McDonald’s Co. (NYSE:MCD) Shares Sold by Oak Asset Management LLC

Oak Asset Management LLC cut its holdings in shares of McDonald’s Co. (NYSE:MCDGet Rating) by 95.3% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 883 shares of the fast-food giant’s stock after selling 17,900 shares during the period. Oak Asset Management LLC’s holdings in McDonald’s were worth $218,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Artemis Wealth Advisors LLC acquired a new position in shares of McDonald’s during the 1st quarter worth approximately $28,000. Conrad Siegel Investment Advisors Inc. acquired a new position in shares of McDonald’s during the 1st quarter worth approximately $37,000. Rational Advisors LLC boosted its holdings in shares of McDonald’s by 60.6% during the 1st quarter. Rational Advisors LLC now owns 159 shares of the fast-food giant’s stock worth $39,000 after purchasing an additional 60 shares during the last quarter. Cascade Investment Advisors Inc. raised its position in shares of McDonald’s by 70.6% during the 1st quarter. Cascade Investment Advisors Inc. now owns 203 shares of the fast-food giant’s stock valued at $50,000 after buying an additional 84 shares during the period. Finally, Ten Capital Wealth Advisors LLC raised its position in shares of McDonald’s by 23.0% during the 1st quarter. Ten Capital Wealth Advisors LLC now owns 246 shares of the fast-food giant’s stock valued at $61,000 after buying an additional 46 shares during the period. 67.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, SVP Catherine A. Hoovel sold 2,371 shares of the stock in a transaction dated Wednesday, July 27th. The shares were sold at an average price of $255.62, for a total transaction of $606,075.02. Following the completion of the transaction, the senior vice president now directly owns 1,184 shares of the company’s stock, valued at $302,654.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Chairman Enrique Hernandez, Jr. sold 4,500 shares of the stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $264.02, for a total value of $1,188,090.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Catherine A. Hoovel sold 2,371 shares of the firm’s stock in a transaction that occurred on Wednesday, July 27th. The stock was sold at an average price of $255.62, for a total transaction of $606,075.02. Following the sale, the senior vice president now owns 1,184 shares in the company, valued at approximately $302,654.08. The disclosure for this sale can be found here. Over the last three months, insiders sold 20,191 shares of company stock valued at $5,250,365. Insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on MCD. Cowen lifted their price target on shares of McDonald’s from $275.00 to $290.00 and gave the company an “outperform” rating in a research report on Wednesday, July 27th. Morgan Stanley reduced their price target on shares of McDonald’s from $287.00 to $285.00 and set an “overweight” rating on the stock in a research report on Monday, July 18th. Atlantic Securities raised shares of McDonald’s from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $245.00 to $278.00 in a research report on Wednesday, June 29th. Stephens began coverage on shares of McDonald’s in a research report on Thursday. They set an “overweight” rating and a $280.00 price target on the stock. Finally, Robert W. Baird set a $285.00 price target on shares of McDonald’s in a research report on Tuesday, July 19th. Seven research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $285.39.

McDonald’s Stock Performance

NYSE MCD traded up $0.23 during trading hours on Friday, hitting $248.17. The company had a trading volume of 43,373 shares, compared to its average volume of 2,372,805. McDonald’s Co. has a 1-year low of $217.68 and a 1-year high of $271.15. The company has a market cap of $182.58 billion, a PE ratio of 30.59, a price-to-earnings-growth ratio of 3.05 and a beta of 0.57. The business has a 50 day moving average of $258.22 and a 200-day moving average of $249.50.

McDonald’s (NYSE:MCDGet Rating) last released its quarterly earnings data on Tuesday, July 26th. The fast-food giant reported $2.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.47 by $0.08. McDonald’s had a net margin of 25.77% and a negative return on equity of 129.90%. The company had revenue of $5.72 billion during the quarter, compared to the consensus estimate of $5.82 billion. During the same quarter in the prior year, the firm posted $2.37 earnings per share. McDonald’s’s revenue for the quarter was down 2.9% on a year-over-year basis. Sell-side analysts expect that McDonald’s Co. will post 9.83 earnings per share for the current fiscal year.

McDonald’s Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 16th. Stockholders of record on Thursday, September 1st were issued a $1.38 dividend. The ex-dividend date was Wednesday, August 31st. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.22%. McDonald’s’s payout ratio is 67.98%.

McDonald’s Profile

(Get Rating)

McDonald's Corporation operates and franchises McDonald's restaurants in the United States and internationally. Its restaurants offer hamburgers and cheeseburgers, chicken sandwiches and nuggets, wraps, fries, salads, oatmeal, shakes, desserts, sundaes, soft serve cones, bakery items, soft drinks, coffee, and beverages and other beverages, as well as breakfast menu, including biscuit and bagel sandwiches, breakfast burritos, hotcakes, and other sandwiches.

Further Reading

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Institutional Ownership by Quarter for McDonald's (NYSE:MCD)

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