Elo Mutual Pension Insurance Co Sells 3,198 Shares of McDonald’s Co. (NYSE:MCD)

Elo Mutual Pension Insurance Co lowered its holdings in shares of McDonald’s Co. (NYSE:MCD) by 4.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,078 shares of the fast-food giant’s stock after selling 3,198 shares during the period. Elo Mutual Pension Insurance Co’s holdings in McDonald’s were worth $16,075,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of MCD. Dixon Mitchell Investment Counsel Inc. purchased a new stake in shares of McDonald’s in the 1st quarter worth approximately $28,000. Clear Investment Research LLC bought a new position in shares of McDonald’s during the fourth quarter valued at $38,000. Kings Path Partners LLC purchased a new position in shares of McDonald’s in the 2nd quarter worth about $38,000. Accent Capital Management LLC bought a new position in McDonald’s in the 4th quarter worth about $44,000. Finally, Transcendent Capital Group LLC purchased a new position in McDonald’s in the fourth quarter worth about $45,000. Institutional investors own 70.29% of the company’s stock.

McDonald’s Price Performance

Shares of MCD opened at $293.73 on Wednesday. The firm has a market capitalization of $211.69 billion, a price-to-earnings ratio of 24.93, a PEG ratio of 3.88 and a beta of 0.72. The company has a 50-day moving average of $274.83 and a 200 day moving average of $270.53. McDonald’s Co. has a 1-year low of $243.53 and a 1-year 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 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 firm had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $6.62 billion. During the same period last year, the company earned $3.17 EPS. The firm’s revenue for the quarter was down .1% compared to the same quarter last year. On average, equities analysts anticipate that McDonald’s Co. will post 11.67 earnings per share for the current fiscal year.

McDonald’s Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were given a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date was Tuesday, September 3rd. McDonald’s’s dividend payout ratio (DPR) is 56.71%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. JPMorgan Chase & Co. boosted their price objective on shares of McDonald’s from $270.00 to $290.00 and gave the stock an “overweight” rating in a report on Monday. Deutsche Bank Aktiengesellschaft reduced their price objective on McDonald’s from $295.00 to $290.00 and set a “buy” rating for the company in a report on Tuesday, July 30th. BMO Capital Markets lowered their target price on shares of McDonald’s from $330.00 to $315.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 30th. Stifel Nicolaus dropped their price target on shares of McDonald’s from $285.00 to $265.00 and set a “hold” rating on the stock in a report on Monday, July 22nd. Finally, Bank of America decreased their price objective on shares of McDonald’s from $288.00 to $278.00 and set a “neutral” rating for the company in a report on Tuesday, July 30th. 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 company presently has a consensus rating of “Moderate Buy” and an average target price of $306.11.

Insider Activity

In related news, EVP Marion K. Gross sold 1,498 shares of McDonald’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were 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 $387,285.60. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, insider Joseph M. Erlinger sold 1,098 shares of the company’s stock in a transaction 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 sale, the insider now directly owns 14,780 shares in the company, valued at approximately $3,842,800. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Marion K. Gross sold 1,498 shares of McDonald’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $248.26, for a total value of $371,893.48. Following the completion of the transaction, the executive vice president now owns 1,560 shares in the company, valued at approximately $387,285.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,291 shares of company stock worth $1,689,073. 0.23% of the stock is currently owned by corporate insiders.

McDonald’s Company Profile

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.