Moors & Cabot Inc. Cuts Stake in McDonald’s Co. (NYSE:MCD)

Moors & Cabot Inc. lowered its position in shares of McDonald’s Co. (NYSE:MCD) by 2.1% in the second quarter, Holdings Channel reports. The institutional investor owned 16,541 shares of the fast-food giant’s stock after selling 356 shares during the period. Moors & Cabot Inc.’s holdings in McDonald’s were worth $4,215,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Dixon Mitchell Investment Counsel Inc. purchased a new position in McDonald’s during the 1st quarter worth $28,000. Clear Investment Research LLC purchased a new position in shares of McDonald’s in the 4th quarter valued at about $38,000. Kings Path Partners LLC purchased a new position in shares of McDonald’s in the 2nd quarter valued at about $38,000. Accent Capital Management LLC purchased a new position in shares of McDonald’s in the 4th quarter valued at about $44,000. Finally, Transcendent Capital Group LLC purchased a new position in shares of McDonald’s in the 4th quarter valued at about $45,000. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on MCD. Loop Capital reiterated a “buy” rating and issued a $342.00 price target on shares of McDonald’s in a report on Tuesday, September 10th. Truist Financial cut their price target on shares of McDonald’s from $300.00 to $295.00 and set a “buy” rating for the company in a report on Tuesday, July 30th. Guggenheim increased their price target on shares of McDonald’s from $280.00 to $290.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Jefferies Financial Group increased their price target on shares of McDonald’s from $310.00 to $330.00 and gave the company a “buy” rating in a report on Monday, September 9th. Finally, Barclays cut their price target on shares of McDonald’s from $320.00 to $300.00 and set an “overweight” rating for the company in a report on Tuesday, July 30th. Eleven equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to data from MarketBeat, McDonald’s has an average rating of “Moderate Buy” and an average price target of $306.11.

Insider Activity at McDonald’s

In other news, EVP Marion K. Gross sold 1,498 shares of McDonald’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $286.36, for a total transaction of $428,967.28. Following the sale, the executive vice president now owns 1,560 shares in the company, valued at $446,721.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Joseph M. Erlinger sold 1,099 shares of McDonald’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $260.00, for a total transaction of $285,740.00. Following the sale, the insider now owns 13,681 shares in the company, valued at $3,557,060. The transaction 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 McDonald’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $286.36, for a total transaction of $428,967.28. Following the sale, 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. Over the last quarter, insiders have sold 6,291 shares of company stock worth $1,689,073. Company insiders own 0.23% of the company’s stock.

McDonald’s Stock Performance

MCD opened at $296.66 on Tuesday. The company’s 50 day simple moving average is $273.87 and its 200 day simple moving average is $270.50. McDonald’s Co. has a 1 year low of $243.53 and a 1 year high of $302.39. The stock has a market capitalization of $213.80 billion, a PE ratio of 25.18, a P/E/G ratio of 3.88 and a beta of 0.72.

McDonald’s (NYSE:MCD) last posted its quarterly earnings results on Monday, July 29th. The fast-food giant reported $2.97 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts’ expectations of $6.62 billion. During the same quarter in the previous year, the business posted $3.17 EPS. The company’s quarterly revenue was down .1% on a year-over-year basis. As a group, sell-side analysts expect that McDonald’s Co. will post 11.67 earnings per share for the current fiscal year.

McDonald’s Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be issued a $1.67 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $6.68 annualized dividend and a yield of 2.25%. McDonald’s’s payout ratio is 56.71%.

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.