Checchi Capital Advisers LLC Sells 309 Shares of McDonald’s Corporation $MCD

Checchi Capital Advisers LLC reduced its holdings in shares of McDonald’s Corporation (NYSE:MCD) by 3.1% in the 2nd quarter, Holdings Channel.com reports. The fund owned 9,726 shares of the fast-food giant’s stock after selling 309 shares during the period. Checchi Capital Advisers LLC’s holdings in McDonald’s were worth $2,842,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of MCD. HFM Investment Advisors LLC bought a new stake in shares of McDonald’s during the first quarter worth approximately $26,000. Nova Wealth Management Inc. bought a new stake in shares of McDonald’s during the 1st quarter worth approximately $26,000. Abound Financial LLC bought a new stake in shares of McDonald’s during the 1st quarter worth $30,000. Redmont Wealth Advisors LLC bought a new position in shares of McDonald’s in the 1st quarter valued at $31,000. Finally, Financial Gravity Asset Management Inc. bought a new position in McDonald’s in the 1st quarter valued at approximately $31,000. 70.29% of the stock is currently owned by institutional investors.

Insider Activity at McDonald’s

In other news, insider Joseph M. Erlinger sold 939 shares of the firm’s stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $299.49, for a total value of $281,221.11. Following the completion of the transaction, the insider owned 9,283 shares in the company, valued at $2,780,165.67. This trade represents a 9.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Desiree Ralls-Morrison sold 2,487 shares of the firm’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 value of $770,970.00. Following the completion of the transaction, the executive vice president owned 8,754 shares of the company’s stock, valued at approximately $2,713,740. The trade was a 22.12% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,402 shares of company stock valued at $2,273,407. 0.25% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on MCD shares. Argus downgraded shares of McDonald’s from a “buy” rating to a “hold” rating in a research note on Friday, June 13th. Guggenheim reissued a “neutral” rating on shares of McDonald’s in a research report on Friday, August 8th. Evercore ISI upped their target price on McDonald’s from $350.00 to $360.00 and gave the company an “outperform” rating in a report on Friday, August 8th. The Goldman Sachs Group upgraded shares of McDonald’s from a “neutral” rating to a “buy” rating and set a $345.00 target price on the stock in a research note on Thursday, July 10th. Finally, JPMorgan Chase & Co. lifted their target price on shares of McDonald’s from $305.00 to $310.00 and gave the stock an “overweight” rating in a research note on Thursday, August 7th. Twelve research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $325.86.

McDonald’s Trading Up 0.3%

McDonald’s stock opened at $300.72 on Friday. The firm has a 50-day moving average of $306.93 and a 200-day moving average of $306.16. The firm has a market cap of $214.59 billion, a P/E ratio of 25.77, a P/E/G ratio of 3.07 and a beta of 0.50. McDonald’s Corporation has a 1-year low of $276.53 and a 1-year high of $326.32.

McDonald’s (NYSE:MCD) last released its quarterly earnings data on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share for the quarter, topping the consensus estimate of $3.15 by $0.04. McDonald’s had a negative return on equity of 225.52% and a net margin of 32.21%.The business had revenue of $6.84 billion during the quarter, compared to analysts’ expectations of $6.68 billion. During the same quarter last year, the business posted $2.97 EPS. The business’s revenue was up 5.4% on a year-over-year basis. Research analysts forecast that McDonald’s Corporation will post 12.25 earnings per share for the current fiscal year.

McDonald’s Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd were given a $1.77 dividend. This represents a $7.08 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend was Tuesday, September 2nd. McDonald’s’s dividend payout ratio (DPR) is currently 60.67%.

McDonald’s Company 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.