Good Life Advisors LLC Trims Stake in McDonald’s Corporation $MCD

Good Life Advisors LLC cut its position in shares of McDonald’s Corporation (NYSE:MCD) by 27.8% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,083 shares of the fast-food giant’s stock after selling 3,492 shares during the period. Good Life Advisors LLC’s holdings in McDonald’s were worth $2,654,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in MCD. Vanguard Group Inc. raised its position in shares of McDonald’s by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 70,409,095 shares of the fast-food giant’s stock worth $21,993,689,000 after acquiring an additional 239,753 shares in the last quarter. Geode Capital Management LLC raised its holdings in McDonald’s by 1.7% in the second quarter. Geode Capital Management LLC now owns 16,828,420 shares of the fast-food giant’s stock worth $4,901,595,000 after purchasing an additional 276,065 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of McDonald’s by 16.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 9,341,460 shares of the fast-food giant’s stock valued at $2,917,993,000 after buying an additional 1,344,954 shares during the last quarter. Northern Trust Corp lifted its position in shares of McDonald’s by 1.1% during the first quarter. Northern Trust Corp now owns 8,965,159 shares of the fast-food giant’s stock valued at $2,800,447,000 after buying an additional 97,966 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of McDonald’s by 2.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,142,473 shares of the fast-food giant’s stock valued at $1,606,354,000 after buying an additional 123,454 shares in the last quarter. Institutional investors own 70.29% of the company’s stock.

McDonald’s Stock Up 0.2%

McDonald’s stock opened at $307.43 on Thursday. The company has a fifty day simple moving average of $303.72 and a 200-day simple moving average of $304.76. The firm has a market capitalization of $218.94 billion, a price-to-earnings ratio of 26.29, a PEG ratio of 3.23 and a beta of 0.50. McDonald’s Corporation has a 52-week low of $276.53 and a 52-week high of $326.32.

McDonald’s (NYSE:MCD) last posted its quarterly earnings results on Wednesday, November 5th. The fast-food giant reported $3.22 EPS for the quarter, missing the consensus estimate of $3.33 by ($0.11). McDonald’s had a negative return on equity of 225.52% and a net margin of 32.21%.The company had revenue of $7.08 billion for the quarter, compared to analysts’ expectations of $7.10 billion. During the same quarter in the prior year, the firm earned $3.23 EPS. The firm’s revenue was up 3.0% on a year-over-year basis. On average, research analysts anticipate that McDonald’s Corporation will post 12.25 EPS for the current fiscal year.

McDonald’s Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be issued a $1.86 dividend. The ex-dividend date is Monday, December 1st. This represents a $7.44 annualized dividend and a dividend yield of 2.4%. This is an increase from McDonald’s’s previous quarterly dividend of $1.77. McDonald’s’s dividend payout ratio (DPR) is currently 63.48%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on MCD shares. Truist Financial decreased their target price on shares of McDonald’s from $360.00 to $350.00 and set a “buy” rating for the company in a research report on Tuesday, October 14th. Bank of America decreased their target price on shares of McDonald’s from $327.00 to $322.00 and set a “neutral” rating for the company in a research report on Friday, July 18th. 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. 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 report on Friday, August 22nd. Finally, JPMorgan Chase & Co. raised their price objective on shares of McDonald’s from $305.00 to $310.00 and gave the stock an “overweight” rating in a research note on Thursday, August 7th. Eleven investment analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $323.91.

Insider Activity at McDonald’s

In other McDonald’s news, CMO Edith Morgan Flatley sold 1,000 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $315.00, for a total transaction of $315,000.00. Following the sale, the chief marketing officer directly owned 6,858 shares in the company, valued at $2,160,270. This represents a 12.73% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Manuel Jm Steijaert sold 13,134 shares of the business’s stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $300.42, for a total transaction of $3,945,716.28. Following the completion of the transaction, the executive vice president owned 4,606 shares of the company’s stock, valued at approximately $1,383,734.52. This trade represents a 74.04% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 15,134 shares of company stock worth $4,570,716. 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.