Cassia Capital Partners LLC Cuts Holdings in McDonald’s Corporation $MCD

Cassia Capital Partners LLC trimmed its position in McDonald’s Corporation (NYSE:MCD) by 1.3% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 3,438 shares of the fast-food giant’s stock after selling 46 shares during the period. Cassia Capital Partners LLC’s holdings in McDonald’s were worth $1,004,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Mascagni Wealth Management Inc. bought a new position in McDonald’s during the fourth quarter valued at about $25,000. HFM Investment Advisors LLC purchased a new position in McDonald’s in the first quarter valued at about $26,000. Nova Wealth Management Inc. bought a new position in shares of McDonald’s during the 1st quarter valued at approximately $26,000. Abound Financial LLC purchased a new stake in shares of McDonald’s during the 1st quarter worth approximately $30,000. Finally, Copia Wealth Management purchased a new stake in shares of McDonald’s during the 4th quarter worth approximately $31,000. 70.29% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Evercore ISI upped their price objective on McDonald’s from $350.00 to $360.00 and gave the company an “outperform” rating in a research note on Friday, August 8th. Bank of America cut their price target on McDonald’s from $327.00 to $322.00 and set a “neutral” rating for the company in a research note on Friday, July 18th. Citigroup boosted their price objective on McDonald’s from $373.00 to $381.00 and gave the company a “buy” rating in a research note on Wednesday, September 17th. The Goldman Sachs Group raised shares of McDonald’s from a “neutral” rating to a “buy” rating and set a $345.00 price objective on the stock in a report on Thursday, July 10th. Finally, Morgan Stanley lifted their target price on shares of McDonald’s from $324.00 to $326.00 and gave the stock an “equal weight” rating in a research note on Monday, July 14th. Eleven analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $325.86.

McDonald’s Stock Up 0.4%

Shares of NYSE MCD opened at $304.34 on Thursday. The company has a market cap of $217.18 billion, a P/E ratio of 26.08, a P/E/G ratio of 3.09 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 $306.27 and a two-hundred day simple moving average of $306.25.

McDonald’s (NYSE:MCD) last announced its quarterly earnings results on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.15 by $0.04. McDonald’s had a net margin of 32.21% and a negative return on equity of 225.52%. The firm had revenue of $6.84 billion for the quarter, compared to the consensus estimate of $6.68 billion. During the same period in the prior year, the firm posted $2.97 earnings per share. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. Equities research analysts anticipate that McDonald’s Corporation will post 12.25 EPS for the current year.

McDonald’s Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd were issued a $1.77 dividend. This represents a $7.08 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend was Tuesday, September 2nd. McDonald’s’s dividend payout ratio (DPR) is presently 60.67%.

Insider Activity

In related news, CMO Edith Morgan Flatley sold 1,000 shares of the stock in a transaction on Thursday, July 10th. The stock was sold at an average price of $300.00, for a total value of $300,000.00. Following the sale, the chief marketing officer owned 8,858 shares in the company, valued at approximately $2,657,400. This trade represents a 10.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Jonathan Banner sold 1,000 shares of the business’s stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $310.00, for a total value of $310,000.00. Following the transaction, the executive vice president owned 99 shares of the company’s stock, valued at approximately $30,690. The trade was a 90.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,402 shares of company stock valued at $2,273,407 in the last quarter. 0.25% of the stock is currently owned by company insiders.

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.