Good Life Advisors LLC Reduces Stock Holdings in McDonald’s Corporation $MCD
by Scott Moore · The Cerbat GemGood Life Advisors LLC lessened its stake in McDonald’s Corporation (NYSE:MCD – Free Report) by 27.8% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 9,083 shares of the fast-food giant’s stock after selling 3,492 shares during the period. Good Life Advisors LLC’s holdings in McDonald’s were worth $2,654,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also recently made changes to their positions in the company. First American Trust FSB lifted its position in McDonald’s by 55.9% in the first quarter. First American Trust FSB now owns 36,917 shares of the fast-food giant’s stock valued at $11,532,000 after purchasing an additional 13,234 shares during the period. Banque Transatlantique SA raised its stake in shares of McDonald’s by 58.0% during the 1st quarter. Banque Transatlantique SA now owns 248,826 shares of the fast-food giant’s stock worth $71,829,000 after buying an additional 91,313 shares during the last quarter. Hamilton Capital LLC lifted its holdings in shares of McDonald’s by 35.2% in the first quarter. Hamilton Capital LLC now owns 3,145 shares of the fast-food giant’s stock valued at $982,000 after purchasing an additional 819 shares in the last quarter. Welch Group LLC grew its holdings in McDonald’s by 1.1% during the 2nd quarter. Welch Group LLC now owns 206,004 shares of the fast-food giant’s stock valued at $60,188,000 after buying an additional 2,180 shares during the last quarter. Finally, Banque Cantonale Vaudoise purchased a new stake in McDonald’s during the 1st quarter worth about $8,444,000. 70.29% of the stock is owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other McDonald’s news, EVP Manuel Jm Steijaert sold 13,134 shares of the firm’s stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $300.42, for a total transaction of $3,945,716.28. Following the completion of the transaction, the executive vice president directly owned 4,606 shares of the company’s stock, valued at $1,383,734.52. This trade represents a 74.04% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CMO Edith Morgan Flatley sold 1,000 shares of the firm’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $315.00, for a total value of $315,000.00. Following the transaction, the chief marketing officer owned 6,858 shares in the company, valued at $2,160,270. This trade represents a 12.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 15,134 shares of company stock worth $4,570,716 in the last three months. 0.25% of the stock is owned by insiders.
McDonald’s Stock Up 0.2%
MCD opened at $307.43 on Thursday. The firm’s 50 day moving average is $303.72 and its 200-day moving average is $304.76. McDonald’s Corporation has a 52-week low of $276.53 and a 52-week high of $326.32. The firm has a market capitalization of $218.94 billion, a P/E ratio of 26.29, a P/E/G ratio of 3.23 and a beta of 0.50.
McDonald’s (NYSE:MCD – Get Free Report) last released its quarterly earnings results on Wednesday, November 5th. The fast-food giant reported $3.22 earnings per share for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.11). McDonald’s had a net margin of 32.21% and a negative return on equity of 225.52%. The firm had revenue of $7.08 billion for the quarter, compared to analyst estimates of $7.10 billion. During the same period in the previous year, the business posted $3.23 earnings per share. McDonald’s’s revenue for the quarter was up 3.0% on a year-over-year basis. Equities analysts expect that McDonald’s Corporation will post 12.25 earnings per share for the current fiscal 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 dividend of $1.86 per share. This is a boost from McDonald’s’s previous quarterly dividend of $1.77. The ex-dividend date is Monday, December 1st. This represents a $7.44 dividend on an annualized basis and a yield of 2.4%. McDonald’s’s payout ratio is 63.48%.
Analyst Ratings Changes
A number of research analysts have weighed in on the company. KeyCorp reissued an “overweight” rating and set a $335.00 price target on shares of McDonald’s in a research note on Monday, October 20th. JPMorgan Chase & Co. increased their target price on McDonald’s from $305.00 to $310.00 and gave the stock an “overweight” rating in a research report on Thursday, August 7th. BTIG Research reissued a “neutral” rating on shares of McDonald’s in a research note on Friday, October 24th. Guggenheim dropped their price objective on shares of McDonald’s from $310.00 to $295.00 and set a “neutral” rating for the company in a research note on Friday, October 10th. Finally, Evercore ISI increased their price objective on shares of McDonald’s from $350.00 to $360.00 and gave the stock an “outperform” rating in a report on Friday, August 8th. Eleven analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $323.91.
Read Our Latest Stock Analysis on MCD
About McDonald’s
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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