Beese Fulmer Investment Management Inc. Sells 245 Shares of McDonald’s Co. (NYSE:MCD)

Beese Fulmer Investment Management Inc. trimmed its position in McDonald’s Co. (NYSE:MCD) by 0.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 50,866 shares of the fast-food giant’s stock after selling 245 shares during the quarter. McDonald’s accounts for 1.6% of Beese Fulmer Investment Management Inc.’s portfolio, making the stock its 14th largest position. Beese Fulmer Investment Management Inc.’s holdings in McDonald’s were worth $15,179,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of MCD. First Fiduciary Investment Counsel Inc. increased its stake in shares of McDonald’s by 12.5% in the first quarter. First Fiduciary Investment Counsel Inc. now owns 900 shares of the fast-food giant’s stock valued at $252,000 after buying an additional 100 shares in the last quarter. MBE Wealth Management LLC boosted its holdings in McDonald’s by 4.5% in the first quarter. MBE Wealth Management LLC now owns 1,825 shares of the fast-food giant’s stock valued at $510,000 after acquiring an additional 79 shares during the last quarter. Avantax Advisory Services Inc. boosted its holdings in McDonald’s by 20.3% during the first quarter. Avantax Advisory Services Inc. now owns 43,252 shares of the fast-food giant’s stock worth $12,094,000 after buying an additional 7,312 shares during the last quarter. Litman Gregory Wealth Management LLC bought a new position in McDonald’s during the first quarter worth about $315,000. Finally, Park Avenue Securities LLC boosted its holdings in McDonald’s by 0.3% during the first quarter. Park Avenue Securities LLC now owns 19,390 shares of the fast-food giant’s stock worth $5,422,000 after buying an additional 63 shares during the last quarter. 67.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Heidi B. Capozzi sold 688 shares of the company’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $282.54, for a total transaction of $194,387.52. Following the completion of the sale, the executive vice president now directly owns 20,019 shares in the company, valued at approximately $5,656,168.26. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, EVP Heidi B. Capozzi sold 688 shares of the business’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $282.54, for a total transaction of $194,387.52. Following the completion of the transaction, the executive vice president now owns 20,019 shares of the company’s stock, valued at approximately $5,656,168.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Joseph M. Erlinger sold 4,487 shares of the company’s stock in a transaction dated Friday, July 21st. The stock was sold at an average price of $297.87, for a total value of $1,336,542.69. Following the completion of the transaction, the insider now directly owns 11,412 shares of the company’s stock, valued at approximately $3,399,292.44. The disclosure for this sale can be found here. In the last three months, insiders sold 18,149 shares of company stock worth $5,257,201. 0.27% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

MCD has been the topic of a number of recent analyst reports. Royal Bank of Canada raised their target price on McDonald’s from $325.00 to $340.00 and gave the stock an “outperform” rating in a report on Friday, July 28th. Oppenheimer raised their price target on McDonald’s from $315.00 to $330.00 in a research report on Friday, July 28th. Jefferies Financial Group raised their price target on McDonald’s from $330.00 to $335.00 and gave the stock a “buy” rating in a research report on Thursday, July 20th. BTIG Research raised their price target on McDonald’s from $305.00 to $315.00 and gave the stock a “buy” rating in a research report on Friday, July 21st. Finally, Loop Capital raised their price target on McDonald’s from $346.00 to $383.00 in a research report on Friday, July 28th. Five analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. Based on data from MarketBeat, McDonald’s has an average rating of “Moderate Buy” and an average price target of $323.17.

McDonald’s Price Performance

MCD opened at $278.11 on Monday. The business has a fifty day simple moving average of $287.27 and a 200 day simple moving average of $286.22. The company has a market capitalization of $202.68 billion, a PE ratio of 25.60, a price-to-earnings-growth ratio of 2.75 and a beta of 0.64. McDonald’s Co. has a 1 year low of $230.58 and a 1 year high of $299.35.

McDonald’s (NYSE:MCD) last released its quarterly earnings results on Thursday, July 27th. The fast-food giant reported $3.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.77 by $0.40. The business had revenue of $6.50 billion during the quarter, compared to the consensus estimate of $6.30 billion. McDonald’s had a negative return on equity of 139.57% and a net margin of 33.06%. The firm’s quarterly revenue was up 13.6% on a year-over-year basis. During the same period in the previous year, the company posted $2.55 EPS. Equities analysts anticipate that McDonald’s Co. will post 11.49 earnings per share for the current fiscal year.

McDonald’s Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 18th. Stockholders of record on Friday, September 1st will be given a dividend of $1.52 per share. The ex-dividend date is Thursday, August 31st. This represents a $6.08 dividend on an annualized basis and a dividend yield of 2.19%. McDonald’s’s payout ratio is 55.93%.

McDonald’s Profile

McDonald's Corporation operates and franchises McDonald's restaurants in the United States and internationally. The company's restaurants offer hamburgers and cheeseburgers, chicken sandwiches and nuggets, fries, salads, shakes, frozen desserts, sundaes, soft serve cones, bakery items, soft drinks, coffee, and beverages and other beverages, as well as breakfast menu, including muffins, Sausages, biscuit and bagel sandwiches, oatmeal, hash browns, breakfast burritos and hotcakes.