Douglas Lane & Associates LLC Has $563,000 Stock Holdings in McDonald’s Corporation $MCD

Douglas Lane & Associates LLC cut its position in shares of McDonald’s Corporation (NYSE:MCD) by 4.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,928 shares of the fast-food giant’s stock after selling 85 shares during the period. Douglas Lane & Associates LLC’s holdings in McDonald’s were worth $563,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of MCD. Mascagni Wealth Management Inc. acquired a new position in shares of McDonald’s during the 4th quarter worth about $25,000. HFM Investment Advisors LLC acquired a new position in McDonald’s in the 1st quarter valued at about $26,000. Nova Wealth Management Inc. acquired a new position in McDonald’s in the 1st quarter valued at about $26,000. Pinney & Scofield Inc. acquired a new position in McDonald’s in the 4th quarter valued at about $29,000. Finally, Abound Financial LLC acquired a new position in McDonald’s in the 1st quarter valued at about $30,000. 70.29% of the stock is currently owned by institutional investors and hedge funds.

McDonald’s Stock Down 1.0%

Shares of NYSE:MCD opened at $305.49 on Monday. The company’s 50 day moving average price is $305.33 and its two-hundred day moving average price is $306.57. McDonald’s Corporation has a 12-month low of $276.53 and a 12-month high of $326.32. The firm has a market cap of $218.00 billion, a PE ratio of 26.18, a PEG ratio of 3.11 and a beta of 0.49.

McDonald’s (NYSE:MCD) last announced its 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 analyst estimates of $6.68 billion. During the same quarter in the prior year, the business posted $2.97 EPS. The business’s revenue was up 5.4% compared to the same quarter last year. On average, research analysts expect that McDonald’s Corporation will post 12.25 EPS for the current year.

McDonald’s Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd will be given a dividend of $1.77 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $7.08 annualized dividend and a dividend yield of 2.3%. McDonald’s’s dividend payout ratio (DPR) is currently 60.67%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Barclays upped their price target on shares of McDonald’s from $355.00 to $360.00 and gave the company an “overweight” rating in a research note on Thursday, August 7th. Citigroup upped their price target on shares of McDonald’s from $364.00 to $365.00 and gave the company a “buy” rating in a research note on Wednesday, July 9th. TD Cowen upped their price target on shares of McDonald’s from $305.00 to $315.00 and gave the company a “hold” rating in a research note on Wednesday, August 6th. Stifel Nicolaus upped their price target on shares of McDonald’s from $300.00 to $315.00 and gave the company a “hold” rating in a research note on Friday, August 22nd. Finally, Truist Financial upped their price target on shares of McDonald’s from $356.00 to $360.00 and gave the company a “buy” rating in a research note on Thursday, August 7th. Eleven equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, McDonald’s presently has an average rating of “Hold” and a consensus price target of $325.14.

Insider Activity

In related news, insider Joseph M. Erlinger sold 939 shares of the stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $299.49, for a total transaction of $281,221.11. Following the sale, the insider owned 9,283 shares in the company, valued at approximately $2,780,165.67. This trade represents a 9.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Jonathan Banner sold 1,000 shares of the stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $310.00, for a total transaction of $310,000.00. Following the sale, the executive vice president owned 99 shares in the company, valued at $30,690. This represents a 90.99% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 8,341 shares of company stock worth $2,544,327. Insiders own 0.25% of the company’s stock.

McDonald’s 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.