Castlekeep Investment Advisors LLC Trims Holdings in McDonald’s Corporation $MCD

Castlekeep Investment Advisors LLC decreased its stake in shares of McDonald’s Corporation (NYSE:MCD) by 9.5% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,869 shares of the fast-food giant’s stock after selling 405 shares during the quarter. Castlekeep Investment Advisors LLC’s holdings in McDonald’s were worth $1,130,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. First American Trust FSB increased its stake in McDonald’s by 55.9% during the first quarter. First American Trust FSB now owns 36,917 shares of the fast-food giant’s stock worth $11,532,000 after acquiring an additional 13,234 shares during the last quarter. Banque Transatlantique SA increased its stake in McDonald’s by 58.0% during the first quarter. Banque Transatlantique SA now owns 248,826 shares of the fast-food giant’s stock worth $71,829,000 after acquiring an additional 91,313 shares during the last quarter. Hamilton Capital LLC increased its stake in McDonald’s by 35.2% during the first quarter. Hamilton Capital LLC now owns 3,145 shares of the fast-food giant’s stock worth $982,000 after acquiring an additional 819 shares during the last quarter. Welch Group LLC increased its stake in McDonald’s by 1.1% during the second quarter. Welch Group LLC now owns 206,004 shares of the fast-food giant’s stock worth $60,188,000 after acquiring an additional 2,180 shares during the last quarter. Finally, Graybill Wealth Management LTD. acquired a new stake in McDonald’s during the first quarter worth $564,000. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Wall Street Analysts Forecast Growth

MCD has been the subject of several recent analyst reports. Stifel Nicolaus raised their target price on McDonald’s from $300.00 to $315.00 and gave the stock a “hold” rating in a research note on Friday, August 22nd. Mizuho raised McDonald’s to a “hold” rating in a research note on Tuesday, October 28th. TD Cowen lifted their price objective on McDonald’s from $305.00 to $315.00 and gave the company a “hold” rating in a research note on Wednesday, August 6th. Evercore ISI lifted their price objective on McDonald’s from $350.00 to $360.00 and gave the company an “outperform” rating in a research note on Friday, August 8th. Finally, Melius started coverage on McDonald’s in a research note on Monday, July 14th. They issued a “sell” rating and a $250.00 price objective for the company. Eleven 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 company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $323.43.

McDonald’s Trading Down 1.3%

NYSE:MCD opened at $298.44 on Friday. The firm has a market cap of $212.97 billion, a PE ratio of 25.57, a price-to-earnings-growth ratio of 3.23 and a beta of 0.50. The stock has a fifty day moving average price of $305.70 and a 200 day moving average price of $305.46. McDonald’s Corporation has a 12-month low of $276.53 and a 12-month high of $326.32.

McDonald’s (NYSE:MCD) last released its earnings results on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.15 by $0.04. The firm had revenue of $6.84 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period last year, the business posted $2.97 earnings per share. Equities analysts forecast that McDonald’s Corporation will post 12.25 EPS for the current year.

McDonald’s Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors 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 yield of 2.5%. This is a boost from McDonald’s’s previous quarterly dividend of $1.77. The ex-dividend date is Monday, December 1st. McDonald’s’s dividend payout ratio (DPR) is 63.75%.

Insider Activity at McDonald’s

In related news, EVP Desiree Ralls-Morrison sold 2,487 shares of McDonald’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 in the company, valued at approximately $2,713,740. This trade represents a 22.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Jonathan Banner sold 1,000 shares of McDonald’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 completion of the transaction, the executive vice president 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 disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 4,487 shares of company stock worth $1,395,970. Company insiders own 0.25% of the company’s stock.

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.