Norden Group LLC Sells 1,204 Shares of McDonald’s Co. (NYSE:MCD)

Norden Group LLC trimmed its holdings in shares of McDonald’s Co. (NYSE:MCD) by 23.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,860 shares of the fast-food giant’s stock after selling 1,204 shares during the period. Norden Group LLC’s holdings in McDonald’s were worth $984,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. Dixon Mitchell Investment Counsel Inc. acquired a new position in shares of McDonald’s during the 1st quarter worth about $28,000. Clear Investment Research LLC acquired a new stake in McDonald’s in the fourth quarter worth $38,000. Kings Path Partners LLC bought a new position in shares of McDonald’s during the second quarter worth $38,000. Atlantic Edge Private Wealth Management LLC acquired a new position in shares of McDonald’s in the 4th quarter valued at $39,000. Finally, Accent Capital Management LLC bought a new stake in shares of McDonald’s in the 4th quarter valued at $44,000. 70.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at McDonald’s

In other news, EVP Marion K. Gross sold 1,498 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $286.36, for a total transaction of $428,967.28. Following the completion of the sale, the executive vice president now owns 1,560 shares in the company, valued at $446,721.60. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, insider Joseph M. Erlinger sold 1,099 shares of McDonald’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $260.00, for a total transaction of $285,740.00. Following the completion of the sale, the insider now owns 13,681 shares of the company’s stock, valued at $3,557,060. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Marion K. Gross sold 1,498 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $286.36, for a total transaction of $428,967.28. Following the completion of the transaction, the executive vice president now owns 1,560 shares in the company, valued at $446,721.60. The disclosure for this sale can be found here. Insiders have sold a total of 6,291 shares of company stock valued at $1,689,073 in the last three months. 0.23% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on MCD shares. Evercore ISI boosted their target price on McDonald’s from $300.00 to $320.00 and gave the company an “outperform” rating in a research note on Monday, August 19th. JPMorgan Chase & Co. decreased their price objective on McDonald’s from $290.00 to $270.00 and set an “overweight” rating for the company in a research report on Tuesday, July 30th. Loop Capital dropped their target price on shares of McDonald’s from $357.00 to $342.00 and set a “buy” rating on the stock in a report on Tuesday, July 30th. Barclays reduced their price target on shares of McDonald’s from $320.00 to $300.00 and set an “overweight” rating for the company in a report on Tuesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of McDonald’s from $295.00 to $290.00 and set a “buy” rating on the stock in a report on Tuesday, July 30th. Eleven analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, McDonald’s has an average rating of “Moderate Buy” and an average price target of $303.67.

McDonald’s Stock Up 0.5 %

MCD opened at $289.51 on Friday. McDonald’s Co. has a 12-month low of $243.53 and a 12-month high of $302.39. The business has a 50 day moving average of $268.64 and a 200-day moving average of $270.76. The stock has a market cap of $208.64 billion, a price-to-earnings ratio of 24.58, a PEG ratio of 3.86 and a beta of 0.72.

McDonald’s (NYSE:MCD) last announced its quarterly earnings results on Monday, July 29th. The fast-food giant reported $2.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.07 by ($0.10). McDonald’s had a net margin of 32.25% and a negative return on equity of 178.68%. The business had revenue of $6.49 billion for the quarter, compared to analyst estimates of $6.62 billion. During the same period in the prior year, the business earned $3.17 EPS. The company’s revenue for the quarter was down .1% compared to the same quarter last year. As a group, analysts expect that McDonald’s Co. will post 11.67 earnings per share for the current year.

McDonald’s Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be paid a $1.67 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $6.68 dividend on an annualized basis and a yield of 2.31%. McDonald’s’s dividend payout ratio (DPR) is currently 56.71%.

About McDonald’s

McDonald's Corporation operates and franchises restaurants under the McDonald's brand in the United States and internationally. It offers food and beverages, including hamburgers and cheeseburgers, various chicken sandwiches, fries, shakes, desserts, sundaes, cookies, pies, soft drinks, coffee, and other beverages; and full or limited breakfast, as well as sells various other products during limited-time promotions.