Robertson Stephens Wealth Management LLC Has $3.14 Million Stake in McDonald’s Corporation (NYSE:MCD)

Robertson Stephens Wealth Management LLC lowered its stake in McDonald’s Corporation (NYSE:MCD) by 3.9% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,056 shares of the fast-food giant’s stock after selling 408 shares during the quarter. Robertson Stephens Wealth Management LLC’s holdings in McDonald’s were worth $3,141,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Norges Bank acquired a new position in shares of McDonald’s during the fourth quarter valued at about $2,725,190,000. GAMMA Investing LLC grew its stake in shares of McDonald’s by 39,039.7% in the 1st quarter. GAMMA Investing LLC now owns 3,497,919 shares of the fast-food giant’s stock valued at $1,092,645,000 after buying an additional 3,488,982 shares during the period. Raymond James Financial Inc. bought a new stake in McDonald’s in the 4th quarter valued at about $703,074,000. Castlekeep Investment Advisors LLC acquired a new position in McDonald’s during the 4th quarter worth approximately $350,935,000. Finally, Northern Trust Corp raised its stake in McDonald’s by 11.2% during the 4th quarter. Northern Trust Corp now owns 8,867,193 shares of the fast-food giant’s stock worth $2,570,511,000 after buying an additional 895,896 shares during the period. Institutional investors and hedge funds own 70.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on MCD shares. Robert W. Baird boosted their price objective on McDonald’s from $300.00 to $315.00 and gave the company a “neutral” rating in a report on Friday, May 2nd. Northcoast Research downgraded shares of McDonald’s from a “buy” rating to a “neutral” rating in a research report on Tuesday, May 6th. BTIG Research restated a “neutral” rating on shares of McDonald’s in a research note on Tuesday, April 22nd. Redburn Atlantic restated a “sell” rating and set a $260.00 price objective (down previously from $319.00) on shares of McDonald’s in a report on Tuesday, June 10th. Finally, Citigroup lifted their price objective on shares of McDonald’s from $353.00 to $364.00 and gave the company a “buy” rating in a report on Friday, May 2nd. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, McDonald’s presently has a consensus rating of “Hold” and a consensus price target of $321.79.

Insider Buying and Selling

In related news, insider Joseph M. Erlinger sold 939 shares of McDonald’s stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $315.07, for a total value of $295,850.73. Following the completion of the transaction, the insider now directly owns 11,161 shares in the company, valued at approximately $3,516,496.27. The trade was a 7.76% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.25% of the stock is currently owned by insiders.

McDonald’s Stock Down 1.3%

McDonald’s stock opened at $292.35 on Wednesday. The firm has a 50 day moving average price of $311.66 and a 200-day moving average price of $302.95. McDonald’s Corporation has a twelve month low of $243.53 and a twelve month high of $326.32. The company has a market capitalization of $209.04 billion, a P/E ratio of 25.80, a P/E/G ratio of 3.09 and a beta of 0.56.

McDonald’s (NYSE:MCD) last posted its quarterly earnings data on Thursday, May 1st. The fast-food giant reported $2.67 EPS for the quarter, meeting the consensus estimate of $2.67. McDonald’s had a negative return on equity of 195.27% and a net margin of 31.75%. The business had revenue of $5.96 billion for the quarter, compared to the consensus estimate of $6.17 billion. During the same quarter in the prior year, the business earned $2.70 earnings per share. McDonald’s’s revenue for the quarter was down 3.5% on a year-over-year basis. Equities analysts expect that McDonald’s Corporation will post 12.25 EPS for the current fiscal year.

McDonald’s Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were paid a dividend of $1.77 per share. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $7.08 annualized dividend and a dividend yield of 2.42%. McDonald’s’s payout ratio is 62.49%.

McDonald’s Profile

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.