Brown Shipley& Co Ltd Cuts Holdings in McDonald’s Co. (NYSE:MCD)

Brown Shipley& Co Ltd reduced its position in McDonald’s Co. (NYSE:MCD) by 92.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 339 shares of the fast-food giant’s stock after selling 4,098 shares during the period. Brown Shipley& Co Ltd’s holdings in McDonald’s were worth $86,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Dixon Mitchell Investment Counsel Inc. purchased a new position in shares of McDonald’s in the first quarter valued at $28,000. Kings Path Partners LLC purchased a new position in shares of McDonald’s in the 2nd quarter worth $38,000. Accent Capital Management LLC bought a new stake in shares of McDonald’s in the 4th quarter worth about $44,000. Transcendent Capital Group LLC purchased a new stake in shares of McDonald’s during the 4th quarter valued at about $45,000. Finally, Keener Financial Planning LLC lifted its holdings in shares of McDonald’s by 32.3% in the 1st quarter. Keener Financial Planning LLC now owns 176 shares of the fast-food giant’s stock valued at $50,000 after acquiring an additional 43 shares during the last quarter. 70.29% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on MCD shares. KeyCorp reduced their price objective 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. Bank of America cut their target price on McDonald’s from $288.00 to $278.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 30th. Citigroup raised their price target on McDonald’s from $275.00 to $301.00 and gave the stock a “neutral” rating in a research report on Friday, September 13th. JPMorgan Chase & Co. increased their price objective on shares of McDonald’s from $270.00 to $290.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Finally, Truist Financial reduced their target price on McDonald’s from $300.00 to $295.00 and set a “buy” rating on the stock in a research note on Tuesday, July 30th. Eleven analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $308.22.

McDonald’s Price Performance

Shares of NYSE:MCD opened at $303.69 on Monday. The business’s 50-day moving average is $281.71 and its 200 day moving average is $270.93. McDonald’s Co. has a 1 year low of $243.53 and a 1 year high of $306.96. The firm has a market capitalization of $218.86 billion, a P/E ratio of 25.78, a P/E/G ratio of 3.99 and a beta of 0.72.

McDonald’s (NYSE:MCD) last announced its quarterly earnings data 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 company had revenue of $6.49 billion during the quarter, compared to analysts’ expectations of $6.62 billion. McDonald’s had a net margin of 32.25% and a negative return on equity of 178.68%. The business’s revenue for the quarter was down .1% compared to the same quarter last year. During the same period in the previous year, the business earned $3.17 earnings per share. On average, analysts expect that McDonald’s Co. will post 11.69 EPS for the current year.

McDonald’s Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a $1.77 dividend. This represents a $7.08 annualized dividend and a dividend yield of 2.33%. This is an increase from McDonald’s’s previous quarterly dividend of $1.67. The ex-dividend date is Monday, December 2nd. McDonald’s’s dividend payout ratio is presently 56.71%.

Insider Buying and Selling

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 transaction, the executive vice president now directly owns 1,560 shares of the company’s stock, valued at $387,285.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Marion K. Gross sold 1,498 shares of the stock in a transaction on Wednesday, July 3rd. The shares were 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 in the company, valued at $387,285.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Christopher J. Kempczinski sold 9,291 shares of the firm’s stock in a transaction on Friday, September 27th. The stock was sold at an average price of $305.00, for a total transaction of $2,833,755.00. Following the transaction, the chief executive officer now directly owns 43,256 shares of the company’s stock, valued at approximately $13,193,080. The disclosure for this sale can be found here. Insiders sold 33,249 shares of company stock worth $9,865,866 in the last 90 days. Insiders own 0.23% of the company’s stock.

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.