TD Waterhouse Canada Inc. decreased its position in McDonald’s Corporation (NYSE:MCD – Free Report) by 1.7% during the 2nd quarter, Holdings Channel.com reports. The firm owned 441,443 shares of the fast-food giant’s stock after selling 7,810 shares during the period. TD Waterhouse Canada Inc.’s holdings in McDonald’s were worth $119,007,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently made changes to their positions in the company. Your Advocates Ltd. LLP acquired a new position in McDonald’s in the 4th quarter valued at $27,000. IFC & Insurance Marketing Inc. acquired a new stake in shares of McDonald’s during the fourth quarter worth $29,000. Abound Financial LLC acquired a new stake in shares of McDonald’s during the fourth quarter worth $30,000. DecisionPoint Financial LLC boosted its position in shares of McDonald’s by 1,616.7% in the fourth quarter. DecisionPoint Financial LLC now owns 103 shares of the fast-food giant’s stock valued at $31,000 after acquiring an additional 97 shares during the period. Finally, Entrust Financial LLC bought a new stake in shares of McDonald’s in the fourth quarter valued at about $31,000. Institutional investors own 70.29% of the company’s stock.
Insider Activity at McDonald’s
In other news, EVP Desiree Ralls-Morrison sold 2,763 shares of McDonald’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $278.36, for a total value of $769,108.68. Following the transaction, the executive vice president owned 6,268 shares in the company, valued at approximately $1,744,760.48. This trade represents a 30.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Joseph M. Erlinger sold 5,252 shares of McDonald’s stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $284.32, for a total value of $1,493,248.64. Following the completion of the transaction, the insider owned 7,734 shares in the company, valued at approximately $2,198,930.88. The trade was a 40.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 8,348 shares of company stock valued at $2,355,634. Company insiders own 0.26% of the company’s stock.
McDonald’s Stock Down 1.2%
McDonald’s (NYSE:MCD – Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The fast-food giant reported $3.38 earnings per share for the quarter, topping analysts’ consensus estimates of $3.32 by $0.06. The company had revenue of $7.10 billion during the quarter, compared to the consensus estimate of $7.13 billion. McDonald’s had a net margin of 31.72% and a negative return on equity of 512.80%. The firm’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.19 EPS. Equities analysts predict that McDonald’s Corporation will post 12.88 EPS for the current year.
McDonald’s Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Shareholders of record on Tuesday, September 1st will be given a dividend of $1.86 per share. This represents a $7.44 annualized dividend and a yield of 2.7%. The ex-dividend date is Tuesday, September 1st. McDonald’s’s payout ratio is currently 60.44%.
McDonald’s News Roundup
Here are the key news stories impacting McDonald’s this week:
- Positive Sentiment: Nationwide menu initiatives, including new energy-focused beverages, seven menu additions, and the limited-time Hello Kitty and Godzilla Happy Meal promotion, could support traffic, customer engagement, and comparable-sales growth. McDonald’s serving up new kind of energy boost on menus nationwide
- Positive Sentiment: Some analysts see potential upside toward the mid-$300s if McDonald’s improves U.S. same-store sales and executes its McDonald’s NEXT strategy effectively. The company also continues to benefit from its large franchise and real-estate platform. McDonald’s stock gets fair value trim as analysts split on U.S. execution
Wall Street Analyst Weigh In
MCD has been the topic of a number of recent research reports. Royal Bank Of Canada lowered their price target on shares of McDonald’s from $305.00 to $295.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 5th. Rothschild & Co Redburn raised shares of McDonald’s from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $260.00 to $306.00 in a report on Thursday, April 23rd. BTIG Research reissued a “buy” rating and issued a $350.00 price objective on shares of McDonald’s in a report on Wednesday, August 5th. Guggenheim decreased their target price on shares of McDonald’s from $320.00 to $290.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 5th. Finally, Barclays lowered their target price on shares of McDonald’s from $380.00 to $350.00 and set an “overweight” rating on the stock in a report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $325.44.
Check Out Our Latest Stock Analysis on McDonald’s
McDonald’s Company Profile
McDonald’s Corporation (NYSE: MCD) is a global quick-service restaurant company best known for its hamburgers, French fries and breakfast offerings. The company develops, operates and franchises a system of restaurants that sell a range of food and beverage items, including signature products such as the Big Mac, Quarter Pounder, Chicken McNuggets, McCafé coffee beverages and a variety of salads, desserts and seasonal menu items. McDonald’s serves customers through company-operated restaurants and franchised locations, and it supports sales via dine-in, drive-thru, digital ordering platforms and third-party delivery partnerships.
Founded in 1940 by brothers Richard and Maurice McDonald as a single San Bernardino, California restaurant, the business was transformed into a franchising model after Ray Kroc joined in the mid-1950s and led the brand’s national and international expansion.
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