New York Life Investment Management LLC Sells 10,505 Shares of McDonald’s Co. (NYSE:MCD)

New York Life Investment Management LLC reduced its holdings in McDonald’s Co. (NYSE:MCD) by 9.6% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 99,381 shares of the fast-food giant’s stock after selling 10,505 shares during the quarter. New York Life Investment Management LLC’s holdings in McDonald’s were worth $25,326,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Concentric Wealth Management LLC lifted its position in shares of McDonald’s by 1.4% during the 4th quarter. Concentric Wealth Management LLC now owns 2,551 shares of the fast-food giant’s stock valued at $756,000 after acquiring an additional 35 shares during the period. FinTrust Capital Advisors LLC raised its holdings in shares of McDonald’s by 2.9% during the fourth quarter. FinTrust Capital Advisors LLC now owns 1,268 shares of the fast-food giant’s stock valued at $376,000 after purchasing an additional 36 shares during the period. 9258 Wealth Management LLC boosted its position in shares of McDonald’s by 1.3% during the 1st quarter. 9258 Wealth Management LLC now owns 2,833 shares of the fast-food giant’s stock worth $799,000 after purchasing an additional 37 shares in the last quarter. MTM Investment Management LLC grew its stake in shares of McDonald’s by 3.3% in the 1st quarter. MTM Investment Management LLC now owns 1,174 shares of the fast-food giant’s stock valued at $331,000 after buying an additional 38 shares during the period. Finally, Weatherly Asset Management L. P. grew its stake in shares of McDonald’s by 0.9% in the 1st quarter. Weatherly Asset Management L. P. now owns 4,378 shares of the fast-food giant’s stock valued at $1,234,000 after buying an additional 38 shares during the period. 70.29% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have issued reports on MCD shares. TD Cowen lowered McDonald’s from a “buy” rating to a “hold” rating and cut their price target for the stock from $285.00 to $280.00 in a report on Wednesday, July 31st. Citigroup cut their target price on McDonald’s from $280.00 to $275.00 and set a “neutral” rating on the stock in a report on Tuesday, July 30th. Wedbush reissued an “outperform” rating and issued a $295.00 price target on shares of McDonald’s in a research report on Monday, July 29th. Bank of America lowered their price objective on shares of McDonald’s from $288.00 to $278.00 and set a “neutral” rating on the stock in a report on Tuesday, July 30th. Finally, Evercore ISI lifted their price objective on shares of McDonald’s from $300.00 to $320.00 and gave the company an “outperform” rating in a report on Monday, August 19th. Eleven analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $303.89.

Insider Activity

In related news, insider Joseph M. Erlinger sold 1,098 shares of McDonald’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $260.00, for a total value of $285,480.00. Following the completion of the sale, the insider now owns 14,780 shares of the company’s stock, valued at approximately $3,842,800. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, EVP Marion K. Gross sold 1,498 shares of the company’s stock in a transaction that occurred 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 sale, the executive vice president now directly owns 1,560 shares in the company, valued at approximately $446,721.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Joseph M. Erlinger sold 1,098 shares of the firm’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $260.00, for a total transaction of $285,480.00. Following the completion of the transaction, the insider now directly owns 14,780 shares of the company’s stock, valued at $3,842,800. The disclosure for this sale can be found here. Insiders have sold 6,291 shares of company stock valued at $1,689,073 in the last 90 days. Insiders own 0.23% of the company’s stock.

McDonald’s Stock Performance

NYSE MCD opened at $289.58 on Friday. The company has a market capitalization of $208.70 billion, a PE ratio of 24.58, a price-to-earnings-growth ratio of 3.86 and a beta of 0.72. McDonald’s Co. has a 52-week low of $243.53 and a 52-week high of $302.39. The company has a 50-day simple moving average of $268.64 and a 200 day simple moving average of $270.91.

McDonald’s (NYSE:MCD) last issued 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 negative return on equity of 178.68% and a net margin of 32.25%. The company 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 business earned $3.17 EPS. The company’s revenue for the quarter was down .1% on a year-over-year basis. As a group, analysts forecast that McDonald’s Co. will post 11.67 EPS for the current fiscal year.

McDonald’s Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be given a dividend of $1.67 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.31%. McDonald’s’s dividend payout ratio is presently 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.