns 1,560 shares in the company, valued at approximately $387,285.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other McDonald’s news, insider Joseph M. Erlinger sold 1,098 shares of the firm’s 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 transaction, the insider now directly owns 14,780 shares of the company’s stock, valued at $3,842,800. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Marion K. Gross sold 1,498 shares of the business’s 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 transaction, the executive vice president now owns 1,560 shares in the company, valued at approximately $387,285.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,794 shares of company stock worth $1,234,491. 0.23% of the stock is owned by insiders.

McDonald’s 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.