McDonald’s Corporation $MCD Shares Sold by SCS Capital Management LLC

SCS Capital Management LLC lessened its stake in shares of McDonald’s Corporation (NYSE:MCD) by 25.4% during the fourth quarter, Holdings Channel.com reports. The fund owned 5,311 shares of the fast-food giant’s stock after selling 1,813 shares during the period. SCS Capital Management LLC’s holdings in McDonald’s were worth $1,623,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Harbour Investments Inc. grew its position in McDonald’s by 84.4% in the fourth quarter. Harbour Investments Inc. now owns 35,510 shares of the fast-food giant’s stock worth $10,853,000 after buying an additional 16,252 shares during the last quarter. Pittenger & Anderson Inc. boosted its stake in McDonald’s by 21.9% in the 4th quarter. Pittenger & Anderson Inc. now owns 21,487 shares of the fast-food giant’s stock worth $6,567,000 after purchasing an additional 3,866 shares during the period. North Dakota State Investment Board acquired a new position in McDonald’s in the 4th quarter worth approximately $7,493,000. Schroder Investment Management Group boosted its stake in McDonald’s by 5.2% in the 3rd quarter. Schroder Investment Management Group now owns 1,029,572 shares of the fast-food giant’s stock worth $312,877,000 after purchasing an additional 51,039 shares during the period. Finally, National Pension Service boosted its stake in McDonald’s by 1.6% in the 4th quarter. National Pension Service now owns 1,557,348 shares of the fast-food giant’s stock worth $475,972,000 after purchasing an additional 24,333 shares during the period. Institutional investors and hedge funds own 70.29% of the company’s stock.

Analyst Upgrades and Downgrades

MCD has been the subject of a number of recent analyst reports. Truist Financial raised their price objective on shares of McDonald’s from $356.00 to $370.00 and gave the stock a “buy” rating in a research note on Thursday, February 12th. Wells Fargo & Company decreased their price objective on shares of McDonald’s from $355.00 to $320.00 and set an “overweight” rating for the company in a research note on Friday, May 8th. TD Cowen decreased their price objective on shares of McDonald’s from $330.00 to $300.00 and set a “hold” rating for the company in a research note on Thursday, May 7th. Rothschild & Co Redburn raised shares of McDonald’s from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $260.00 to $306.00 in a research note on Thursday, April 23rd. Finally, Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $340.00 price objective on shares of McDonald’s in a research note on Thursday, February 12th. Sixteen equities research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $334.45.

Key Headlines Impacting McDonald’s

Here are the key news stories impacting McDonald’s this week:

• Positive Sentiment: McDonald’s unveiled “McDonald’s NEXT,” a companywide growth strategy focused on automation, improved restaurant design, better food quality, stronger customer service, and more effective social media marketing. Article Title
• Positive Sentiment: Analysts and recent commentary suggest McDonald’s is gaining market share in a cautious consumer environment by leaning on low-cost meals, menu innovation, and strong value marketing. Article Title
• Neutral Sentiment: McDonald’s also highlighted plans around restaurant operating efficiency and franchisee support, which could improve margins over time but will likely take time to show up in results. Article Title
• Neutral Sentiment: An executive vice president sold shares in a recent insider transaction, which is worth watching but is not necessarily a fundamental red flag on its own. Article Title

McDonald’s Stock Down 1.1%

Shares of NYSE:MCD opened at $276.19 on Tuesday. The firm has a fifty day moving average of $294.66 and a two-hundred day moving average of $308.42. The firm has a market capitalization of $196.23 billion, a P/E ratio of 22.77, a price-to-earnings-growth ratio of 2.78 and a beta of 0.41. McDonald’s Corporation has a 12-month low of $271.98 and a 12-month high of $341.75.

McDonald’s (NYSE:MCD) last issued its earnings results on Thursday, May 7th. The fast-food giant reported $2.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.74 by $0.09. The company had revenue of $6.52 billion during the quarter, compared to analyst estimates of $6.47 billion. McDonald’s had a net margin of 31.62% and a negative return on equity of 442.10%. The company’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter last year, the business posted $2.67 EPS. Equities research analysts expect that McDonald’s Corporation will post 12.93 earnings per share for the current fiscal year.

McDonald’s Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 16th. Stockholders of record on Tuesday, June 2nd will be issued a dividend of $1.86 per share. The ex-dividend date is Tuesday, June 2nd. This represents a $7.44 dividend on an annualized basis and a dividend yield of 2.7%. McDonald’s’s dividend payout ratio (DPR) is currently 61.34%.

Insiders Place Their Bets

In other news, insider Joseph M. Erlinger sold 2,626 shares of the firm’s stock in a transaction on Friday, April 10th. The shares were sold at an average price of $307.00, for a total transaction of $806,182.00. Following the transaction, the insider owned 8,400 shares in the company, valued at approximately $2,578,800. This trade represents a 23.82% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Desiree Ralls-Morrison sold 2,763 shares of the firm’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $278.36, for a total transaction of $769,108.68. Following the transaction, the executive vice president owned 6,268 shares in the company, valued at $1,744,760.48. This represents a 30.59% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 8,681 shares of company stock worth $2,631,594 in the last 90 days. 0.26% of the stock is owned by insiders.

McDonald’s Company Profile

McDonald’s Corporation (NYSE: MCD) is a global quick-service restaurant company best known for its hamburgers, French fries and breakfast offerings. The company develops, operates and franchises a system of restaurants that sell a range of food and beverage items, including signature products such as the Big Mac, Quarter Pounder, Chicken McNuggets, McCafé coffee beverages and a variety of salads, desserts and seasonal menu items. McDonald’s serves customers through company-operated restaurants and franchised locations, and it supports sales via dine-in, drive-thru, digital ordering platforms and third-party delivery partnerships.

Founded in 1940 by brothers Richard and Maurice McDonald as a single San Bernardino, California restaurant, the business was transformed into a franchising model after Ray Kroc joined in the mid-1950s and led the brand’s national and international expansion.