McDonald’s Corporation $MCD Shares Sold by Canopy Partners LLC

Canopy Partners LLC decreased its holdings in shares of McDonald’s Corporation (NYSE:MCD) by 4.0% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 3,483 shares of the fast-food giant’s stock after selling 146 shares during the period. Canopy Partners LLC’s holdings in McDonald’s were worth $1,018,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Nova Wealth Management Inc. acquired a new position in shares of McDonald’s during the 1st quarter valued at $26,000. HFM Investment Advisors LLC acquired a new position in shares of McDonald’s during the 1st quarter valued at $26,000. Abound Financial LLC acquired a new position in shares of McDonald’s during the 1st quarter valued at $30,000. Redmont Wealth Advisors LLC acquired a new position in shares of McDonald’s during the 1st quarter valued at $31,000. Finally, Financial Gravity Asset Management Inc. purchased a new stake in McDonald’s during the 1st quarter worth $31,000. Institutional investors and hedge funds own 70.29% of the company’s stock.

McDonald’s Stock Performance

MCD opened at $296.35 on Wednesday. The company has a 50-day moving average of $306.74 and a 200-day moving average of $306.02. The company has a market capitalization of $211.47 billion, a P/E ratio of 25.39, a PEG ratio of 3.01 and a beta of 0.50. McDonald’s Corporation has a 1-year low of $276.53 and a 1-year high of $326.32.

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

McDonald’s Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd were given a dividend of $1.77 per share. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend was Tuesday, September 2nd. McDonald’s’s dividend payout ratio is currently 60.67%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on MCD. Citigroup lifted their price target on shares of McDonald’s from $373.00 to $381.00 and gave the stock a “buy” rating in a research note on Wednesday, September 17th. KeyCorp reaffirmed an “overweight” rating and set a $335.00 price target (up previously from $325.00) on shares of McDonald’s in a research note on Thursday, August 7th. Barclays lifted their price target on shares of McDonald’s from $355.00 to $360.00 and gave the stock an “overweight” rating in a research note on Thursday, August 7th. Morgan Stanley lifted their price target 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. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of McDonald’s in a research note on Saturday, September 27th. Twelve investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $325.86.

Insider Buying and Selling at McDonald’s

In related news, insider Joseph M. Erlinger sold 939 shares of the business’s stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $299.49, for a total transaction of $281,221.11. Following the completion of the sale, the insider owned 9,283 shares of the company’s stock, valued at $2,780,165.67. This represents a 9.19% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Jonathan Banner sold 1,000 shares of the business’s 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 of the company’s stock, valued at approximately $30,690. This represents a 90.99% decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,402 shares of company stock worth $2,273,407 in the last quarter. 0.25% of the stock is currently owned by corporate 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.