McDonald’s Corporation $MCD Shares Sold by Carret Asset Management LLC

Carret Asset Management LLC reduced its stake in McDonald’s Corporation (NYSE:MCD) by 0.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 11,857 shares of the fast-food giant’s stock after selling 46 shares during the quarter. Carret Asset Management LLC’s holdings in McDonald’s were worth $3,464,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. First American Trust FSB grew its stake in shares of McDonald’s by 55.9% in the 1st quarter. First American Trust FSB now owns 36,917 shares of the fast-food giant’s stock valued at $11,532,000 after purchasing an additional 13,234 shares during the last quarter. Banque Transatlantique SA lifted its holdings in shares of McDonald’s by 58.0% in the 1st quarter. Banque Transatlantique SA now owns 248,826 shares of the fast-food giant’s stock valued at $71,829,000 after buying an additional 91,313 shares during the period. Hamilton Capital LLC lifted its holdings in shares of McDonald’s by 35.2% in the 1st quarter. Hamilton Capital LLC now owns 3,145 shares of the fast-food giant’s stock valued at $982,000 after buying an additional 819 shares during the period. Welch Group LLC lifted its holdings in shares of McDonald’s by 1.1% in the 2nd quarter. Welch Group LLC now owns 206,004 shares of the fast-food giant’s stock valued at $60,188,000 after buying an additional 2,180 shares during the period. Finally, Graybill Wealth Management LTD. acquired a new stake in shares of McDonald’s in the 1st quarter valued at approximately $564,000. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at McDonald’s

In other news, EVP Desiree Ralls-Morrison sold 2,487 shares of the business’s stock in a transaction on Wednesday, August 6th. The stock was 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 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 SEC, which is available through the SEC website. Also, EVP Jonathan Banner sold 1,000 shares of the business’s stock in a transaction 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 of the company’s stock, valued at approximately $30,690. This trade represents a 90.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 5,463 shares of company stock valued at $1,692,186 over the last three months. 0.25% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms have recently commented on MCD. TD Cowen raised their price target on McDonald’s from $305.00 to $315.00 and gave the company a “hold” rating in a report on Wednesday, August 6th. Mizuho raised McDonald’s to a “hold” rating in a report on Tuesday. Melius began coverage on McDonald’s in a report on Monday, July 14th. They issued a “sell” rating and a $250.00 price target for the company. Weiss Ratings reissued a “buy (b)” rating on shares of McDonald’s in a report on Wednesday, October 8th. Finally, BMO Capital Markets raised their price target on McDonald’s from $350.00 to $360.00 and gave the company an “outperform” rating in a report on Thursday, September 4th. Eleven investment analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, McDonald’s has an average rating of “Hold” and an average target price of $323.43.

McDonald’s Stock Performance

Shares of MCD stock opened at $302.18 on Thursday. The stock has a fifty day moving average price of $306.22 and a 200 day moving average price of $305.66. The stock has a market cap 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 issued its quarterly earnings data on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.15 by $0.04. The firm had revenue of $6.84 billion during the quarter, compared to analysts’ expectations of $6.68 billion. McDonald’s had a negative return on equity of 225.52% and a net margin of 32.21%.McDonald’s’s revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the firm posted $2.97 earnings per share. As a group, equities research analysts predict that McDonald’s Corporation will post 12.25 earnings per share for the current year.

McDonald’s Increases Dividend

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