RB Capital Management LLC Cuts Stock Position in McDonald’s Corporation $MCD

RB Capital Management LLC lessened its stake in McDonald’s Corporation (NYSE:MCD) by 3.0% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,479 shares of the fast-food giant’s stock after selling 203 shares during the quarter. RB Capital Management LLC’s holdings in McDonald’s were worth $1,893,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Garde Capital Inc. increased its holdings in McDonald’s by 3.5% in the 2nd quarter. Garde Capital Inc. now owns 3,212 shares of the fast-food giant’s stock worth $939,000 after acquiring an additional 108 shares in the last quarter. Fiduciary Financial Group LLC raised its stake in McDonald’s by 1.4% in the 2nd quarter. Fiduciary Financial Group LLC now owns 5,245 shares of the fast-food giant’s stock valued at $1,560,000 after purchasing an additional 70 shares during the last quarter. Crumly & Associates Inc. raised its stake in McDonald’s by 11.6% in the 2nd quarter. Crumly & Associates Inc. now owns 1,014 shares of the fast-food giant’s stock valued at $296,000 after purchasing an additional 105 shares during the last quarter. Jacobs & Co. CA raised its stake in McDonald’s by 0.8% in the 2nd quarter. Jacobs & Co. CA now owns 42,787 shares of the fast-food giant’s stock valued at $12,501,000 after purchasing an additional 337 shares during the last quarter. Finally, Central Pacific Bank Trust Division raised its stake in McDonald’s by 12.5% in the 2nd quarter. Central Pacific Bank Trust Division now owns 2,898 shares of the fast-food giant’s stock valued at $847,000 after purchasing an additional 322 shares during the last quarter. 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 research reports. Evercore ISI increased 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. The Goldman Sachs Group raised McDonald’s from a “neutral” rating to a “buy” rating and set a $345.00 target price for the company in a research note on Thursday, July 10th. TD Cowen raised their target price on McDonald’s from $305.00 to $315.00 and gave the stock a “hold” rating in a research note on Wednesday, August 6th. Barclays raised their target price on McDonald’s from $355.00 to $360.00 and gave the stock an “overweight” rating in a research note on Thursday, August 7th. Finally, Bank of America cut their target price on McDonald’s from $327.00 to $322.00 and set a “neutral” rating for the company in a research note on Friday, July 18th. Eleven research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, McDonald’s presently has an average rating of “Hold” and a consensus target price of $325.14.

McDonald’s Trading Down 1.0%

Shares of NYSE:MCD opened at $305.49 on Friday. The business has a 50-day moving average price of $305.33 and a 200 day moving average price of $306.59. The company has a market capitalization of $218.00 billion, a price-to-earnings ratio of 26.18, a PEG ratio of 3.14 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 quarterly earnings data on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.15 by $0.04. McDonald’s had a negative return on equity of 225.52% and a net margin of 32.21%.The firm had revenue of $6.84 billion during the quarter, compared to the consensus estimate of $6.68 billion. During the same period last year, the company earned $2.97 EPS. The company’s quarterly revenue was up 5.4% on a year-over-year basis. As a group, equities research analysts predict that McDonald’s Corporation will post 12.25 earnings per share for the current fiscal year.

McDonald’s Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd will be issued a dividend of $1.77 per share. This represents a $7.08 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date is Tuesday, September 2nd. McDonald’s’s dividend payout ratio (DPR) is 60.67%.

Insider Buying and Selling

In other news, insider Joseph M. Erlinger sold 939 shares of the business’s stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $299.49, for a total transaction of $281,221.11. Following the completion of the transaction, the insider directly owned 9,283 shares of the company’s stock, valued at approximately $2,780,165.67. The trade was a 9.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Jonathan Banner sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $310.00, for a total transaction of $310,000.00. Following the sale, the executive vice president owned 99 shares of the company’s stock, valued at $30,690. This represents a 90.99% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 8,341 shares of company stock worth $2,544,327. 0.25% of the stock is owned by corporate insiders.

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.