Brookstone Capital Management Sells 4,901 Shares of McDonald’s Corporation $MCD

Brookstone Capital Management cut its stake in shares of McDonald’s Corporation (NYSE:MCD) by 6.4% during the 2nd quarter, Holdings Channel reports. The fund owned 71,111 shares of the fast-food giant’s stock after selling 4,901 shares during the period. Brookstone Capital Management’s holdings in McDonald’s were worth $20,777,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of MCD. HFM Investment Advisors LLC bought a new position in McDonald’s during the first quarter worth $26,000. Nova Wealth Management Inc. bought a new position in shares of McDonald’s in the first quarter valued at $26,000. GFG Capital LLC bought a new position in shares of McDonald’s in the second quarter valued at $29,000. Abound Financial LLC bought a new position in shares of McDonald’s in the first quarter valued at $30,000. Finally, Redmont Wealth Advisors LLC bought a new position in shares of McDonald’s in the first quarter valued at $31,000. 70.29% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CMO Edith Morgan Flatley sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $315.00, for a total transaction of $315,000.00. Following the completion of the sale, the chief marketing officer owned 6,858 shares in the company, valued at approximately $2,160,270. This trade represents a 12.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 completion of the transaction, the executive vice president owned 8,754 shares of the company’s stock, valued at $2,713,740. The trade was a 22.12% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,463 shares of company stock worth $1,692,186. Insiders own 0.25% of the company’s stock.

McDonald’s Stock Performance

NYSE MCD opened at $307.36 on Wednesday. McDonald’s Corporation has a 52-week low of $276.53 and a 52-week high of $326.32. The company has a 50-day simple moving average of $306.47 and a 200 day simple moving average of $305.48. The company has a market capitalization of $219.33 billion, a PE ratio of 26.34, a price-to-earnings-growth ratio of 3.25 and a beta of 0.50.

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

Wall Street Analyst Weigh In

A number of research analysts have weighed in on MCD shares. Wells Fargo & Company dropped their price objective on shares of McDonald’s from $350.00 to $340.00 and set an “overweight” rating on the stock in a research note on Thursday, October 16th. Royal Bank Of Canada started coverage on shares of McDonald’s in a research note on Wednesday, October 8th. They issued a “sector perform” rating and a $320.00 price objective on the stock. The Goldman Sachs Group raised shares of McDonald’s from a “neutral” rating to a “buy” rating and set a $345.00 price objective on the stock in a research note on Thursday, July 10th. Morgan Stanley set a $335.00 price target on shares of McDonald’s in a research report on Friday. Finally, KeyCorp reissued an “overweight” rating and set a $335.00 price target on shares of McDonald’s in a research report on Monday. Eleven research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $324.41.

About McDonald’s

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.