Raab & Moskowitz Asset Management LLC Sells 74 Shares of McDonald’s Co. (NYSE:MCD)

Raab & Moskowitz Asset Management LLC cut its holdings in McDonald’s Co. (NYSE:MCD) by 0.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,870 shares of the fast-food giant’s stock after selling 74 shares during the quarter. Raab & Moskowitz Asset Management LLC’s holdings in McDonald’s were worth $2,770,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Dixon Mitchell Investment Counsel Inc. purchased a new position in shares of McDonald’s in the first quarter worth $28,000. Kings Path Partners LLC bought a new stake in McDonald’s during the second quarter valued at about $38,000. Accent Capital Management LLC purchased a new stake in McDonald’s in the 4th quarter worth approximately $44,000. Transcendent Capital Group LLC bought a new stake in shares of McDonald’s during the 4th quarter valued at $45,000. Finally, Keener Financial Planning LLC raised its holdings in McDonald’s by 32.3% during the first quarter. Keener Financial Planning LLC now owns 176 shares of the fast-food giant’s stock valued at $50,000 after acquiring an additional 43 shares during the period. 70.29% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have commented on MCD. Barclays dropped their price objective on shares of McDonald’s from $320.00 to $300.00 and set an “overweight” rating for the company in a report on Tuesday, July 30th. Jefferies Financial Group upped their price target on shares of McDonald’s from $310.00 to $330.00 and gave the company a “buy” rating in a report on Monday, September 9th. TD Cowen reiterated a “hold” rating and set a $280.00 target price on shares of McDonald’s in a research report on Monday, September 23rd. BMO Capital Markets lowered their price target on McDonald’s from $330.00 to $315.00 and set an “outperform” rating for the company in a report on Tuesday, July 30th. Finally, Wedbush restated an “outperform” rating and issued a $295.00 price target on shares of McDonald’s in a report on Monday, July 29th. Eleven analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $308.22.

McDonald’s Stock Performance

McDonald’s stock opened at $303.69 on Friday. The company has a market cap of $218.86 billion, a price-to-earnings ratio of 25.78, a PEG ratio of 3.99 and a beta of 0.72. McDonald’s Co. has a 1 year low of $243.53 and a 1 year high of $306.96. The firm has a 50 day moving average price of $281.71 and a 200 day moving average price of $271.18.

McDonald’s (NYSE:MCD) last announced its quarterly earnings results on Monday, July 29th. The fast-food giant reported $2.97 earnings per share for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.10). The business had revenue of $6.49 billion for the quarter, compared to analyst estimates of $6.62 billion. McDonald’s had a net margin of 32.25% and a negative return on equity of 178.68%. The company’s quarterly revenue was down .1% on a year-over-year basis. During the same period last year, the firm earned $3.17 earnings per share. Sell-side analysts predict that McDonald’s Co. will post 11.69 EPS for the current year.

McDonald’s Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a dividend of $1.77 per share. This represents a $7.08 dividend on an annualized basis and a yield of 2.33%. This is a positive change from McDonald’s’s previous quarterly dividend of $1.67. The ex-dividend date of this dividend is Monday, December 2nd. McDonald’s’s dividend payout ratio (DPR) is presently 56.71%.

Insiders Place Their Bets

In other McDonald’s news, CEO Christopher J. Kempczinski sold 11,727 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $300.03, for a total transaction of $3,518,451.81. Following the completion of the sale, the chief executive officer now owns 49,885 shares in the company, valued at approximately $14,966,996.55. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other McDonald’s news, CEO Christopher J. Kempczinski sold 9,291 shares of the stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $305.00, for a total transaction of $2,833,755.00. Following the transaction, the chief executive officer now owns 43,256 shares of the company’s stock, valued at approximately $13,193,080. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Christopher J. Kempczinski sold 11,727 shares of McDonald’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $300.03, for a total transaction of $3,518,451.81. Following the completion of the transaction, the chief executive officer now directly owns 49,885 shares of the company’s stock, valued at $14,966,996.55. The disclosure for this sale can be found here. Insiders have sold 33,249 shares of company stock worth $9,865,866 in the last quarter. 0.23% of the stock is 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.