Garrison Point Advisors LLC Trims Stock Position in McDonald’s Co. (NYSE:MCD)

Garrison Point Advisors LLC trimmed its holdings in shares of McDonald’s Co. (NYSE:MCD) by 3.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,980 shares of the fast-food giant’s stock after selling 100 shares during the period. Garrison Point Advisors LLC’s holdings in McDonald’s were worth $759,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of McDonald’s by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 69,049,310 shares of the fast-food giant’s stock worth $20,473,811,000 after buying an additional 599,745 shares in the last quarter. Norges Bank purchased a new stake in McDonald’s in the 4th quarter worth approximately $2,684,899,000. Price T Rowe Associates Inc. MD raised its holdings in McDonald’s by 15.5% in the 4th 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 acquiring an additional 987,099 shares during the last quarter. Gallagher Fiduciary Advisors LLC lifted its stake in shares of McDonald’s by 141,160.9% during the 4th quarter. Gallagher Fiduciary Advisors LLC now owns 5,613,710 shares of the fast-food giant’s stock worth $1,664,521,000 after purchasing an additional 5,609,736 shares during the period. Finally, Capital Research Global Investors lifted its stake 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 currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other McDonald’s news, EVP Marion K. Gross sold 1,498 shares of McDonald’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 sale, the executive vice president now owns 1,560 shares of the company’s stock, valued at approximately $387,285.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Joseph M. Erlinger sold 1,099 shares of the stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $260.00, for a total transaction of $285,740.00. Following the completion of the transaction, the insider now owns 13,681 shares in the company, valued at $3,557,060. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Marion K. Gross sold 1,498 shares of the firm’s stock in a transaction on Wednesday, July 3rd. The shares were 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 directly owns 1,560 shares of the company’s stock, valued at approximately $387,285.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,291 shares of company stock valued at $1,689,073. Company insiders own 0.23% of the company’s stock.

McDonald’s Stock Down 0.0 %

MCD opened at $291.27 on Wednesday. The stock has a market cap of $209.91 billion, a P/E ratio of 24.73, a P/E/G ratio of 3.87 and a beta of 0.72. The company has a fifty day simple moving average of $270.34 and a 200 day simple moving average of $270.52. McDonald’s Co. has a 12 month low of $243.53 and a 12 month high of $302.39.

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

McDonald’s Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be given a $1.67 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $6.68 annualized dividend and a yield of 2.29%. McDonald’s’s dividend payout ratio is currently 56.71%.

Analysts Set New Price Targets

Several research firms recently weighed in on MCD. Jefferies Financial Group increased their target price on McDonald’s from $310.00 to $330.00 and gave the stock a “buy” rating in a research report on Monday. Stifel Nicolaus cut their price objective on shares of McDonald’s from $285.00 to $265.00 and set a “hold” rating on the stock in a report on Monday, July 22nd. Bank of America lowered their target price on shares of McDonald’s from $288.00 to $278.00 and set a “neutral” rating for the company in a report on Tuesday, July 30th. Wedbush reaffirmed an “outperform” rating and set a $295.00 price target on shares of McDonald’s in a research note on Monday, July 29th. Finally, KeyCorp lowered their price objective on shares of McDonald’s from $310.00 to $305.00 and set an “overweight” rating for the company in a research note on Tuesday, July 30th. Eleven research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to data from MarketBeat, McDonald’s has an average rating of “Moderate Buy” and an average target price of $304.41.

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.