Keeler Thomas Management LLC Lowers Holdings in McDonald’s Corporation $MCD

Keeler Thomas Management LLC trimmed its position in McDonald’s Corporation (NYSE:MCD) by 91.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 819 shares of the fast-food giant’s stock after selling 8,236 shares during the quarter. Keeler Thomas Management LLC’s holdings in McDonald’s were worth $239,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in MCD. Nuveen LLC bought a new position in shares of McDonald’s in the 1st quarter worth $1,324,961,000. Price T Rowe Associates Inc. MD raised its position in shares of McDonald’s by 16.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,341,460 shares of the fast-food giant’s stock worth $2,917,993,000 after acquiring an additional 1,344,954 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of McDonald’s by 19.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,982,825 shares of the fast-food giant’s stock worth $1,556,485,000 after acquiring an additional 815,768 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its position in shares of McDonald’s by 732.6% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 650,544 shares of the fast-food giant’s stock worth $203,211,000 after acquiring an additional 572,408 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its position in shares of McDonald’s by 204.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 607,145 shares of the fast-food giant’s stock worth $177,390,000 after acquiring an additional 407,982 shares in the last quarter. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at McDonald’s

In other news, EVP Jonathan Banner sold 1,000 shares of the company’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 sale, the executive vice president owned 99 shares in the company, valued at $30,690. This represents a 90.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CMO Edith Morgan Flatley sold 1,000 shares of the company’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $315.00, for a total value of $315,000.00. Following the completion of the sale, the chief marketing officer owned 6,858 shares in the company, valued at $2,160,270. The trade was a 12.73% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,463 shares of company stock worth $1,692,186 over the last quarter. 0.25% of the stock is currently owned by insiders.

McDonald’s Stock Performance

McDonald’s stock opened at $306.05 on Friday. The business’s 50-day simple moving average is $306.49 and its two-hundred day simple moving average is $305.61. The company has a market cap of $218.39 billion, a PE ratio of 26.23, a PEG ratio of 3.24 and a beta of 0.50. McDonald’s Corporation has a fifty-two week low of $276.53 and a fifty-two week high of $326.32.

McDonald’s (NYSE:MCD) last posted its quarterly 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 business had revenue of $6.84 billion for 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 quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.97 EPS. As a group, analysts predict that McDonald’s Corporation will post 12.25 EPS 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. Shareholders of record on Monday, December 1st will be paid a dividend of $1.86 per share. This represents a $7.44 annualized dividend and a yield of 2.4%. The ex-dividend date is Monday, December 1st. This is a boost from McDonald’s’s previous quarterly dividend of $1.77. McDonald’s’s dividend payout ratio (DPR) is presently 60.67%.

Analyst Ratings Changes

MCD has been the subject of several recent research reports. The Goldman Sachs Group raised McDonald’s from a “neutral” rating to a “buy” rating and set a $345.00 price target for the company in a research report on Thursday, July 10th. KeyCorp reissued an “overweight” rating and issued a $335.00 price target on shares of McDonald’s in a research report on Monday. JPMorgan Chase & Co. upped their target price on McDonald’s from $305.00 to $310.00 and gave the company an “overweight” rating in a research report on Thursday, August 7th. Guggenheim reduced their target price on McDonald’s from $310.00 to $295.00 and set a “neutral” rating on the stock in a research report on Friday, October 10th. Finally, Evercore ISI upped their target price on McDonald’s from $350.00 to $360.00 and gave the company an “outperform” rating in a research report on Friday, August 8th. Eleven equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, McDonald’s presently has an average rating of “Hold” and a consensus price target of $324.50.

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.