Boltwood Capital Management Sells 60 Shares of McDonald’s Corporation $MCD

Boltwood Capital Management decreased its stake in shares of McDonald’s Corporation (NYSE:MCD) by 3.0% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,925 shares of the fast-food giant’s stock after selling 60 shares during the quarter. Boltwood Capital Management’s holdings in McDonald’s were worth $562,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Mascagni Wealth Management Inc. bought a new position in shares of McDonald’s during the fourth quarter worth $25,000. HFM Investment Advisors LLC bought a new position in McDonald’s during the first quarter valued at $26,000. Nova Wealth Management Inc. bought a new position in McDonald’s during the first quarter valued at $26,000. Pinney & Scofield Inc. bought a new position in McDonald’s during the fourth quarter valued at $29,000. Finally, Abound Financial LLC bought a new position in McDonald’s during the first quarter valued at $30,000. Institutional investors own 70.29% of the company’s stock.

Wall Street Analyst Weigh In

MCD has been the subject of several research reports. Barclays increased their price objective on shares of McDonald’s from $355.00 to $360.00 and gave the company an “overweight” rating in a research report on Thursday, August 7th. TD Securities reiterated a “hold” rating and set a $305.00 price objective on shares of McDonald’s in a research report on Thursday, June 5th. Redburn Atlantic reiterated a “sell” rating and set a $260.00 price objective (down previously from $319.00) on shares of McDonald’s in a research report on Tuesday, June 10th. Piper Sandler increased their price objective on shares of McDonald’s from $314.00 to $325.00 and gave the company a “neutral” rating in a research report on Thursday, August 7th. Finally, Evercore ISI raised their target price 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, fourteen have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $325.14.

Insider Activity at McDonald’s

In related news, EVP Jonathan Banner sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $310.00, for a total value of $310,000.00. Following the transaction, the executive vice president owned 99 shares of the company’s stock, valued at $30,690. This trade represents a 90.99% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Desiree Ralls-Morrison sold 2,487 shares of the firm’s stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $310.00, for a total transaction of $770,970.00. Following the completion of the transaction, the executive vice president directly owned 8,754 shares in the company, valued at $2,713,740. This represents a 22.12% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 8,341 shares of company stock worth $2,544,327. 0.25% of the stock is currently owned by corporate insiders.

McDonald’s Trading Down 1.0%

McDonald’s stock opened at $305.49 on Monday. The firm has a 50-day moving average price of $305.33 and a 200-day moving average price of $306.57. The firm has a market capitalization of $218.00 billion, a PE ratio of 26.18, a price-to-earnings-growth ratio of 3.11 and a beta of 0.49. McDonald’s Corporation has a 12-month low of $276.53 and a 12-month high of $326.32.

McDonald’s (NYSE:MCD) last released its earnings results on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.15 by $0.04. The firm had revenue of $6.84 billion during the quarter, compared to analyst estimates of $6.68 billion. McDonald’s had a net margin of 32.21% and a negative return on equity of 225.52%. The business’s revenue was up 5.4% on a year-over-year basis. During the same quarter last year, the business earned $2.97 EPS. As a group, sell-side analysts predict that McDonald’s Corporation will post 12.25 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 16th. Investors of record on Tuesday, September 2nd will be paid a $1.77 dividend. This represents a $7.08 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Tuesday, September 2nd. McDonald’s’s dividend payout ratio (DPR) is currently 60.67%.

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.