Boit C F David Has $5.61 Million Position in McDonald’s Co. (NYSE:MCD)

Boit C F David trimmed its holdings in McDonald’s Co. (NYSE:MCD) by 1.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,800 shares of the fast-food giant’s stock after selling 300 shares during the quarter. McDonald’s accounts for 3.7% of Boit C F David’s portfolio, making the stock its 7th largest holding. Boit C F David’s holdings in McDonald’s were worth $5,610,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Osterweis Capital Management Inc. bought a new position in McDonald’s in the fourth quarter worth $25,000. Grey Fox Wealth Advisors LLC lifted its position in McDonald’s by 102.0% in the first quarter. Grey Fox Wealth Advisors LLC now owns 101 shares of the fast-food giant’s stock worth $28,000 after purchasing an additional 51 shares during the period. Ridgewood Investments LLC bought a new position in McDonald’s in the first quarter worth $32,000. Retirement Group LLC bought a new position in McDonald’s in the fourth quarter worth $37,000. Finally, Kepos Capital LP bought a new position in McDonald’s in the fourth quarter worth $38,000. 67.60% of the stock is owned by institutional investors.

Insider Transactions at McDonald’s

In other news, EVP Heidi B. Capozzi sold 688 shares of the company’s stock in a transaction that occurred 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 sale, the executive vice president now owns 20,019 shares in the company, valued at approximately $5,656,168.26. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, EVP Heidi B. Capozzi sold 688 shares of the stock in a transaction on Friday, September 1st. The stock was sold at an average price of $282.54, for a total value of $194,387.52. Following the sale, the executive vice president now owns 20,019 shares in the company, valued at approximately $5,656,168.26. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Marion K. Gross sold 3,000 shares of the stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $289.52, for a total value of $868,560.00. Following the completion of the sale, the executive vice president now owns 1,605 shares in the company, valued at approximately $464,679.60. The disclosure for this sale can be found here. Insiders have sold a total of 18,149 shares of company stock worth $5,257,201 in the last 90 days. Corporate insiders own 0.27% of the company’s stock.

McDonald’s Stock Performance

Shares of MCD opened at $278.23 on Friday. The stock has a 50 day simple moving average of $287.27 and a 200 day simple moving average of $286.06. McDonald’s Co. has a 52-week low of $230.58 and a 52-week high of $299.35. The firm has a market capitalization of $202.76 billion, a PE ratio of 25.60, a P/E/G ratio of 2.75 and a beta of 0.64.

McDonald’s (NYSE:MCD) last issued its quarterly earnings data 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. McDonald’s had a negative return on equity of 139.57% and a net margin of 33.06%. The business had revenue of $6.50 billion during the quarter, compared to analyst estimates of $6.30 billion. During the same period in the previous year, the firm earned $2.55 EPS. McDonald’s’s quarterly revenue was up 13.6% compared to the same quarter last year. Equities research analysts predict that McDonald’s Co. will post 11.49 EPS for the current fiscal year.

McDonald’s Announces Dividend

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

Wall Street Analyst Weigh In

Several brokerages recently commented on MCD. Oppenheimer raised their target price on McDonald’s from $315.00 to $330.00 in a research report on Friday, July 28th. Barclays increased their price objective on McDonald’s from $330.00 to $345.00 and gave the stock an “overweight” rating in a research note on Friday, July 28th. Guggenheim increased their price objective on McDonald’s from $325.00 to $330.00 and gave the stock a “buy” rating in a research note on Friday, July 28th. KeyCorp increased their price objective on McDonald’s from $320.00 to $330.00 and gave the stock an “overweight” rating in a research note on Friday, July 21st. Finally, BTIG Research increased their price objective on McDonald’s from $305.00 to $315.00 and gave the stock a “buy” rating in a research note on Friday, July 21st. Five equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $323.17.

McDonald’s Company 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.