McDonald’s Corporation $MCD Stock Position Lowered by Praxis Investment Management Inc.

Praxis Investment Management Inc. lessened its position in McDonald’s Corporation (NYSE:MCD) by 30.2% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 11,417 shares of the fast-food giant’s stock after selling 4,930 shares during the quarter. Praxis Investment Management Inc.’s holdings in McDonald’s were worth $3,336,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in MCD. Brighton Jones LLC lifted its position in shares of McDonald’s by 21.6% in the 4th quarter. Brighton Jones LLC now owns 9,286 shares of the fast-food giant’s stock valued at $2,692,000 after acquiring an additional 1,649 shares in the last quarter. Revolve Wealth Partners LLC lifted its position in McDonald’s by 2.8% in the 4th quarter. Revolve Wealth Partners LLC now owns 1,942 shares of the fast-food giant’s stock worth $563,000 after buying an additional 52 shares in the last quarter. Quotient Wealth Partners LLC lifted its position in McDonald’s by 10.9% in the 1st quarter. Quotient Wealth Partners LLC now owns 2,616 shares of the fast-food giant’s stock worth $817,000 after buying an additional 258 shares in the last quarter. SSA Swiss Advisors AG purchased a new stake in McDonald’s in the 1st quarter worth approximately $175,000. Finally, GAMMA Investing LLC lifted its position in McDonald’s by 25.3% in the 1st quarter. GAMMA Investing LLC now owns 11,198 shares of the fast-food giant’s stock worth $3,498,000 after buying an additional 2,261 shares in the last quarter. Hedge funds and other institutional investors own 70.29% of the company’s stock.

McDonald’s Trading Up 0.0%

McDonald’s stock opened at $305.33 on Friday. The company has a market capitalization of $217.88 billion, a P/E ratio of 26.16, a P/E/G ratio of 3.22 and a beta of 0.50. McDonald’s Corporation has a 1-year low of $276.53 and a 1-year high of $326.32. The firm’s fifty day simple moving average is $306.24 and its 200-day simple moving average is $305.58.

McDonald’s (NYSE:MCD) last released its earnings results on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share for the quarter, topping analysts’ consensus estimates of $3.15 by $0.04. The firm 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 business’s revenue was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.97 EPS. On average, equities research analysts predict that McDonald’s Corporation will post 12.25 earnings per share for the current year.

McDonald’s Dividend Announcement

The company also recently announced 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. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $7.08 dividend on an annualized basis and a yield of 2.3%. McDonald’s’s payout ratio is currently 60.67%.

Analyst Ratings Changes

A number of research firms have issued reports on MCD. Barclays increased their target price on shares of McDonald’s from $355.00 to $360.00 and gave the stock an “overweight” rating in a research report on Thursday, August 7th. JPMorgan Chase & Co. increased their target price on shares of McDonald’s from $305.00 to $310.00 and gave the stock an “overweight” rating in a research report on Thursday, August 7th. Evercore ISI increased 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. TD Cowen raised their price target on shares of McDonald’s from $305.00 to $315.00 and gave the company a “hold” rating in a report on Wednesday, August 6th. Finally, BMO Capital Markets raised their price target on shares of 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, fifteen have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $324.27.

Insider Activity

In other McDonald’s news, CMO Edith Morgan Flatley sold 1,000 shares of the business’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $315.00, for a total transaction of $315,000.00. Following the completion of the transaction, the chief marketing officer owned 6,858 shares of the company’s stock, valued at $2,160,270. The trade was a 12.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Joseph M. Erlinger sold 939 shares of the business’s stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $299.49, for a total transaction of $281,221.11. Following the transaction, the insider directly owned 9,283 shares of the company’s stock, valued at approximately $2,780,165.67. This represents a 9.19% decrease in their position. The disclosure for this sale can be found here. Insiders sold 6,402 shares of company stock worth $1,973,407 in the last 90 days. 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.