Oak Harvest Investment Services Decreases Stock Position in McDonald’s Corporation $MCD

Oak Harvest Investment Services trimmed its position in shares of McDonald’s Corporation (NYSE:MCD) by 33.9% in the 2nd quarter, Holdings Channel reports. The firm owned 17,233 shares of the fast-food giant’s stock after selling 8,839 shares during the period. Oak Harvest Investment Services’ holdings in McDonald’s were worth $5,035,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in MCD. WealthPlan Investment Management LLC lifted its stake in shares of McDonald’s by 0.9% in the first quarter. WealthPlan Investment Management LLC now owns 3,630 shares of the fast-food giant’s stock worth $1,134,000 after buying an additional 32 shares in the last quarter. Security Financial Services INC. boosted its holdings in McDonald’s by 0.7% in the 1st quarter. Security Financial Services INC. now owns 5,043 shares of the fast-food giant’s stock valued at $1,575,000 after purchasing an additional 33 shares during the last quarter. Ascent Wealth Partners LLC raised its position in shares of McDonald’s by 0.3% during 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 buying an additional 34 shares during the period. Alexander Labrunerie & CO. Inc. grew its position in McDonald’s by 3.4% in the first quarter. Alexander Labrunerie & CO. Inc. now owns 1,070 shares of the fast-food giant’s stock worth $334,000 after acquiring an additional 35 shares during the period. Finally, AGP Franklin LLC grew its holdings in shares of McDonald’s by 0.4% during the 1st quarter. AGP Franklin LLC now owns 10,001 shares of the fast-food giant’s stock worth $3,125,000 after purchasing an additional 35 shares during the period. 70.29% of the stock is owned by institutional investors and hedge funds.

McDonald’s Trading Up 0.1%

Shares of MCD stock opened at $307.11 on Friday. The firm has a fifty day moving average price of $303.52 and a 200 day moving average price of $304.78. The company has a market cap of $218.71 billion, a P/E ratio of 26.32, a PEG ratio of 3.23 and a beta of 0.50. McDonald’s Corporation has a 12 month low of $276.53 and a 12 month high of $326.32.

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

McDonald’s Increases Dividend

The business 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 $1.86 dividend. This represents a $7.44 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Monday, December 1st. This is a positive change from McDonald’s’s previous quarterly dividend of $1.77. McDonald’s’s dividend payout ratio (DPR) is currently 63.48%.

Insider Buying and Selling

In other news, EVP Manuel Jm Steijaert sold 13,134 shares of the business’s stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $300.42, for a total value of $3,945,716.28. Following the completion of the sale, the executive vice president directly owned 4,606 shares of the company’s stock, valued at approximately $1,383,734.52. The trade was a 74.04% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jonathan Banner sold 1,000 shares of the company’s stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $310.00, for a total value of $310,000.00. Following the completion of the sale, the executive vice president directly owned 99 shares of the company’s stock, valued at approximately $30,690. This trade represents a 90.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 15,134 shares of company stock worth $4,570,716 in the last ninety days. 0.25% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

MCD has been the topic of several research reports. BTIG Research reissued a “neutral” rating on shares of McDonald’s in a research note on Friday, October 24th. Evercore ISI boosted their price target on shares of McDonald’s from $350.00 to $360.00 and gave the stock an “outperform” rating in a research note on Friday, August 8th. Barclays lowered their price objective on shares of McDonald’s from $362.00 to $358.00 and set an “overweight” rating for the company in a research note on Thursday, November 6th. Citigroup dropped their price objective on shares of McDonald’s from $381.00 to $375.00 and set a “buy” rating for the company in a report on Tuesday, October 21st. Finally, Stifel Nicolaus upped their target price on shares of McDonald’s from $300.00 to $315.00 and gave the stock a “hold” rating in a research note on Friday, August 22nd. Eleven research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $323.91.

McDonald’s Company Profile

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.