Granite Bay Wealth Management LLC Reduces Stock Position in McDonald’s Corporation $MCD

Granite Bay Wealth Management LLC reduced its holdings in McDonald’s Corporation (NYSE:MCD) by 10.6% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 883 shares of the fast-food giant’s stock after selling 105 shares during the period. Granite Bay Wealth Management LLC’s holdings in McDonald’s were worth $258,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. First American Trust FSB boosted its stake in shares of McDonald’s by 55.9% during the 1st quarter. First American Trust FSB now owns 36,917 shares of the fast-food giant’s stock worth $11,532,000 after purchasing an additional 13,234 shares during the period. Banque Transatlantique SA boosted 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 purchasing an additional 91,313 shares during the period. Hamilton Capital LLC boosted its stake in shares of McDonald’s by 35.2% during the 1st quarter. Hamilton Capital LLC now owns 3,145 shares of the fast-food giant’s stock worth $982,000 after purchasing an additional 819 shares during the period. Red Door Wealth Management LLC boosted its stake in shares of McDonald’s by 1.9% during the 1st quarter. Red Door Wealth Management LLC now owns 5,724 shares of the fast-food giant’s stock worth $1,788,000 after purchasing an additional 109 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in shares of McDonald’s by 5.6% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 345,319 shares of the fast-food giant’s stock worth $107,867,000 after purchasing an additional 18,393 shares during the period. 70.29% of the stock is owned by hedge funds and other institutional investors.

McDonald’s Stock Down 1.0%

NYSE MCD opened at $305.49 on Monday. The firm has a market cap 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. The company has a 50 day moving average price of $305.33 and a 200 day moving average price of $306.57. McDonald’s Corporation has a 52 week low of $276.53 and a 52 week high of $326.32.

McDonald’s (NYSE:MCD) last posted its quarterly earnings data on Wednesday, August 6th. The fast-food giant reported $3.19 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%. McDonald’s’s revenue was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.97 EPS. On average, equities research analysts anticipate that McDonald’s Corporation will post 12.25 earnings per share for the current fiscal year.

McDonald’s Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd will be paid a dividend of $1.77 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $7.08 dividend on an annualized basis and a yield of 2.3%. McDonald’s’s dividend payout ratio is presently 60.67%.

Insider Activity at McDonald’s

In other McDonald’s news, EVP Desiree Ralls-Morrison sold 2,487 shares of the company’s stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $310.00, for a total transaction of $770,970.00. Following the transaction, the executive vice president owned 8,754 shares in the company, valued at approximately $2,713,740. This represents a 22.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CMO Edith Morgan Flatley sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $315.00, for a total transaction of $315,000.00. Following the transaction, the chief marketing officer owned 6,858 shares in the company, valued at $2,160,270. The trade was a 12.73% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 8,341 shares of company stock worth $2,544,327. 0.25% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on MCD shares. Melius started coverage on shares of McDonald’s in a research report on Monday, July 14th. They issued a “sell” rating and a $250.00 price objective for the company. KeyCorp reissued an “overweight” rating and issued a $335.00 price objective (up from $325.00) on shares of McDonald’s in a research report on Thursday, August 7th. Guggenheim reissued a “neutral” rating on shares of McDonald’s in a research report on Friday, August 8th. TD Securities reissued a “hold” rating and issued a $305.00 price objective on shares of McDonald’s in a research report on Thursday, June 5th. Finally, Bank of America lowered their price objective on shares of McDonald’s from $327.00 to $322.00 and set a “neutral” rating for the company in a research report on Friday, July 18th. Eleven equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $325.14.

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.