Burns J W & Co. Inc. NY Sells 308 Shares of McDonald’s Corporation $MCD

Burns J W & Co. Inc. NY reduced its stake in shares of McDonald’s Corporation (NYSE:MCD) by 0.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 45,035 shares of the fast-food giant’s stock after selling 308 shares during the quarter. McDonald’s accounts for approximately 1.6% of Burns J W & Co. Inc. NY’s portfolio, making the stock its 17th largest holding. Burns J W & Co. Inc. NY’s holdings in McDonald’s were worth $13,158,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Mascagni Wealth Management Inc. bought a new position in shares of McDonald’s during the fourth quarter valued at about $25,000. HFM Investment Advisors LLC bought a new position in shares of McDonald’s during the first quarter valued at about $26,000. Nova Wealth Management Inc. bought a new position in shares of McDonald’s during the first quarter valued at about $26,000. Pinney & Scofield Inc. bought a new position in shares of McDonald’s during the fourth quarter valued at about $29,000. Finally, Abound Financial LLC bought a new stake in shares of McDonald’s in the first quarter worth about $30,000. 70.29% of the stock is owned by institutional investors.

Insider Transactions at McDonald’s

In other news, EVP Jonathan Banner sold 1,000 shares of McDonald’s stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $310.00, for a total transaction of $310,000.00. Following the completion of the transaction, the executive vice president directly owned 99 shares in the company, valued at approximately $30,690. This trade represents a 90.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Desiree Ralls-Morrison sold 2,487 shares of McDonald’s stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $310.00, for a total transaction of $770,970.00. Following the transaction, the executive vice president owned 8,754 shares of the company’s stock, valued at $2,713,740. The trade was a 22.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 8,341 shares of company stock valued at $2,544,327. Insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. JPMorgan Chase & Co. raised their target price on McDonald’s from $305.00 to $310.00 and gave the stock an “overweight” rating in a research note on Thursday, August 7th. KeyCorp reissued an “overweight” rating and issued a $335.00 target price (up from $325.00) on shares of McDonald’s in a research note on Thursday, August 7th. Redburn Atlantic reissued a “sell” rating and issued a $260.00 target price (down from $319.00) on shares of McDonald’s in a research note on Tuesday, June 10th. Stifel Nicolaus raised their target price on McDonald’s from $300.00 to $315.00 and gave the stock a “hold” rating in a research note on Friday, August 22nd. Finally, Argus cut McDonald’s from a “buy” rating to a “hold” rating in a research note on Friday, June 13th. Eleven equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, McDonald’s presently has a consensus rating of “Hold” and an average price target of $325.86.

McDonald’s Stock Performance

McDonald’s stock opened at $301.19 on Friday. The stock’s 50 day simple moving average is $306.01 and its two-hundred day simple moving average is $306.47. The stock has a market cap of $214.93 billion, a price-to-earnings ratio of 25.81, a PEG ratio of 3.11 and a beta of 0.50. McDonald’s Corporation has a fifty-two week low of $276.53 and a fifty-two week high of $326.32.

McDonald’s (NYSE:MCD) last posted its quarterly earnings data on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share for the quarter, beating the consensus estimate of $3.15 by $0.04. The business had revenue of $6.84 billion for the quarter, compared to analysts’ expectations of $6.68 billion. McDonald’s had a negative return on equity of 225.52% and a net margin of 32.21%.The business’s revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the firm posted $2.97 EPS. On average, analysts predict that McDonald’s Corporation will post 12.25 earnings per share for the current year.

McDonald’s Announces Dividend

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

About McDonald’s

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.