Rhumbline Advisers Has $387.22 Million Stock Position in McDonald’s Corporation $MCD

Rhumbline Advisers cut its holdings in McDonald’s Corporation (NYSE:MCD) by 2.6% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,325,333 shares of the fast-food giant’s stock after selling 35,445 shares during the quarter. Rhumbline Advisers owned approximately 0.19% of McDonald’s worth $387,222,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Nova Wealth Management Inc. acquired a new stake in shares of McDonald’s in the 1st quarter valued at approximately $26,000. HFM Investment Advisors LLC bought a new position in McDonald’s in the 1st quarter valued at approximately $26,000. Decker Retirement Planning Inc. boosted its position in McDonald’s by 142.9% in the second quarter. Decker Retirement Planning Inc. now owns 85 shares of the fast-food giant’s stock valued at $25,000 after buying an additional 50 shares in the last quarter. Legacy Investment Solutions LLC acquired a new stake in McDonald’s in the second quarter valued at approximately $25,000. Finally, GFG Capital LLC bought a new stake in shares of McDonald’s during the second quarter worth $29,000. Institutional investors own 70.29% of the company’s stock.

Analysts Set New Price Targets

MCD has been the subject of a number of research reports. BMO Capital Markets reiterated an “outperform” rating on shares of McDonald’s in a research note on Thursday, November 6th. Wells Fargo & Company upped their target price on McDonald’s from $340.00 to $345.00 and gave the stock an “overweight” rating in a report on Thursday, November 6th. Royal Bank Of Canada started coverage on McDonald’s in a research report on Wednesday, October 8th. They issued a “sector perform” rating and a $320.00 target price for the company. Stifel Nicolaus lifted their price target on McDonald’s from $300.00 to $315.00 and gave the company a “hold” rating in a research note on Friday, August 22nd. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of McDonald’s in a research note on Friday, October 31st. Eleven equities 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. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $324.57.

McDonald’s Trading Up 1.6%

Shares of MCD opened at $309.00 on Friday. The stock’s 50-day moving average price is $302.96 and its two-hundred day moving average price is $304.36. McDonald’s Corporation has a 12 month low of $276.53 and a 12 month high of $326.32. The company has a market capitalization of $220.06 billion, a PE ratio of 26.48, a PEG ratio of 3.23 and a beta of 0.50.

McDonald’s (NYSE:MCD) last issued its quarterly earnings results on Wednesday, November 5th. The fast-food giant reported $3.22 earnings per share for the quarter, missing the consensus estimate of $3.33 by ($0.11). The company had revenue of $7.08 billion during the quarter, compared to analyst estimates of $7.10 billion. McDonald’s had a net margin of 32.21% and a negative return on equity of 225.52%. The company’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period in the previous year, the company posted $3.23 EPS. Equities research 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 issued 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 positive change from McDonald’s’s previous quarterly dividend of $1.77. McDonald’s’s dividend payout ratio (DPR) is 63.48%.

Insider Activity

In other news, CMO Edith Morgan Flatley sold 1,000 shares of the company’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $315.00, for a total value of $315,000.00. Following the sale, the chief marketing officer directly owned 6,858 shares of the company’s stock, valued at approximately $2,160,270. This represents a 12.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Ian Frederick Borden sold 17,134 shares of McDonald’s stock in a transaction on Friday, November 21st. The stock was sold at an average price of $310.00, for a total transaction of $5,311,540.00. Following the transaction, the chief financial officer directly owned 26,353 shares of the company’s stock, valued at $8,169,430. This represents a 39.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 34,463 shares of company stock worth $10,549,351 over the last quarter. Company insiders own 0.25% of the company’s stock.

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.