IMS Capital Management Sells 130 Shares of McDonald’s Co. (NYSE:MCD)

IMS Capital Management lowered its stake in shares of McDonald’s Co. (NYSE:MCD) by 4.2% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 2,951 shares of the fast-food giant’s stock after selling 130 shares during the period. IMS Capital Management’s holdings in McDonald’s were worth $899,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Legacy Investment Solutions LLC bought a new stake in McDonald’s during the third quarter worth about $25,000. RPg Family Wealth Advisory LLC purchased a new position in shares of McDonald’s during the 3rd quarter valued at about $31,000. Kings Path Partners LLC purchased a new stake in McDonald’s in the second quarter worth approximately $38,000. Hara Capital LLC bought a new position in McDonald’s during the third quarter valued at approximately $44,000. Finally, Peterson Financial Group Inc. purchased a new position in shares of McDonald’s during the third quarter worth approximately $58,000. 70.29% of the stock is owned by institutional investors.

Insider Transactions at McDonald’s

In other news, insider Joseph M. Erlinger sold 1,099 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $292.50, for a total value of $321,457.50. Following the completion of the transaction, the insider now owns 9,286 shares in the company, valued at $2,716,155. The trade was a 10.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Marion K. Gross sold 1,499 shares of the business’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $294.51, for a total value of $441,470.49. Following the completion of the transaction, the executive vice president now owns 1,560 shares of the company’s stock, valued at $459,435.60. This represents a 49.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 34,099 shares of company stock worth $10,273,786 over the last quarter. 0.23% of the stock is currently owned by insiders.

McDonald’s Trading Down 0.5 %

Shares of NYSE:MCD opened at $296.08 on Wednesday. McDonald’s Co. has a 12-month low of $243.53 and a 12-month high of $317.90. The stock has a market capitalization of $212.18 billion, a price-to-earnings ratio of 25.99, a PEG ratio of 3.94 and a beta of 0.73. The stock has a fifty day simple moving average of $298.71 and a two-hundred day simple moving average of $282.09.

McDonald’s (NYSE:MCD) last announced its quarterly earnings data on Tuesday, October 29th. The fast-food giant reported $3.23 EPS for the quarter, beating the consensus estimate of $3.18 by $0.05. McDonald’s had a net margin of 31.79% and a negative return on equity of 175.42%. The company had revenue of $6.87 billion for the quarter, compared to the consensus estimate of $6.82 billion. During the same period in the prior year, the firm posted $3.19 EPS. McDonald’s’s revenue for the quarter was up 2.7% on a year-over-year basis. As a group, equities research analysts predict that McDonald’s Co. will post 11.75 EPS for the current year.

McDonald’s Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were issued a $1.77 dividend. This is a positive change from McDonald’s’s previous quarterly dividend of $1.67. The ex-dividend date was Monday, December 2nd. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.39%. McDonald’s’s dividend payout ratio (DPR) is presently 62.16%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on MCD shares. Truist Financial reduced their target price on shares of McDonald’s from $350.00 to $342.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Loop Capital reiterated a “buy” rating on shares of McDonald’s in a report on Friday, October 18th. KeyCorp increased their target price on McDonald’s from $305.00 to $330.00 and gave the company an “overweight” rating in a report on Monday, October 7th. JPMorgan Chase & Co. lifted their price target on McDonald’s from $270.00 to $290.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. Finally, Morgan Stanley increased their price objective on McDonald’s from $296.00 to $340.00 and gave the company an “overweight” rating in a research note on Tuesday, October 15th. Twelve equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $320.50.

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.