Cadinha & Co. LLC Sells 35,656 Shares of McDonald's Corporation $MCD

Key Points

• Cadinha & Co. LLC reduced its holdings in McDonald's Corporation (NYSE:MCD) by 81.2% in the second quarter, selling 35,656 shares and leaving them with just 8,266 shares valued at approximately $2.4 million.
• McDonald's announced a dividend increase, raising its quarterly payout from $1.77 to $1.86, representing an annualized yield of 2.4% and a payout ratio of 60.67%.
• The company's latest earnings report showed a net revenue increase of 5.4%, reaching $6.84 billion and exceeding analysts' expectations, with earnings per share at $3.19 compared to the consensus estimate of $3.15.

Cadinha & Co. LLC decreased its position in McDonald's Corporation (NYSE:MCD - Free Report) by 81.2% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 8,266 shares of the fast-food giant's stock after selling 35,656 shares during the period. Cadinha & Co. LLC's holdings in McDonald's were worth $2,415,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Brighton Jones LLC boosted its stake in shares of McDonald's by 21.6% during the 4th quarter. Brighton Jones LLC now owns 9,286 shares of the fast-food giant's stock worth $2,692,000 after buying an additional 1,649 shares during the last quarter. Revolve Wealth Partners LLC raised its holdings in McDonald's by 2.8% during the fourth quarter. Revolve Wealth Partners LLC now owns 1,942 shares of the fast-food giant's stock worth $563,000 after acquiring an additional 52 shares in the last quarter. Quotient Wealth Partners LLC boosted its position in McDonald's by 10.9% during the first quarter. Quotient Wealth Partners LLC now owns 2,616 shares of the fast-food giant's stock valued at $817,000 after purchasing an additional 258 shares during the last quarter. SSA Swiss Advisors AG bought a new position in McDonald's in the first quarter valued at approximately $175,000. Finally, GAMMA Investing LLC increased its position in shares of McDonald's by 25.3% during the 1st quarter. GAMMA Investing LLC now owns 11,198 shares of the fast-food giant's stock worth $3,498,000 after purchasing an additional 2,261 shares during the last quarter. 70.29% of the stock is owned by institutional investors.

McDonald's Stock Up 1.0%

Shares of MCD stock opened at $310.42 on Thursday. McDonald's Corporation has a 12-month low of $276.53 and a 12-month high of $326.32. The company has a market capitalization of $221.51 billion, a PE ratio of 26.64, a price-to-earnings-growth ratio of 3.25 and a beta of 0.50. The firm has a 50 day moving average price of $306.58 and a two-hundred day moving average price of $305.51.

McDonald's (NYSE:MCD - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share for the quarter, topping the consensus estimate of $3.15 by $0.04. McDonald's had a negative return on equity of 225.52% and a net margin of 32.21%.The firm had revenue of $6.84 billion for the quarter, compared to analysts' expectations of $6.68 billion. During the same quarter last year, the business earned $2.97 EPS. The company's quarterly revenue was up 5.4% compared to the same quarter last year. As a group, research analysts expect that McDonald's Corporation will post 12.25 EPS for the current year.

McDonald's Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be paid a $1.86 dividend. This is a positive change from McDonald's's previous quarterly dividend of $1.77. The ex-dividend date is Monday, December 1st. This represents a $7.44 annualized dividend and a yield of 2.4%. McDonald's's dividend payout ratio is presently 60.67%.

Insider Buying and Selling at McDonald's

In other McDonald's news, EVP Jonathan Banner sold 1,000 shares of the stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $310.00, for a total transaction of $310,000.00. Following the transaction, the executive vice president owned 99 shares in the company, valued at $30,690. This represents a 90.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CMO Edith Morgan Flatley sold 1,000 shares of McDonald's stock in a transaction that occurred 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 sale, the chief marketing officer owned 6,858 shares of the company's stock, valued at approximately $2,160,270. The trade was a 12.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,463 shares of company stock valued at $1,692,186 in the last quarter. Company insiders own 0.25% of the company's stock.

Wall Street Analyst Weigh In

MCD has been the subject of several analyst reports. Royal Bank Of Canada assumed coverage on shares of McDonald's in a research note on Wednesday, October 8th. They issued a "sector perform" rating and a $320.00 target price for the company. Wells Fargo & Company decreased their price objective on shares of McDonald's from $350.00 to $340.00 and set an "overweight" rating for the company in a research report on Thursday, October 16th. TD Cowen upped their target price on shares of McDonald's from $305.00 to $315.00 and gave the company a "hold" rating in a report on Wednesday, August 6th. BMO Capital Markets lifted their price target on McDonald's from $350.00 to $360.00 and gave the stock an "outperform" rating in a report on Thursday, September 4th. Finally, Piper Sandler reissued a "neutral" rating and set a $325.00 price target on shares of McDonald's in a research report on Wednesday. Eleven investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $324.50.

McDonald's Profile

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.

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