CCLA Investment Management Sells 4,405 Shares of McDonald’s Corporation $MCD

CCLA Investment Management cut its position in McDonald’s Corporation (NYSE:MCD) by 1.2% in the second quarter, HoldingsChannel.com reports. The firm owned 366,824 shares of the fast-food giant’s stock after selling 4,405 shares during the period. CCLA Investment Management’s holdings in McDonald’s were worth $107,167,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. HFM Investment Advisors LLC purchased a new stake in shares of McDonald’s during the first quarter worth about $26,000. Nova Wealth Management Inc. purchased a new stake in shares of McDonald’s during the first quarter worth about $26,000. GFG Capital LLC purchased a new stake in shares of McDonald’s during the second quarter worth about $29,000. Abound Financial LLC purchased a new stake in shares of McDonald’s during the first quarter worth about $30,000. Finally, Redmont Wealth Advisors LLC purchased a new stake in shares of McDonald’s during the first quarter worth about $31,000. 70.29% of the stock is currently owned by institutional investors.

McDonald’s Trading Down 0.3%

McDonald’s stock opened at $306.05 on Monday. McDonald’s Corporation has a 12 month low of $276.53 and a 12 month high of $326.32. The stock’s 50 day simple moving average is $306.49 and its two-hundred day simple moving average is $305.67. The firm has a market cap of $218.39 billion, a PE ratio of 26.23, a P/E/G ratio of 3.23 and a beta of 0.50.

McDonald’s (NYSE:MCD) last released its quarterly earnings data 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. McDonald’s had a negative return on equity of 225.52% and a net margin of 32.21%.The business 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 firm posted $2.97 EPS. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. On average, equities research analysts forecast that McDonald’s Corporation will post 12.25 EPS for the current year.

McDonald’s Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be given a $1.86 dividend. The ex-dividend date is Monday, December 1st. This represents a $7.44 annualized dividend and a yield of 2.4%. This is a boost from McDonald’s’s previous quarterly dividend of $1.77. McDonald’s’s payout ratio is currently 60.67%.

Analysts Set New Price Targets

MCD has been the topic of a number of research analyst reports. Guggenheim dropped their price target on McDonald’s from $310.00 to $295.00 and set a “neutral” rating on the stock in a research note on Friday, October 10th. KeyCorp reiterated an “overweight” rating and issued a $335.00 target price on shares of McDonald’s in a research report on Monday, October 20th. Royal Bank Of Canada initiated coverage on McDonald’s in a research report on Wednesday, October 8th. They issued a “sector perform” rating and a $320.00 target price on the stock. Morgan Stanley set a $335.00 target price on McDonald’s in a research report on Friday, October 17th. Finally, Bank of America dropped their target price on McDonald’s from $327.00 to $322.00 and set a “neutral” rating on the stock in a research report on Friday, July 18th. Eleven analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $324.50.

Insiders Place Their Bets

In other McDonald’s news, EVP Jonathan Banner sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $310.00, for a total value of $310,000.00. Following the sale, the executive vice president owned 99 shares in the company, valued at approximately $30,690. This represents a 90.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CMO Edith Morgan Flatley sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $315.00, for a total value of $315,000.00. Following the completion of the sale, the chief marketing officer owned 6,858 shares in the company, valued at approximately $2,160,270. This represents a 12.73% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,463 shares of company stock worth $1,692,186. Corporate 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.