New York Life Investment Management LLC Lowers Stock Holdings in McDonald’s Co. (NYSE:MCD)

New York Life Investment Management LLC reduced its position in McDonald’s Co. (NYSE:MCD) by 9.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 99,381 shares of the fast-food giant’s stock after selling 10,505 shares during the quarter. New York Life Investment Management LLC’s holdings in McDonald’s were worth $25,326,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Dixon Mitchell Investment Counsel Inc. purchased a new position in shares of McDonald’s during the 1st quarter valued at $28,000. Clear Investment Research LLC bought a new stake in McDonald’s during the fourth quarter valued at $38,000. Kings Path Partners LLC purchased a new position in McDonald’s during the second quarter worth about $38,000. Atlantic Edge Private Wealth Management LLC bought a new position in McDonald’s in the 4th quarter worth about $39,000. Finally, Accent Capital Management LLC purchased a new stake in shares of McDonald’s in the 4th quarter valued at about $44,000. Hedge funds and other institutional investors own 70.29% of the company’s stock.

McDonald’s Trading Up 0.6 %

Shares of NYSE:MCD opened at $289.58 on Friday. The company has a 50-day moving average price of $268.64 and a 200-day moving average price of $270.91. The company has a market cap of $208.70 billion, a price-to-earnings ratio of 24.58, a price-to-earnings-growth ratio of 3.86 and a beta of 0.72. McDonald’s Co. has a 12 month low of $243.53 and a 12 month high of $302.39.

McDonald’s (NYSE:MCD) last released its quarterly earnings results on Monday, July 29th. The fast-food giant reported $2.97 EPS for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.10). McDonald’s had a net margin of 32.25% and a negative return on equity of 178.68%. The business had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.62 billion. During the same period in the previous year, the company earned $3.17 EPS. The company’s revenue for the quarter was down .1% on a year-over-year basis. As a group, research analysts forecast that McDonald’s Co. will post 11.67 EPS for the current fiscal year.

McDonald’s Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be issued a dividend of $1.67 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.31%. McDonald’s’s dividend payout ratio is presently 56.71%.

Insider Buying and Selling

In other McDonald’s news, insider Joseph M. Erlinger sold 1,098 shares of the business’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $260.00, for a total transaction of $285,480.00. Following the transaction, the insider now directly owns 14,780 shares of the company’s stock, valued at approximately $3,842,800. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, insider Joseph M. Erlinger sold 1,098 shares of McDonald’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $260.00, for a total transaction of $285,480.00. Following the sale, the insider now owns 14,780 shares of the company’s stock, valued at approximately $3,842,800. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Marion K. Gross sold 1,498 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $286.36, for a total transaction of $428,967.28. Following the transaction, the executive vice president now owns 1,560 shares in the company, valued at approximately $446,721.60. The disclosure for this sale can be found here. Insiders sold 6,291 shares of company stock valued at $1,689,073 over the last quarter. 0.23% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

MCD has been the subject of several recent analyst reports. Citigroup cut their price objective on McDonald’s from $280.00 to $275.00 and set a “neutral” rating for the company in a report on Tuesday, July 30th. Guggenheim boosted their price target on shares of McDonald’s from $280.00 to $290.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Bank of America lowered their price objective on shares of McDonald’s from $288.00 to $278.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 30th. Loop Capital dropped their price objective on shares of McDonald’s from $357.00 to $342.00 and set a “buy” rating for the company in a report on Tuesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on McDonald’s from $295.00 to $290.00 and set a “buy” rating on the stock in a research note on Tuesday, July 30th. Eleven equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $303.89.

McDonald’s Profile

McDonald's Corporation operates and franchises restaurants under the McDonald's brand in the United States and internationally. It offers food and beverages, including hamburgers and cheeseburgers, various chicken sandwiches, fries, shakes, desserts, sundaes, cookies, pies, soft drinks, coffee, and other beverages; and full or limited breakfast, as well as sells various other products during limited-time promotions.