Baker Avenue Asset Management LP Decreases Stock Holdings in McDonald’s Corporation $MCD

Baker Avenue Asset Management LP trimmed its stake in McDonald’s Corporation (NYSE:MCD) by 88.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,016 shares of the fast-food giant’s stock after selling 23,775 shares during the quarter. Baker Avenue Asset Management LP’s holdings in McDonald’s were worth $881,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently added to or reduced their stakes in the company. Decker Retirement Planning Inc. grew its position in shares of McDonald’s by 142.9% in the second quarter. Decker Retirement Planning Inc. now owns 85 shares of the fast-food giant’s stock valued at $25,000 after purchasing an additional 50 shares in the last quarter. Legacy Investment Solutions LLC purchased a new position in McDonald’s in the 2nd quarter worth approximately $25,000. HFM Investment Advisors LLC purchased a new stake in McDonald’s during the first quarter valued at about $26,000. Nova Wealth Management Inc. bought a new stake in McDonald’s in the 1st quarter worth approximately $26,000. Finally, GFG Capital LLC bought a new stake in shares of McDonald’s in the 2nd quarter worth approximately $29,000. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Barclays decreased their target price on shares of McDonald’s from $362.00 to $358.00 and set an “overweight” rating on the stock in a research note on Thursday, November 6th. Truist Financial lowered their target price on McDonald’s from $360.00 to $350.00 and set a “buy” rating for the company in a research note on Tuesday, October 14th. Morgan Stanley set a $335.00 target price on shares of McDonald’s in a research report on Friday, October 17th. Piper Sandler reissued a “neutral” rating and set a $325.00 price target on shares of McDonald’s in a research report on Wednesday, October 22nd. Finally, Guggenheim upped their price objective on shares of McDonald’s from $295.00 to $310.00 and gave the stock a “neutral” rating in a report on Wednesday, November 19th. Eleven investment analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $324.57.

McDonald’s Stock Down 0.5%

Shares of NYSE MCD opened at $309.57 on Tuesday. The firm has a market cap of $220.46 billion, a P/E ratio of 26.41, a PEG ratio of 3.46 and a beta of 0.52. McDonald’s Corporation has a twelve month low of $276.53 and a twelve month high of $326.32. The company has a 50 day moving average of $304.14 and a 200 day moving average of $303.70.

McDonald’s (NYSE:MCD) last posted its quarterly earnings results on Wednesday, November 5th. The fast-food giant reported $3.22 earnings per share for the quarter, missing the consensus estimate of $3.33 by ($0.11). The business had revenue of $7.08 billion during the quarter, compared to analysts’ expectations of $7.10 billion. McDonald’s had a negative return on equity of 280.89% and a net margin of 32.04%.The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.23 EPS. As a group, equities analysts expect that McDonald’s Corporation will post 12.25 earnings per share for the current fiscal year.

McDonald’s Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be paid a dividend of $1.86 per share. The ex-dividend date is Monday, December 1st. This represents a $7.44 annualized dividend and a 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%.

Insider Activity

In related news, CFO Ian Frederick Borden sold 17,134 shares of the firm’s stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $310.00, for a total value of $5,311,540.00. Following the sale, the chief financial officer owned 26,353 shares in the company, valued at approximately $8,169,430. This trade represents a 39.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Joseph M. Erlinger sold 3,195 shares of the business’s stock in a transaction on Friday, November 14th. The shares were sold at an average price of $305.82, for a total transaction of $977,094.90. Following the sale, the insider owned 6,088 shares of the company’s stock, valued at approximately $1,861,832.16. This represents a 34.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 40,030 shares of company stock valued at $12,240,570 in the last 90 days. 0.25% of the stock is currently owned by insiders.

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.