Stonebrook Private Inc. Decreases Position in McDonald’s Co. (NYSE:MCD)

Stonebrook Private Inc. decreased its position in shares of McDonald’s Co. (NYSE:MCD) by 9.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,081 shares of the fast-food giant’s stock after selling 1,113 shares during the quarter. Stonebrook Private Inc.’s holdings in McDonald’s were worth $2,824,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in MCD. Dixon Mitchell Investment Counsel Inc. purchased a new position in shares of McDonald’s in the first quarter worth $28,000. Clear Investment Research LLC purchased a new position in shares of McDonald’s during the fourth quarter valued at approximately $38,000. Kings Path Partners LLC bought a new position in McDonald’s during the second quarter valued at approximately $38,000. Atlantic Edge Private Wealth Management LLC purchased a new stake in McDonald’s in the fourth quarter worth approximately $39,000. Finally, Accent Capital Management LLC bought a new stake in McDonald’s in the 4th quarter worth approximately $44,000. Institutional investors own 70.29% of the company’s stock.

McDonald’s Stock Performance

MCD stock traded up $1.54 during trading on Friday, hitting $289.51. 3,863,559 shares of the company’s stock traded hands, compared to its average volume of 3,505,613. McDonald’s Co. has a 52 week low of $243.53 and a 52 week high of $302.39. The stock has a market capitalization of $208.64 billion, a price-to-earnings ratio of 24.58, a P/E/G ratio of 3.86 and a beta of 0.72. The business has a fifty day simple moving average of $268.64 and a 200 day simple moving average of $270.91.

McDonald’s (NYSE:MCD) last announced its quarterly earnings results on Monday, July 29th. The fast-food giant reported $2.97 EPS for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.10). McDonald’s had a net margin of 32.25% and a negative return on equity of 178.68%. The business had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $6.62 billion. During the same period in the previous year, the business posted $3.17 EPS. The firm’s revenue was down .1% on a year-over-year basis. Research analysts forecast that McDonald’s Co. will post 11.67 earnings per share for the current fiscal year.

McDonald’s Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be issued a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date is Tuesday, September 3rd. McDonald’s’s dividend payout ratio (DPR) is 56.71%.

Insider Activity

In related news, insider Joseph M. Erlinger sold 1,098 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $288.70, for a total value of $316,992.60. Following the completion of the sale, the insider now directly owns 12,583 shares in the company, valued at $3,632,712.10. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, insider Joseph M. Erlinger sold 1,098 shares of the stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $288.70, for a total value of $316,992.60. Following the sale, the insider now owns 12,583 shares of the company’s stock, valued at $3,632,712.10. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Joseph M. Erlinger sold 1,099 shares of McDonald’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $260.00, for a total transaction of $285,740.00. Following the transaction, the insider now directly owns 13,681 shares of the company’s stock, valued at $3,557,060. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,291 shares of company stock valued at $1,689,073. 0.23% of the stock is currently owned by insiders.

Analyst Ratings Changes

MCD has been the topic of a number of research reports. Guggenheim raised their price target on McDonald’s from $280.00 to $290.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Bank of America cut their price target on McDonald’s from $288.00 to $278.00 and set a “neutral” rating for the company in a research note on Tuesday, July 30th. Tigress Financial increased their price objective on shares of McDonald’s from $355.00 to $360.00 and gave the stock a “buy” rating in a research note on Tuesday. TD Cowen lowered shares of McDonald’s from a “buy” rating to a “hold” rating and cut their target price for the company from $285.00 to $280.00 in a research report on Wednesday, July 31st. Finally, Truist Financial reduced their target price on shares of McDonald’s from $300.00 to $295.00 and set a “buy” rating for the company in a report on Tuesday, July 30th. Eleven research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat, McDonald’s has an average rating of “Moderate Buy” and a consensus price target of $303.89.

About McDonald’s

McDonald's Corporation operates and franchises restaurants under the McDonald's brand in the United States and internationally. It offers food and beverages, including hamburgers and cheeseburgers, various chicken sandwiches, fries, shakes, desserts, sundaes, cookies, pies, soft drinks, coffee, and other beverages; and full or limited breakfast, as well as sells various other products during limited-time promotions.