NorthCrest Asset Manangement LLC Lowers Position in McDonald’s Co. (NYSE:MCD)

NorthCrest Asset Manangement LLC reduced its stake in McDonald’s Co. (NYSE:MCD) by 8.9% during the second quarter, according to its most recent filing with the SEC. The fund owned 2,140 shares of the fast-food giant’s stock after selling 209 shares during the quarter. NorthCrest Asset Manangement LLC’s holdings in McDonald’s were worth $545,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Concentric Wealth Management LLC boosted its holdings in shares of McDonald’s by 1.4% during the fourth quarter. Concentric Wealth Management LLC now owns 2,551 shares of the fast-food giant’s stock valued at $756,000 after acquiring an additional 35 shares during the period. Mechanics Financial Corp grew its stake in McDonald’s by 0.7% during the 4th quarter. Mechanics Financial Corp now owns 5,331 shares of the fast-food giant’s stock valued at $1,581,000 after acquiring an additional 36 shares in the last quarter. FinTrust Capital Advisors LLC grew its stake in McDonald’s by 2.9% during the 4th quarter. FinTrust Capital Advisors LLC now owns 1,268 shares of the fast-food giant’s stock valued at $376,000 after acquiring an additional 36 shares in the last quarter. 9258 Wealth Management LLC grew its stake in shares of McDonald’s by 1.3% in the 1st quarter. 9258 Wealth Management LLC now owns 2,833 shares of the fast-food giant’s stock valued at $799,000 after buying an additional 37 shares in the last quarter. Finally, ICW Investment Advisors LLC lifted its holdings in McDonald’s by 0.4% in the 4th quarter. ICW Investment Advisors LLC now owns 9,548 shares of the fast-food giant’s stock worth $2,831,000 after purchasing an additional 38 shares during the last quarter. 70.29% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other McDonald’s news, insider Joseph M. Erlinger sold 1,099 shares of the company’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $265.13, for a total value of $291,377.87. Following the sale, the insider now owns 15,878 shares of the company’s stock, valued at $4,209,734.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Joseph M. Erlinger sold 1,098 shares of the company’s stock in a transaction on 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 transaction, the insider now directly owns 14,780 shares in the company, valued at $3,842,800. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Joseph M. Erlinger sold 1,099 shares of the stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $265.13, for a total transaction of $291,377.87. Following the sale, the insider now directly owns 15,878 shares in the company, valued at $4,209,734.14. The disclosure for this sale can be found here. Insiders have sold a total of 4,794 shares of company stock valued at $1,234,491 over the last quarter. Corporate insiders own 0.23% of the company’s stock.

McDonald’s Price Performance

McDonald’s stock opened at $271.15 on Thursday. The stock has a market cap of $195.41 billion, a price-to-earnings ratio of 23.02, a price-to-earnings-growth ratio of 3.58 and a beta of 0.71. The firm has a 50 day simple moving average of $257.98 and a 200-day simple moving average of $271.26. McDonald’s Co. has a 1-year low of $243.53 and a 1-year high of $302.39.

McDonald’s (NYSE:MCD) last issued 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). McDonald’s had a net margin of 32.25% and a negative return on equity of 178.92%. The business had revenue of $6.49 billion during the quarter, compared to analysts’ expectations of $6.62 billion. During the same period in the prior year, the business earned $3.17 EPS. The business’s quarterly revenue was down .1% on a year-over-year basis. Equities analysts expect that McDonald’s Co. will post 11.71 earnings per share for the current fiscal year.

McDonald’s Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be paid a $1.67 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $6.68 dividend on an annualized basis and a yield of 2.46%. McDonald’s’s dividend payout ratio is presently 56.71%.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. KeyCorp reduced their target price on McDonald’s from $310.00 to $305.00 and set an “overweight” rating for the company in a research report on Tuesday, July 30th. Loop Capital reduced their target price on McDonald’s from $357.00 to $342.00 and set a “buy” rating on the stock in a report on Tuesday, July 30th. Robert W. Baird cut their price objective on McDonald’s from $305.00 to $300.00 and set an “outperform” rating on the stock in a report on Wednesday, May 1st. Bank of America lowered their price target 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. Finally, Barclays decreased their target price on McDonald’s from $320.00 to $300.00 and set an “overweight” rating on the stock in a report on Tuesday, July 30th. Eleven research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $303.00.

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.