Boothbay Fund Management LLC Sells 22,032 Shares of McDonald’s Corporation $MCD

Boothbay Fund Management LLC lowered its position in McDonald’s Corporation (NYSE:MCD) by 34.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 41,160 shares of the fast-food giant’s stock after selling 22,032 shares during the period. Boothbay Fund Management LLC’s holdings in McDonald’s were worth $12,580,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Peterson Wealth Services boosted its holdings in McDonald’s by 3,294.5% in the fourth quarter. Peterson Wealth Services now owns 11,779 shares of the fast-food giant’s stock worth $3,600,000 after acquiring an additional 11,432 shares in the last quarter. Harbour Investments Inc. lifted its holdings in shares of McDonald’s by 84.4% in the fourth quarter. Harbour Investments Inc. now owns 35,510 shares of the fast-food giant’s stock valued at $10,853,000 after purchasing an additional 16,252 shares in the last quarter. Capital International Sarl lifted its holdings in shares of McDonald’s by 10.4% in the fourth quarter. Capital International Sarl now owns 64,256 shares of the fast-food giant’s stock valued at $19,639,000 after purchasing an additional 6,079 shares in the last quarter. North Dakota State Investment Board bought a new position in shares of McDonald’s in the fourth quarter valued at approximately $7,493,000. Finally, Pittenger & Anderson Inc. lifted its holdings in shares of McDonald’s by 21.9% in the fourth quarter. Pittenger & Anderson Inc. now owns 21,487 shares of the fast-food giant’s stock valued at $6,567,000 after purchasing an additional 3,866 shares in the last quarter. Institutional investors own 70.29% of the company’s stock.

McDonald’s Trading Down 1.3%

Shares of McDonald’s stock opened at $284.16 on Thursday. The business’s fifty day simple moving average is $288.07 and its 200 day simple moving average is $306.22. The firm has a market capitalization of $201.90 billion, a P/E ratio of 23.43, a price-to-earnings-growth ratio of 2.87 and a beta of 0.41. McDonald’s Corporation has a 12 month low of $271.85 and a 12 month high of $341.75.

McDonald’s (NYSE:MCD) last issued its quarterly earnings results on Thursday, May 7th. The fast-food giant reported $2.83 EPS for the quarter, topping analysts’ consensus estimates of $2.74 by $0.09. The business had revenue of $6.52 billion for the quarter, compared to analyst estimates of $6.47 billion. McDonald’s had a negative return on equity of 442.10% and a net margin of 31.62%.McDonald’s’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period last year, the company posted $2.67 earnings per share. Analysts predict that McDonald’s Corporation will post 12.93 EPS for the current fiscal year.

McDonald’s Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 16th. Shareholders of record on Tuesday, June 2nd were given a $1.86 dividend. This represents a $7.44 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend was Tuesday, June 2nd. McDonald’s’s dividend payout ratio (DPR) is currently 61.34%.

Trending Headlines about McDonald’s

Here are the key news stories impacting McDonald’s this week:

• Positive Sentiment: McDonald’s is bringing back its fried apple pie after more than 30 years, a nostalgic, limited-time menu move that could support traffic and generate buzz with customers. AP News article
• Positive Sentiment: Other reports also note McDonald’s has been winning with value-oriented diners, which may help it hold up better than midtier restaurant chains as consumers trade down or seek familiar brands. Yahoo Finance article
• Neutral Sentiment: Coverage of McDonald’s reviving classic menu items, updating drive-thrus, and rebuilding older locations is mostly brand/operations news, with limited immediate impact on the stock. TheStreet article
• Neutral Sentiment: A Zacks note pointed out that MCD recently fell more than the broader market, but it did not identify a major new catalyst beyond the stock’s recent weakness. Zacks article
• Negative Sentiment: The biggest headwind is the market’s concern that restaurant spending is fragmenting, which could pressure midtier operators and keep sentiment cautious around consumer discretionary names like McDonald’s. Yahoo Finance article

Insiders Place Their Bets

In other McDonald’s news, insider Joseph M. Erlinger sold 5,252 shares of the firm’s stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $284.32, for a total value of $1,493,248.64. Following the completion of the sale, the insider directly owned 7,734 shares of the company’s stock, valued at $2,198,930.88. This trade represents a 40.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Desiree Ralls-Morrison sold 2,763 shares of the firm’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $278.36, for a total value of $769,108.68. Following the completion of the sale, the executive vice president directly owned 6,268 shares of the company’s stock, valued at $1,744,760.48. This represents a 30.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 11,307 shares of company stock valued at $3,262,622 over the last three months. Company insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

MCD has been the topic of a number of recent research reports. Cfra upgraded McDonald’s to a “buy” rating in a report on Friday, May 8th. Barclays dropped their target price on McDonald’s from $380.00 to $350.00 and set an “overweight” rating on the stock in a report on Friday, May 8th. JPMorgan Chase & Co. dropped their target price on McDonald’s from $325.00 to $305.00 and set an “overweight” rating on the stock in a report on Monday, May 11th. Weiss Ratings lowered McDonald’s from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, May 29th. Finally, TD Cowen restated a “hold” rating on shares of McDonald’s in a report on Friday, June 12th. Sixteen analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $336.26.

McDonald’s Profile

McDonald’s Corporation (NYSE: MCD) is a global quick-service restaurant company best known for its hamburgers, French fries and breakfast offerings. The company develops, operates and franchises a system of restaurants that sell a range of food and beverage items, including signature products such as the Big Mac, Quarter Pounder, Chicken McNuggets, McCafé coffee beverages and a variety of salads, desserts and seasonal menu items. McDonald’s serves customers through company-operated restaurants and franchised locations, and it supports sales via dine-in, drive-thru, digital ordering platforms and third-party delivery partnerships.

Founded in 1940 by brothers Richard and Maurice McDonald as a single San Bernardino, California restaurant, the business was transformed into a franchising model after Ray Kroc joined in the mid-1950s and led the brand’s national and international expansion.