McDonald’s Corporation $MCD Shares Sold by Pekin Hardy Strauss Inc.

Pekin Hardy Strauss Inc. trimmed its holdings in McDonald’s Corporation (NYSE:MCD) by 2.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,361 shares of the fast-food giant’s stock after selling 190 shares during the quarter. Pekin Hardy Strauss Inc.’s holdings in McDonald’s were worth $2,151,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. WealthPlan Investment Management LLC boosted its stake in McDonald’s by 0.9% during the 1st quarter. WealthPlan Investment Management LLC now owns 3,630 shares of the fast-food giant’s stock valued at $1,134,000 after purchasing an additional 32 shares in the last quarter. Security Financial Services INC. grew its position in McDonald’s by 0.7% during the 1st quarter. Security Financial Services INC. now owns 5,043 shares of the fast-food giant’s stock worth $1,575,000 after purchasing an additional 33 shares in the last quarter. Ascent Wealth Partners LLC increased its holdings in shares of McDonald’s by 0.3% in the 1st quarter. Ascent Wealth Partners LLC now owns 11,588 shares of the fast-food giant’s stock valued at $3,620,000 after purchasing an additional 34 shares during the period. Platform Technology Partners increased its position in McDonald’s by 0.4% in the 1st quarter. Platform Technology Partners now owns 8,617 shares of the fast-food giant’s stock worth $2,692,000 after purchasing an additional 35 shares during the last quarter. Finally, Alexander Labrunerie & CO. Inc. raised its position in McDonald’s by 3.4% during the first quarter. Alexander Labrunerie & CO. Inc. now owns 1,070 shares of the fast-food giant’s stock valued at $334,000 after acquiring an additional 35 shares in the last quarter. 70.29% of the stock is owned by institutional investors and hedge funds.

McDonald’s Stock Performance

NYSE MCD opened at $298.36 on Friday. The stock has a market cap of $212.91 billion, a price-to-earnings ratio of 25.57, a PEG ratio of 3.23 and a beta of 0.50. McDonald’s Corporation has a 52-week low of $276.53 and a 52-week high of $326.32. The business has a 50 day simple moving average of $304.67 and a 200 day simple moving average of $305.20.

McDonald’s (NYSE:MCD) last issued its quarterly earnings results on Wednesday, November 5th. The fast-food giant reported $3.22 EPS for the quarter, missing the consensus estimate of $3.33 by ($0.11). The business had revenue of $7.08 billion for the quarter, compared to the consensus estimate of $7.10 billion. McDonald’s had a negative return on equity of 225.52% and a net margin of 32.21%.The company’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same period last year, the firm earned $3.23 earnings per share. On average, analysts predict that McDonald’s Corporation will post 12.25 EPS for the current year.

McDonald’s Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be issued a dividend of $1.86 per share. This is a boost from McDonald’s’s previous quarterly dividend of $1.77. This represents a $7.44 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend is Monday, December 1st. McDonald’s’s payout ratio is 63.48%.

Insiders Place Their Bets

In other McDonald’s news, EVP Jonathan Banner sold 1,000 shares of the stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $310.00, for a total transaction of $310,000.00. Following the sale, the executive vice president directly owned 99 shares in the company, valued at $30,690. This represents a 90.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CMO Edith Morgan Flatley sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $315.00, for a total value of $315,000.00. Following the completion of the sale, the chief marketing officer directly owned 6,858 shares in the company, valued at $2,160,270. This trade represents a 12.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on MCD. Robert W. Baird boosted their price objective on shares of McDonald’s from $322.00 to $325.00 and gave the stock a “neutral” rating in a research note on Thursday. Morgan Stanley set a $335.00 price objective on shares of McDonald’s in a research note on Friday, October 17th. Evercore ISI boosted their price target on McDonald’s from $350.00 to $360.00 and gave the company an “outperform” rating in a research note on Friday, August 8th. Citigroup decreased their price objective on shares of McDonald’s from $381.00 to $375.00 and set a “buy” rating on the stock in a research note on Tuesday, October 21st. Finally, The Goldman Sachs Group upgraded shares of McDonald’s from a “neutral” rating to a “buy” rating and set a $345.00 price target on the stock in a research report on Thursday, July 10th. Eleven equities research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $323.91.

About McDonald’s

McDonald’s Corp. engages in the operation and franchising of restaurants. It operates through the following segments: U.S., International Operated Markets, and International Developmental Licensed Markets and Corporate. The U.S. segment focuses its operations on the United States. The International Operated Markets segment consists of operations and the franchising of restaurants in Australia, Canada, France, Germany, Italy, the Netherlands, Spain, and the U.K.