McDonald’s Corporation $MCD Shares Sold by Schmidt P J Investment Management Inc.

Schmidt P J Investment Management Inc. reduced its stake in McDonald’s Corporation (NYSE:MCD) by 1.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 28,524 shares of the fast-food giant’s stock after selling 371 shares during the quarter. McDonald’s accounts for 1.4% of Schmidt P J Investment Management Inc.’s investment portfolio, making the stock its 20th largest position. Schmidt P J Investment Management Inc.’s holdings in McDonald’s were worth $8,334,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in MCD. HFM Investment Advisors LLC acquired a new position in shares of McDonald’s in the 1st quarter worth approximately $26,000. Nova Wealth Management Inc. acquired a new position in shares of McDonald’s in the 1st quarter worth approximately $26,000. GFG Capital LLC acquired a new position in shares of McDonald’s in the 2nd quarter worth approximately $29,000. Abound Financial LLC acquired a new position in shares of McDonald’s in the 1st quarter worth approximately $30,000. Finally, Redmont Wealth Advisors LLC acquired a new position in shares of McDonald’s in the 1st quarter worth approximately $31,000. 70.29% of the stock is currently owned by institutional investors and hedge funds.

McDonald’s Trading Down 0.3%

Shares of NYSE:MCD opened at $306.05 on Monday. McDonald’s Corporation has a 52 week low of $276.53 and a 52 week high of $326.32. The company’s 50 day moving average is $306.49 and its two-hundred day moving average is $305.67. The company 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 announced its quarterly earnings data on Wednesday, August 6th. The fast-food giant reported $3.19 EPS for the quarter, beating analysts’ consensus estimates of $3.15 by $0.04. McDonald’s had a net margin of 32.21% and a negative return on equity of 225.52%. The company had revenue of $6.84 billion for the quarter, compared to the consensus estimate of $6.68 billion. During the same period in the prior year, the firm posted $2.97 EPS. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. As a group, equities research analysts expect that McDonald’s Corporation will post 12.25 EPS for the current year.

McDonald’s Increases Dividend

The company 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 of this dividend is Monday, December 1st. This represents a $7.44 dividend on an annualized basis and a dividend 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%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on MCD shares. Royal Bank Of Canada started coverage on shares of McDonald’s in a report on Wednesday, October 8th. They set a “sector perform” rating and a $320.00 target price on the stock. Evercore ISI increased their target price on shares of McDonald’s from $350.00 to $360.00 and gave the stock an “outperform” rating in a report on Friday, August 8th. Melius started coverage on shares of McDonald’s in a report on Monday, July 14th. They set a “sell” rating and a $250.00 target price on the stock. Barclays increased their target price on shares of McDonald’s from $360.00 to $362.00 and gave the stock an “overweight” rating in a report on Wednesday, October 22nd. Finally, BMO Capital Markets increased their target price on shares of McDonald’s from $350.00 to $360.00 and gave the stock an “outperform” rating in a report on Thursday, September 4th. Eleven equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $324.50.

Insider Buying and Selling at McDonald’s

In related news, EVP Desiree Ralls-Morrison sold 2,487 shares of the stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $310.00, for a total value of $770,970.00. Following the transaction, the executive vice president directly owned 8,754 shares of the company’s stock, valued at $2,713,740. This trade represents a 22.12% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CMO Edith Morgan Flatley sold 1,000 shares of the stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $315.00, for a total transaction of $315,000.00. Following the completion of the transaction, the chief marketing officer directly owned 6,858 shares in the company, valued at $2,160,270. This trade represents a 12.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,463 shares of company stock valued at $1,692,186. Insiders own 0.25% of the company’s stock.

About McDonald’s

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.