Cahaba Wealth Management Inc. Sells 73 Shares of McDonald’s Co. (NYSE:MCD)

Cahaba Wealth Management Inc. cut its holdings in McDonald’s Co. (NYSE:MCD) by 2.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,130 shares of the fast-food giant’s stock after selling 73 shares during the period. Cahaba Wealth Management Inc.’s holdings in McDonald’s were worth $798,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Aigen Investment Management LP acquired a new position in McDonald’s in the fourth quarter valued at approximately $4,286,000. Strait & Sound Wealth Management LLC bought a new position in McDonald’s during the fourth quarter worth $211,000. Hantz Financial Services Inc. acquired a new stake in McDonald’s in the second quarter worth $6,612,000. California State Teachers Retirement System grew its holdings in McDonald’s by 1.4% in the fourth quarter. California State Teachers Retirement System now owns 1,180,928 shares of the fast-food giant’s stock worth $350,157,000 after purchasing an additional 15,863 shares during the period. Finally, Keystone Financial Group increased its stake in McDonald’s by 5.9% in the fourth quarter. Keystone Financial Group now owns 8,995 shares of the fast-food giant’s stock valued at $2,667,000 after purchasing an additional 499 shares in the last quarter. 70.29% of the stock is owned by institutional investors and hedge funds.

McDonald’s Price Performance

NYSE:MCD opened at $289.58 on Friday. McDonald’s Co. has a one year low of $243.53 and a one year high of $302.39. The firm has a market capitalization of $208.70 billion, a price-to-earnings ratio of 24.58, a price-to-earnings-growth ratio of 3.86 and a beta of 0.72. The business has a fifty day moving average price of $268.64 and a 200-day moving average price of $270.91.

McDonald’s (NYSE:MCD) last posted its 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). The firm had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.62 billion. McDonald’s had a net margin of 32.25% and a negative return on equity of 178.68%. The firm’s revenue was down .1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.17 earnings per share. On average, equities research analysts expect that McDonald’s Co. will post 11.67 earnings per share for the current fiscal year.

McDonald’s Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be issued a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date of this dividend is Tuesday, September 3rd. McDonald’s’s payout ratio is presently 56.71%.

Analysts Set New Price Targets

Several analysts have recently commented on MCD shares. Barclays reduced their target price on McDonald’s from $320.00 to $300.00 and set an “overweight” rating for the company in a research note on Tuesday, July 30th. Bank of America reduced their price objective on McDonald’s from $288.00 to $278.00 and set a “neutral” rating for the company in a research note on Tuesday, July 30th. KeyCorp lowered their target price on McDonald’s from $310.00 to $305.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 30th. JPMorgan Chase & Co. cut their target price on McDonald’s from $290.00 to $270.00 and set an “overweight” rating on the stock in a report on Tuesday, July 30th. Finally, Jefferies Financial Group decreased their price target on shares of McDonald’s from $320.00 to $310.00 and set a “buy” rating for the company in a research note on Monday, July 29th. Eleven investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $303.89.

Insiders Place Their Bets

In related news, insider Joseph M. Erlinger sold 1,098 shares of the firm’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $260.00, for a total transaction of $285,480.00. Following the sale, the insider now owns 14,780 shares of the company’s stock, valued at $3,842,800. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider Joseph M. Erlinger sold 1,098 shares of the stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $260.00, for a total value of $285,480.00. Following the completion of the transaction, the insider now directly owns 14,780 shares of the company’s stock, valued at approximately $3,842,800. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Joseph M. Erlinger sold 1,099 shares of the company’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $260.00, for a total transaction of $285,740.00. Following the completion of the sale, the insider now directly owns 13,681 shares in the company, valued at $3,557,060. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,291 shares of company stock worth $1,689,073. 0.23% of the stock is currently owned by company insiders.

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.