McDonald’s Corporation $MCD Shares Sold by Bristlecone Advisors LLC

Bristlecone Advisors LLC reduced its position in shares of McDonald’s Corporation (NYSE:MCD) by 6.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 796 shares of the fast-food giant’s stock after selling 54 shares during the period. Bristlecone Advisors LLC’s holdings in McDonald’s were worth $233,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of MCD. HFM Investment Advisors LLC purchased a new position in shares of McDonald’s during the first quarter worth $26,000. Nova Wealth Management Inc. purchased a new stake in McDonald’s during the 1st quarter worth about $26,000. GFG Capital LLC purchased a new stake in McDonald’s during the 2nd quarter worth about $29,000. Abound Financial LLC purchased a new stake in McDonald’s during the 1st quarter worth about $30,000. Finally, Redmont Wealth Advisors LLC acquired a new stake in shares of McDonald’s during the first quarter worth about $31,000. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

McDonald’s Price Performance

Shares of McDonald’s stock opened at $302.18 on Thursday. The business has a 50-day moving average of $306.22 and a 200-day moving average of $305.66. The company has a market capitalization of $215.64 billion, a PE ratio of 25.89, a P/E/G ratio of 3.28 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 announced its earnings results on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share for the quarter, beating the consensus estimate of $3.15 by $0.04. The company had revenue of $6.84 billion during the quarter, compared to the consensus estimate 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 revenue was up 5.4% on a year-over-year basis. During the same period last year, the firm earned $2.97 earnings per share. On average, equities analysts expect that McDonald’s Corporation will post 12.25 earnings per share for the current fiscal year.

McDonald’s Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be paid a $1.86 dividend. This represents a $7.44 dividend on an annualized basis and a yield of 2.5%. This is a positive change from McDonald’s’s previous quarterly dividend of $1.77. The ex-dividend date is Monday, December 1st. McDonald’s’s payout ratio is 60.67%.

Insider Buying and Selling

In other McDonald’s news, EVP Jonathan Banner sold 1,000 shares of McDonald’s stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $310.00, for a total value of $310,000.00. Following the completion of the transaction, the executive vice president directly owned 99 shares in the company, valued at $30,690. The trade was a 90.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Desiree Ralls-Morrison sold 2,487 shares of McDonald’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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 5,463 shares of company stock worth $1,692,186. Corporate insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on MCD shares. TD Cowen lifted their target price on McDonald’s from $305.00 to $315.00 and gave the stock a “hold” rating in a research report on Wednesday, August 6th. Guggenheim lowered their price objective on McDonald’s from $310.00 to $295.00 and set a “neutral” rating on the stock in a report on Friday, October 10th. Mizuho raised McDonald’s to a “hold” rating in a report on Tuesday. Melius initiated coverage on McDonald’s in a research note on Monday, July 14th. They set a “sell” rating and a $250.00 price target on the stock. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of McDonald’s in a research note on Wednesday, October 8th. Eleven equities research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $323.43.

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.