Brookstone Capital Management Sells 4,901 Shares of McDonald’s Corporation $MCD

Brookstone Capital Management cut its position in McDonald’s Corporation (NYSE:MCD) by 6.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 71,111 shares of the fast-food giant’s stock after selling 4,901 shares during the quarter. Brookstone Capital Management’s holdings in McDonald’s were worth $20,777,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. WealthPlan Investment Management LLC raised its position in shares of McDonald’s by 0.9% in the 1st quarter. WealthPlan Investment Management LLC now owns 3,630 shares of the fast-food giant’s stock valued at $1,134,000 after buying an additional 32 shares in the last quarter. Security Financial Services INC. raised its position in shares of McDonald’s by 0.7% in the 1st quarter. Security Financial Services INC. now owns 5,043 shares of the fast-food giant’s stock valued at $1,575,000 after buying an additional 33 shares in the last quarter. Ascent Wealth Partners LLC raised its position in shares of McDonald’s by 0.3% in the 1st quarter. Ascent Wealth Partners LLC now owns 11,588 shares of the fast-food giant’s stock valued at $3,620,000 after buying an additional 34 shares in the last quarter. Platform Technology Partners raised its position in shares of McDonald’s by 0.4% in the 1st quarter. Platform Technology Partners now owns 8,617 shares of the fast-food giant’s stock valued at $2,692,000 after buying an additional 35 shares in the last quarter. Finally, Alexander Labrunerie & CO. Inc. raised its position in shares of McDonald’s by 3.4% in the 1st quarter. Alexander Labrunerie & CO. Inc. now owns 1,070 shares of the fast-food giant’s stock valued at $334,000 after buying an additional 35 shares in the last quarter. 70.29% of the stock is currently owned by institutional investors and hedge funds.

McDonald’s Stock Performance

Shares of NYSE MCD opened at $307.36 on Wednesday. McDonald’s Corporation has a 52-week low of $276.53 and a 52-week high of $326.32. The firm has a 50 day moving average price of $306.47 and a two-hundred day moving average price of $305.48. The stock has a market cap of $219.33 billion, a P/E ratio of 26.34, a price-to-earnings-growth ratio of 3.25 and a beta of 0.50.

McDonald’s (NYSE:MCD) last announced its quarterly earnings results on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.15 by $0.04. McDonald’s had a net margin of 32.21% and a negative return on equity of 225.52%. The firm had revenue of $6.84 billion during the quarter, compared to analysts’ expectations of $6.68 billion. During the same period in the prior year, the company posted $2.97 EPS. The company’s revenue was up 5.4% on a year-over-year basis. Analysts predict that McDonald’s Corporation will post 12.25 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Jonathan Banner sold 1,000 shares of the company’s stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $310.00, for a total value of $310,000.00. Following the sale, the executive vice president directly owned 99 shares of the company’s stock, valued at approximately $30,690. This represents a 90.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Desiree Ralls-Morrison sold 2,487 shares of the company’s stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $310.00, for a total transaction of $770,970.00. Following the completion of the sale, the executive vice president directly owned 8,754 shares in the company, valued at approximately $2,713,740. This represents a 22.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,463 shares of company stock valued at $1,692,186. 0.25% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on MCD. Piper Sandler boosted their target price on shares of McDonald’s from $314.00 to $325.00 and gave the company a “neutral” rating in a research report on Thursday, August 7th. JPMorgan Chase & Co. upped their price objective on shares of McDonald’s from $305.00 to $310.00 and gave the stock an “overweight” rating in a research report on Thursday, August 7th. Evercore ISI upped their price objective on shares of McDonald’s from $350.00 to $360.00 and gave the stock an “outperform” rating in a research report on Friday, August 8th. Wells Fargo & Company lowered their price objective on shares of McDonald’s from $350.00 to $340.00 and set an “overweight” rating for the company in a research report on Thursday, October 16th. Finally, TD Cowen upped their price objective on shares of McDonald’s from $305.00 to $315.00 and gave the stock a “hold” rating in a research report on Wednesday, August 6th. Eleven analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, McDonald’s currently has an average rating of “Hold” and an average price target of $324.41.

McDonald’s Company 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.