McDonald’s Corporation $MCD Shares Bought by SlateStone Wealth LLC

SlateStone Wealth LLC raised its stake in McDonald’s Corporation (NYSE:MCD) by 1.2% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 15,659 shares of the fast-food giant’s stock after buying an additional 187 shares during the period. SlateStone Wealth LLC’s holdings in McDonald’s were worth $4,575,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of MCD. First American Trust FSB lifted its stake in McDonald’s by 55.9% in the 1st 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 in the last quarter. Banque Transatlantique SA raised its holdings in shares of 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 in the last quarter. Hamilton Capital LLC boosted its position 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 valued at $982,000 after purchasing an additional 819 shares during the last quarter. Welch Group LLC increased its position in McDonald’s by 1.1% in the 2nd quarter. Welch Group LLC now owns 206,004 shares of the fast-food giant’s stock worth $60,188,000 after purchasing an additional 2,180 shares during the last quarter. Finally, Banque Cantonale Vaudoise bought a new position in shares of McDonald’s during the 1st quarter valued at $8,444,000. 70.29% of the stock is owned by institutional investors.

McDonald’s Stock Down 1.4%

McDonald’s stock opened at $304.99 on Tuesday. The business’s 50-day simple moving average is $303.02 and its 200 day simple moving average is $304.11. The stock has a market cap of $217.20 billion, a price-to-earnings ratio of 26.13, a P/E/G ratio of 3.23 and a beta of 0.50. McDonald’s Corporation has a 12-month low of $276.53 and a 12-month high of $326.32.

McDonald’s (NYSE:MCD) last issued its 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 net margin of 32.21% and a negative return on equity of 225.52%. The business had revenue of $7.08 billion for the quarter, compared to the consensus estimate of $7.10 billion. During the same quarter in the previous year, the firm posted $3.23 EPS. The business’s revenue was up 3.0% on a year-over-year basis. As a group, sell-side analysts expect that McDonald’s Corporation will post 12.25 EPS for the current year.

McDonald’s Increases Dividend

The company also recently declared 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. This is a positive change from McDonald’s’s previous quarterly dividend of $1.77. The ex-dividend date of this dividend is Monday, December 1st. This represents a $7.44 annualized dividend and a dividend yield of 2.4%. McDonald’s’s dividend payout ratio (DPR) is presently 63.48%.

Insider Activity

In other McDonald’s news, CFO Ian Frederick Borden sold 17,134 shares of McDonald’s stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $310.00, for a total transaction of $5,311,540.00. Following the transaction, the chief financial officer directly owned 26,353 shares in the company, valued at approximately $8,169,430. The trade was a 39.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Manuel Jm Steijaert sold 13,134 shares of the stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $300.42, for a total value of $3,945,716.28. Following the completion of the sale, the executive vice president owned 4,606 shares of the company’s stock, valued at $1,383,734.52. This trade represents a 74.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 34,463 shares of company stock worth $10,549,351 over the last quarter. Corporate insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on MCD. Weiss Ratings reiterated a “buy (b-)” rating on shares of McDonald’s in a report on Friday, October 31st. Barclays decreased their price target on shares of McDonald’s from $362.00 to $358.00 and set an “overweight” rating on the stock in a research report on Thursday, November 6th. JPMorgan Chase & Co. lifted their target price on McDonald’s from $305.00 to $310.00 and gave the stock an “overweight” rating in a research report on Thursday, August 7th. Morgan Stanley set a $335.00 price objective on shares of McDonald’s in a report on Friday, October 17th. Finally, KeyCorp restated an “overweight” rating and set a $335.00 target price on shares of McDonald’s in a research report on Monday, October 20th. Eleven analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, McDonald’s presently has a consensus rating of “Hold” and a consensus target price of $324.57.

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.