Garrison Point Advisors LLC Sells 100 Shares of McDonald’s Co. (NYSE:MCD)

Garrison Point Advisors LLC lessened its stake in McDonald’s Co. (NYSE:MCD) by 3.2% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 2,980 shares of the fast-food giant’s stock after selling 100 shares during the quarter. Garrison Point Advisors LLC’s holdings in McDonald’s were worth $759,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Dixon Mitchell Investment Counsel Inc. bought a new position in shares of McDonald’s in the 1st quarter valued at about $28,000. Clear Investment Research LLC acquired a new stake in McDonald’s in the 4th quarter valued at about $38,000. Kings Path Partners LLC acquired a new stake in McDonald’s in the 2nd quarter valued at about $38,000. Atlantic Edge Private Wealth Management LLC acquired a new position in McDonald’s during the fourth quarter worth approximately $39,000. Finally, Accent Capital Management LLC acquired a new position in McDonald’s during the fourth quarter worth approximately $44,000. 70.29% of the stock is owned by institutional investors.

Insider Buying and Selling at McDonald’s

In other news, insider Joseph M. Erlinger sold 1,098 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $288.70, for a total value of $316,992.60. Following the sale, the insider now directly owns 12,583 shares in the company, valued at approximately $3,632,712.10. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, EVP Marion K. Gross sold 1,498 shares of the company’s stock in a transaction on 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 directly owns 1,560 shares in the company, valued at $446,721.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Joseph M. Erlinger sold 1,098 shares of the stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $288.70, for a total value of $316,992.60. Following the completion of the transaction, the insider now owns 12,583 shares of the company’s stock, valued at $3,632,712.10. The disclosure for this sale can be found here. Insiders have sold a total of 6,291 shares of company stock worth $1,689,073 over the last 90 days. Insiders own 0.23% of the company’s stock.

McDonald’s Stock Down 0.0 %

MCD stock opened at $291.27 on Wednesday. The company’s 50-day moving average price is $270.34 and its two-hundred day moving average price is $270.52. The firm has a market cap of $209.91 billion, a P/E ratio of 24.73, a P/E/G ratio of 3.87 and a beta of 0.72. McDonald’s Co. has a 12 month low of $243.53 and a 12 month high of $302.39.

McDonald’s (NYSE:MCD) last announced its quarterly earnings data on Monday, July 29th. The fast-food giant reported $2.97 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 firm had revenue of $6.49 billion for the quarter, compared to analyst estimates of $6.62 billion. During the same quarter in the prior year, the firm earned $3.17 earnings per share. The firm’s revenue for the quarter was down .1% on a year-over-year basis. Equities analysts predict that McDonald’s Co. will post 11.67 EPS for the current year.

McDonald’s Dividend Announcement

The firm also recently disclosed 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. This represents a $6.68 annualized dividend and a yield of 2.29%. The ex-dividend date of this dividend is Tuesday, September 3rd. McDonald’s’s dividend payout ratio (DPR) is presently 56.71%.

Analysts Set New Price Targets

Several brokerages have recently commented on MCD. BMO Capital Markets reduced their target price on McDonald’s from $330.00 to $315.00 and set an “outperform” rating for the company in a research note on Tuesday, July 30th. Citigroup reduced their price objective on shares of McDonald’s from $280.00 to $275.00 and set a “neutral” rating for the company in a research report on Tuesday, July 30th. Wedbush reissued an “outperform” rating and issued a $295.00 price objective on shares of McDonald’s in a research report on Monday, July 29th. Evercore ISI raised their target price on shares of McDonald’s from $300.00 to $320.00 and gave the stock an “outperform” rating in a research note on Monday, August 19th. Finally, TD Cowen cut shares of McDonald’s from a “buy” rating to a “hold” rating and lowered their price target for the company from $285.00 to $280.00 in a report on Wednesday, July 31st. Eleven equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $304.41.

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.