Meeder Asset Management Inc. Sells 2,389 Shares of McDonald’s Co. (NYSE:MCD)

Meeder Asset Management Inc. lowered its stake in McDonald’s Co. (NYSE:MCD) by 80.1% during the second quarter, Holdings Channel reports. The firm owned 594 shares of the fast-food giant’s stock after selling 2,389 shares during the period. Meeder Asset Management Inc.’s holdings in McDonald’s were worth $151,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of MCD. Dixon Mitchell Investment Counsel Inc. acquired a new position in shares of McDonald’s in the 1st quarter valued at approximately $28,000. Clear Investment Research LLC bought a new position in shares of McDonald’s in the 4th quarter valued at $38,000. Kings Path Partners LLC acquired a new position in shares of McDonald’s during the 2nd quarter worth $38,000. Atlantic Edge Private Wealth Management LLC bought a new stake in shares of McDonald’s during the 4th quarter worth $39,000. Finally, Accent Capital Management LLC acquired a new stake in McDonald’s in the fourth quarter valued at about $44,000. Institutional investors and hedge funds own 70.29% of the company’s stock.

McDonald’s Stock Performance

Shares of NYSE:MCD opened at $296.55 on Friday. McDonald’s Co. has a fifty-two week low of $243.53 and a fifty-two week high of $302.39. The company’s 50-day moving average is $272.89 and its 200 day moving average is $270.80. The company has a market capitalization of $213.72 billion, a P/E ratio of 25.17, a price-to-earnings-growth ratio of 3.88 and a beta of 0.72.

McDonald’s (NYSE:MCD) last posted its quarterly earnings results on Monday, July 29th. The fast-food giant reported $2.97 EPS for the quarter, missing analysts’ consensus estimates 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 company 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 firm posted $3.17 EPS. The company’s revenue for the quarter was down .1% compared to the same quarter last year. As a group, research analysts predict that McDonald’s Co. will post 11.67 earnings per share for the current year.

McDonald’s Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be paid a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date of this dividend is Tuesday, September 3rd. McDonald’s’s dividend payout ratio is currently 56.71%.

Insiders Place Their Bets

In other McDonald’s news, EVP Marion K. Gross sold 1,498 shares of the business’s stock in a transaction 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 sale, the executive vice president now owns 1,560 shares of the company’s stock, valued at approximately $387,285.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other McDonald’s news, EVP Marion K. Gross sold 1,498 shares of the firm’s stock in a transaction on 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 directly owns 1,560 shares of the company’s stock, valued at approximately $387,285.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Joseph M. Erlinger sold 1,099 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $260.00, for a total value of $285,740.00. Following the transaction, the insider now directly owns 13,681 shares of the company’s stock, valued at approximately $3,557,060. The disclosure for this sale can be found here. Insiders sold 6,291 shares of company stock worth $1,689,073 over the last quarter. 0.23% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on MCD shares. KeyCorp dropped their target price on shares of McDonald’s from $310.00 to $305.00 and set an “overweight” rating for the company in a report on Tuesday, July 30th. Evercore ISI upped their price target on shares of McDonald’s from $300.00 to $320.00 and gave the stock an “outperform” rating in a report on Monday, August 19th. JPMorgan Chase & Co. reduced their price objective on McDonald’s from $290.00 to $270.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 30th. Bank of America cut their price target on McDonald’s from $288.00 to $278.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on shares of McDonald’s from $295.00 to $290.00 and set a “buy” rating on the stock in a research 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 stock. According to MarketBeat.com, McDonald’s presently has an average rating of “Moderate Buy” and a consensus price target of $305.37.

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.