Cadence Capital Management LLC Sells 1,504 Shares of McDonald's Co. (MCD)

Cadence Capital Management LLC cut its holdings in McDonald's Co. (NYSE:MCD) by 2.0% during the fourth quarter, Holdings Channel reports. The fund owned 72,800 shares of the fast-food giant’s stock after selling 1,504 shares during the period. McDonald's comprises about 0.8% of Cadence Capital Management LLC’s holdings, making the stock its 25th largest holding. Cadence Capital Management LLC’s holdings in McDonald's were worth $12,530,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the business. Acrospire Investment Management LLC bought a new position in shares of McDonald's during the second quarter worth $153,000. Beach Investment Management LLC. bought a new position in shares of McDonald's during the second quarter worth $296,000. Todd Asset Management LLC boosted its position in shares of McDonald's by 1,013.6% during the second quarter. Todd Asset Management LLC now owns 120,775 shares of the fast-food giant’s stock worth $18,498,000 after purchasing an additional 109,930 shares in the last quarter. Condor Capital Management bought a new position in shares of McDonald's during the second quarter worth $206,000. Finally, Cim LLC boosted its position in shares of McDonald's by 1.2% during the second quarter. Cim LLC now owns 2,065 shares of the fast-food giant’s stock worth $316,000 after purchasing an additional 25 shares in the last quarter. 68.51% of the stock is currently owned by hedge funds and other institutional investors.

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In other news, insider Douglas M. Goare sold 34,575 shares of McDonald's stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $173.53, for a total value of $5,999,799.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Catherine A. Hoovel sold 1,398 shares of McDonald's stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $170.54, for a total transaction of $238,414.92. Following the completion of the transaction, the vice president now directly owns 1,398 shares of the company’s stock, valued at approximately $238,414.92. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by insiders.

A number of brokerages have recently weighed in on MCD. ValuEngine cut shares of McDonald's from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Goldman Sachs set a $180.00 price target on shares of McDonald's and gave the stock a “buy” rating in a research report on Tuesday, December 12th. JPMorgan Chase & Co. reissued a “buy” rating and set a $182.00 price target on shares of McDonald's in a research report on Monday, March 12th. Barclays reduced their price target on shares of McDonald's from $205.00 to $200.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 31st. Finally, Credit Suisse Group reissued an “outperform” rating and set a $191.00 price target (up from $185.00) on shares of McDonald's in a research report on Tuesday, January 23rd. Nine equities research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. McDonald's has a consensus rating of “Buy” and a consensus target price of $182.55.

Shares of McDonald's Co. (NYSE MCD) opened at $154.98 on Monday. The company has a debt-to-equity ratio of -9.04, a current ratio of 1.84 and a quick ratio of 1.82. McDonald's Co. has a 52 week low of $128.60 and a 52 week high of $178.70. The stock has a market cap of $123,131.30, a price-to-earnings ratio of 24.37, a price-to-earnings-growth ratio of 2.34 and a beta of 0.65.

McDonald's (NYSE:MCD) last issued its quarterly earnings results on Tuesday, January 30th. The fast-food giant reported $1.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.59 by $0.12. McDonald's had a net margin of 22.75% and a negative return on equity of 201.76%. The firm had revenue of $5.34 billion for the quarter, compared to analyst estimates of $5.22 billion. During the same period in the previous year, the business earned $1.44 EPS. The company’s revenue was down 11.4% compared to the same quarter last year. equities research analysts anticipate that McDonald's Co. will post 7.59 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 15th. Shareholders of record on Thursday, March 1st were paid a $1.01 dividend. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $4.04 annualized dividend and a yield of 2.61%. McDonald's’s payout ratio is currently 63.52%.

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McDonald's Company Profile

McDonald’s Corporation (McDonald’s) operates and franchises McDonald’s restaurants. The Company’s restaurants serve a locally relevant menu of food and drinks sold at various price points in over 100 countries. The Company’s segments include U.S., International Lead Markets, High Growth Markets, and Foundational Markets and Corporate.

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Institutional Ownership by Quarter for McDonald's (NYSE:MCD)

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