Tealwood Asset Management Inc. Reduces Position in McDonald’s Corporation $MCD

Tealwood Asset Management Inc. trimmed its holdings in shares of McDonald’s Corporation (NYSE:MCD) by 2.4% during the second quarter, Holdings Channel reports. The fund owned 7,922 shares of the fast-food giant’s stock after selling 195 shares during the quarter. Tealwood Asset Management Inc.’s holdings in McDonald’s were worth $2,315,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Smith Chas P & Associates PA Cpas increased its holdings in McDonald’s by 0.9% during the 2nd quarter. Smith Chas P & Associates PA Cpas now owns 176,983 shares of the fast-food giant’s stock worth $51,709,000 after purchasing an additional 1,589 shares during the last quarter. Baron Silver Stevens Financial Advisors LLC increased its stake in shares of McDonald’s by 10.2% in the second quarter. Baron Silver Stevens Financial Advisors LLC now owns 2,376 shares of the fast-food giant’s stock worth $694,000 after buying an additional 220 shares during the last quarter. Invesco LLC increased its stake in shares of McDonald’s by 3.4% in the second quarter. Invesco LLC now owns 6,490 shares of the fast-food giant’s stock worth $1,896,000 after buying an additional 214 shares during the last quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH increased its stake in shares of McDonald’s by 15.3% in the second quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 2,840 shares of the fast-food giant’s stock worth $830,000 after buying an additional 376 shares during the last quarter. Finally, Moss Adams Wealth Advisors LLC increased its stake in shares of McDonald’s by 8.7% in the second quarter. Moss Adams Wealth Advisors LLC now owns 3,717 shares of the fast-food giant’s stock worth $1,086,000 after buying an additional 299 shares during the last quarter. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MCD has been the subject of several research analyst reports. Evercore ISI boosted their target price on shares of McDonald’s from $350.00 to $360.00 and gave the stock an “outperform” rating in a research report on Friday, August 8th. KeyCorp reissued an “overweight” rating and issued a $335.00 price objective (up from $325.00) on shares of McDonald’s in a report on Thursday, August 7th. Argus lowered McDonald’s from a “buy” rating to a “hold” rating in a report on Friday, June 13th. Loop Capital downgraded McDonald’s from a “buy” rating to a “hold” rating and lowered their price target for the company from $346.00 to $315.00 in a report on Friday, June 6th. Finally, BMO Capital Markets boosted their price target on McDonald’s from $350.00 to $360.00 and gave the company an “outperform” rating in a report on Thursday, September 4th. Eleven investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, McDonald’s currently has a consensus rating of “Hold” and a consensus target price of $325.86.

McDonald’s Price Performance

Shares of MCD opened at $302.56 on Tuesday. The stock has a fifty day moving average price of $306.62 and a 200 day moving average price of $306.27. The company has a market cap of $215.91 billion, a P/E ratio of 25.93, a PEG ratio of 3.11 and a beta of 0.49. McDonald’s Corporation has a 12 month low of $276.53 and a 12 month high of $326.32.

McDonald’s (NYSE:MCD) last released its quarterly earnings results on Wednesday, August 6th. The fast-food giant reported $3.19 EPS for the quarter, topping the consensus estimate of $3.15 by $0.04. The business had revenue of $6.84 billion during the quarter, compared to analyst estimates of $6.68 billion. McDonald’s had a net margin of 32.21% and a negative return on equity of 225.52%. The company’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.97 earnings per share. As a group, research analysts anticipate that McDonald’s Corporation will post 12.25 earnings per share for the current year.

McDonald’s Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd were issued a $1.77 dividend. This represents a $7.08 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend was Tuesday, September 2nd. McDonald’s’s dividend payout ratio is 60.67%.

Insiders Place Their Bets

In other news, insider Joseph M. Erlinger sold 939 shares of the stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $299.49, for a total value of $281,221.11. Following the completion of the transaction, the insider owned 9,283 shares of the company’s stock, valued at approximately $2,780,165.67. This represents a 9.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Desiree Ralls-Morrison sold 2,487 shares of the stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $310.00, for a total value of $770,970.00. Following the completion of the transaction, the executive vice president directly owned 8,754 shares of the company’s stock, valued at approximately $2,713,740. The trade was a 22.12% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,402 shares of company stock valued at $2,273,407. 0.25% of the stock is owned by corporate insiders.

McDonald’s Company 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.