Ieq Capital LLC Sells 8,362 Shares of McDonald’s Co. (NYSE:MCD)

Ieq Capital LLC cut its position in shares of McDonald’s Co. (NYSE:MCD) by 18.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 36,755 shares of the fast-food giant’s stock after selling 8,362 shares during the quarter. Ieq Capital LLC’s holdings in McDonald’s were worth $9,367,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Dixon Mitchell Investment Counsel Inc. purchased a new stake in McDonald’s during the first quarter valued at about $28,000. Clear Investment Research LLC purchased a new stake in McDonald’s during the 4th quarter valued at about $38,000. Kings Path Partners LLC bought a new position in McDonald’s during the 2nd quarter worth approximately $38,000. Accent Capital Management LLC purchased a new position in McDonald’s in the 4th quarter worth approximately $44,000. Finally, Transcendent Capital Group LLC bought a new stake in McDonald’s in the fourth quarter valued at approximately $45,000. 70.29% of the stock is owned by hedge funds and other institutional investors.

McDonald’s Price Performance

Shares of McDonald’s stock opened at $293.85 on Friday. The stock has a market cap of $211.77 billion, a price-to-earnings ratio of 24.94, a PEG ratio of 3.88 and a beta of 0.72. McDonald’s Co. has a 1 year low of $243.53 and a 1 year high of $302.39. The firm’s 50-day moving average is $276.44 and its 200 day moving average is $270.84.

McDonald’s (NYSE:MCD) last posted its quarterly earnings results on Monday, July 29th. The fast-food giant reported $2.97 EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.62 billion. During the same quarter in the previous year, the company earned $3.17 EPS. The company’s quarterly revenue was down .1% compared to the same quarter last year. On average, equities analysts expect that McDonald’s Co. will post 11.67 EPS for the current fiscal year.

McDonald’s Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were paid a $1.67 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.27%. McDonald’s’s dividend payout ratio is presently 56.71%.

Insider Buying and Selling

In other news, EVP Marion K. Gross sold 1,498 shares of the stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $248.26, for a total transaction of $371,893.48. Following the transaction, the executive vice president now directly owns 1,560 shares of the company’s stock, valued at approximately $387,285.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, EVP Marion K. Gross sold 1,498 shares of the stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $248.26, for a total value of $371,893.48. Following the transaction, the executive vice president now owns 1,560 shares in the company, valued at approximately $387,285.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Joseph M. Erlinger sold 1,099 shares of the business’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $260.00, for a total transaction of $285,740.00. Following the sale, the insider now owns 13,681 shares of the company’s stock, valued at $3,557,060. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,193 shares of company stock worth $1,403,593. 0.23% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on MCD. Wedbush restated an “outperform” rating and issued a $295.00 target price on shares of McDonald’s in a report on Monday, July 29th. The Goldman Sachs Group began coverage on shares of McDonald’s in a report on Thursday, June 13th. They issued a “neutral” rating and a $288.00 price target on the stock. Bank of America lowered their price objective on shares of McDonald’s from $288.00 to $278.00 and set a “neutral” rating for the company in a research note on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft cut their target price on McDonald’s from $295.00 to $290.00 and set a “buy” rating on the stock in a research note on Tuesday, July 30th. Finally, Truist Financial dropped their price objective on McDonald’s from $300.00 to $295.00 and set a “buy” rating for the company in a report on Tuesday, July 30th. Eleven research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $306.11.

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.