Boston Family Office LLC Sells 214 Shares of McDonald’s Corporation $MCD

Boston Family Office LLC reduced its position in McDonald’s Corporation (NYSE:MCD) by 0.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 26,250 shares of the fast-food giant’s stock after selling 214 shares during the period. Boston Family Office LLC’s holdings in McDonald’s were worth $7,669,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of McDonald’s during the 2nd quarter valued at about $2,780,712,000. Laurel Wealth Advisors LLC boosted its holdings in shares of McDonald’s by 29,382.3% in the second quarter. Laurel Wealth Advisors LLC now owns 5,737,548 shares of the fast-food giant’s stock worth $1,676,339,000 after buying an additional 5,718,087 shares during the last quarter. Soundwatch Capital LLC bought a new stake in McDonald’s during the second quarter valued at approximately $1,412,069,000. Nuveen LLC purchased a new stake in McDonald’s during the first quarter valued at approximately $1,324,961,000. Finally, Price T Rowe Associates Inc. MD raised 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 acquiring an additional 1,344,954 shares during the period. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Insider Activity

In related news, CFO Ian Frederick Borden sold 17,134 shares of the company’s stock in a transaction dated Friday, November 21st. The shares were 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. This represents a 39.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CMO Edith Morgan Flatley sold 1,000 shares of the stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $315.00, for a total transaction of $315,000.00. Following the completion of the sale, the chief marketing officer directly owned 6,858 shares in the company, valued at $2,160,270. This trade represents a 12.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 34,463 shares of company stock valued at $10,549,351 in the last quarter. 0.25% of the stock is currently owned by company insiders.

McDonald’s Stock Performance

Shares of McDonald’s stock opened at $311.75 on Monday. The stock has a market cap of $222.01 billion, a price-to-earnings ratio of 26.71, a price-to-earnings-growth ratio of 3.23 and a beta of 0.50. The stock has a 50 day moving average price of $303.73 and a 200-day moving average price of $304.15. McDonald’s Corporation has a one year low of $276.53 and a one year high of $326.32.

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

McDonald’s Increases Dividend

The company also recently announced 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 boost from McDonald’s’s previous quarterly dividend of $1.77. The ex-dividend date 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 63.48%.

Wall Street Analyst Weigh In

MCD has been the subject of a number of recent research reports. Morgan Stanley set a $335.00 price objective on shares of McDonald’s in a research report on Friday, October 17th. Barclays lowered their target price on McDonald’s from $362.00 to $358.00 and set an “overweight” rating on the stock in a research report on Thursday, November 6th. Guggenheim upped their price target on McDonald’s from $295.00 to $310.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 19th. 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 report on Friday, August 8th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of McDonald’s in a research note on Friday, October 31st. 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’s stock. According to MarketBeat, McDonald’s presently has an average rating of “Hold” and an average target price of $324.57.

About McDonald’s

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.