Alteri Wealth LLC Sells 1,105 Shares of McDonald’s Corporation $MCD

Alteri Wealth LLC trimmed its position in shares of McDonald’s Corporation (NYSE:MCD) by 29.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,698 shares of the fast-food giant’s stock after selling 1,105 shares during the quarter. Alteri Wealth LLC’s holdings in McDonald’s were worth $788,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Nuveen LLC bought a new stake in shares of McDonald’s in the 1st quarter worth approximately $1,324,961,000. Price T Rowe Associates Inc. MD increased its position in McDonald’s by 16.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 9,341,460 shares of the fast-food giant’s stock worth $2,917,993,000 after buying an additional 1,344,954 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of McDonald’s by 1.3% in the second quarter. Vanguard Group Inc. now owns 71,331,031 shares of the fast-food giant’s stock valued at $20,840,787,000 after buying an additional 921,936 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of McDonald’s by 19.6% in the first quarter. Goldman Sachs Group Inc. now owns 4,982,825 shares of the fast-food giant’s stock valued at $1,556,485,000 after buying an additional 815,768 shares during the period. Finally, T. Rowe Price Investment Management Inc. lifted its position in shares of McDonald’s by 732.6% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 650,544 shares of the fast-food giant’s stock valued at $203,211,000 after buying an additional 572,408 shares during the last quarter. Institutional investors own 70.29% of the company’s stock.

McDonald’s Stock Performance

MCD stock opened at $304.83 on Wednesday. The firm has a market cap of $217.08 billion, a P/E ratio of 26.12, a P/E/G ratio of 3.23 and a beta of 0.50. The firm’s fifty day moving average is $303.05 and its 200 day moving average is $304.42. McDonald’s Corporation has a 52 week low of $276.53 and a 52 week high of $326.32.

McDonald’s (NYSE:MCD) last released its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $7.10 billion. During the same quarter in the prior year, the firm posted $3.23 EPS. The firm’s quarterly revenue was up 3.0% on a year-over-year basis. As a group, analysts forecast that McDonald’s Corporation will post 12.25 EPS for the current year.

McDonald’s Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be issued a dividend of $1.86 per share. The ex-dividend date is Monday, December 1st. This represents a $7.44 dividend on an annualized basis and a yield of 2.4%. This is a boost from McDonald’s’s previous quarterly dividend of $1.77. McDonald’s’s dividend payout ratio (DPR) is presently 63.48%.

Insider Activity at McDonald’s

In related news, EVP Manuel Jm Steijaert sold 13,134 shares of the company’s stock in a transaction that occurred 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 in the company, valued at $1,383,734.52. This represents a 74.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Joseph M. Erlinger sold 3,195 shares of the firm’s stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $305.82, for a total value of $977,094.90. Following the completion of the transaction, the insider owned 6,088 shares of the company’s stock, valued at approximately $1,861,832.16. The trade was a 34.42% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 17,329 shares of company stock worth $5,237,811 in the last 90 days. Company insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on MCD. Piper Sandler restated a “neutral” rating and issued a $325.00 target price on shares of McDonald’s in a research note on Wednesday, October 22nd. Evercore ISI increased their price target on shares of McDonald’s from $350.00 to $360.00 and gave the stock an “outperform” rating in a report on Friday, August 8th. Barclays cut their price objective on shares of McDonald’s from $362.00 to $358.00 and set an “overweight” rating for the company in a research report on Thursday, November 6th. Citigroup decreased their target price on shares of McDonald’s from $381.00 to $375.00 and set a “buy” rating on the stock in a report on Tuesday, October 21st. Finally, BTIG Research reiterated a “neutral” rating on shares of McDonald’s in a research note on Friday, October 24th. Eleven research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $323.91.

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.