McDonald’s Corporation $MCD Stake Cut by Robertson Stephens Wealth Management LLC

Robertson Stephens Wealth Management LLC cut its position in shares of McDonald’s Corporation (NYSE:MCD) by 4.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,560 shares of the fast-food giant’s stock after selling 496 shares during the quarter. Robertson Stephens Wealth Management LLC’s holdings in McDonald’s were worth $2,793,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in MCD. Nuveen LLC bought a new position in McDonald’s during the first quarter worth $1,324,961,000. Price T Rowe Associates Inc. MD lifted its stake in McDonald’s by 16.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 9,341,460 shares of the fast-food giant’s stock valued at $2,917,993,000 after buying an additional 1,344,954 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in McDonald’s by 19.6% in the first quarter. Goldman Sachs Group Inc. now owns 4,982,825 shares of the fast-food giant’s stock valued at $1,556,485,000 after buying an additional 815,768 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its stake in McDonald’s by 732.6% in the first quarter. T. Rowe Price Investment Management Inc. now owns 650,544 shares of the fast-food giant’s stock valued at $203,211,000 after buying an additional 572,408 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in McDonald’s by 204.8% in the second quarter. Assenagon Asset Management S.A. now owns 607,145 shares of the fast-food giant’s stock valued at $177,390,000 after buying an additional 407,982 shares during the last quarter. 70.29% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on MCD shares. Bank of America cut their target price on McDonald’s from $327.00 to $322.00 and set a “neutral” rating on the stock in a research note on Friday, July 18th. BMO Capital Markets raised their target price on McDonald’s from $350.00 to $360.00 and gave the company an “outperform” rating in a research note on Thursday, September 4th. Piper Sandler raised their target price on McDonald’s from $314.00 to $325.00 and gave the company a “neutral” rating in a research note on Thursday, August 7th. Truist Financial raised their target price on McDonald’s from $356.00 to $360.00 and gave the company a “buy” rating in a research note on Thursday, August 7th. Finally, JPMorgan Chase & Co. raised their target price on McDonald’s from $305.00 to $310.00 and gave the company an “overweight” rating in a research note on Thursday, August 7th. Eleven equities research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $325.18.

Insider Transactions at McDonald’s

In related news, EVP Desiree Ralls-Morrison sold 2,487 shares of McDonald’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 transaction, the executive vice president directly owned 8,754 shares of the company’s stock, valued at $2,713,740. The trade was a 22.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jonathan Banner sold 1,000 shares of McDonald’s stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $310.00, for a total value of $310,000.00. Following the transaction, the executive vice president directly owned 99 shares in the company, valued at approximately $30,690. The trade was a 90.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,402 shares of company stock valued at $1,973,407 in the last three months. 0.25% of the stock is currently owned by insiders.

McDonald’s Stock Performance

Shares of MCD opened at $297.07 on Friday. The firm has a market capitalization of $211.99 billion, a price-to-earnings ratio of 25.46, a price-to-earnings-growth ratio of 3.09 and a beta of 0.50. McDonald’s Corporation has a one year low of $276.53 and a one year high of $326.32. The stock’s fifty day moving average is $306.31 and its 200-day moving average is $305.79.

McDonald’s (NYSE:MCD) last issued its quarterly earnings results on Wednesday, August 6th. The fast-food giant reported $3.19 EPS for the quarter, beating analysts’ consensus estimates of $3.15 by $0.04. The company had revenue of $6.84 billion for the quarter, compared to analyst estimates of $6.68 billion. McDonald’s had a negative return on equity of 225.52% and a net margin of 32.21%.The company’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same period last year, the company earned $2.97 earnings per share. Analysts forecast that McDonald’s Corporation will post 12.25 EPS for the current fiscal year.

McDonald’s Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd were issued a dividend of $1.77 per share. This represents a $7.08 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend was Tuesday, September 2nd. McDonald’s’s payout ratio is presently 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.