McDonald’s Corporation $MCD Stake Lowered by Bank Pictet & Cie Europe AG

Bank Pictet & Cie Europe AG reduced its stake in shares of McDonald’s Corporation (NYSE:MCD) by 1.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 186,609 shares of the fast-food giant’s stock after selling 1,941 shares during the quarter. McDonald’s comprises approximately 1.1% of Bank Pictet & Cie Europe AG’s holdings, making the stock its 25th largest position. Bank Pictet & Cie Europe AG’s holdings in McDonald’s were worth $56,709,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Redhawk Wealth Advisors Inc. grew its position in McDonald’s by 1.4% in the 3rd quarter. Redhawk Wealth Advisors Inc. now owns 2,423 shares of the fast-food giant’s stock worth $736,000 after purchasing an additional 34 shares during the last quarter. Symmetry Partners LLC boosted its position in shares of McDonald’s by 2.0% during the third quarter. Symmetry Partners LLC now owns 1,771 shares of the fast-food giant’s stock worth $538,000 after buying an additional 34 shares during the period. Alaethes Wealth LLC grew its holdings in McDonald’s by 3.0% in the 1st quarter. Alaethes Wealth LLC now owns 1,219 shares of the fast-food giant’s stock worth $381,000 after buying an additional 35 shares in the last quarter. Sheets Smith Wealth Management boosted its position in McDonald’s by 1.0% during the 2nd quarter. Sheets Smith Wealth Management now owns 3,604 shares of the fast-food giant’s stock worth $1,053,000 after acquiring an additional 35 shares during the period. Finally, Sunbeam Capital Management LLC grew its stake in shares of McDonald’s by 3.2% in the second quarter. Sunbeam Capital Management LLC now owns 1,112 shares of the fast-food giant’s stock worth $325,000 after purchasing an additional 35 shares in the last quarter. Institutional investors and hedge funds own 70.29% of the company’s stock.

McDonald’s Price Performance

MCD stock opened at $305.65 on Friday. The firm has a market capitalization of $217.67 billion, a P/E ratio of 26.08, a P/E/G ratio of 3.40 and a beta of 0.53. McDonald’s Corporation has a 52-week low of $276.53 and a 52-week high of $326.32. The company’s 50 day simple moving average is $307.93 and its 200-day simple moving average is $304.21.

McDonald’s (NYSE:MCD) last posted its quarterly earnings data 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 firm had revenue of $7.08 billion for 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 company’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.23 earnings per share. Sell-side analysts predict that McDonald’s Corporation will post 12.25 EPS for the current fiscal year.

McDonald’s Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 1st were given a dividend of $1.86 per share. The ex-dividend date of this dividend was Monday, December 1st. This is a positive change from McDonald’s’s previous quarterly dividend of $1.77. This represents a $7.44 annualized dividend and a yield of 2.4%. McDonald’s’s payout ratio is presently 63.48%.

Insiders Place Their Bets

In other McDonald’s news, CFO Ian Frederick Borden sold 17,134 shares of the firm’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 completion of the sale, the chief financial officer directly owned 26,353 shares in the company, valued at approximately $8,169,430. This trade represents a 39.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Manuel Jm Steijaert sold 6,567 shares of the business’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $305.50, for a total transaction of $2,006,218.50. Following the transaction, the executive vice president directly owned 4,606 shares in the company, valued at $1,407,133. The trade was a 58.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 42,516 shares of company stock valued at $13,036,090 in the last 90 days. Insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on the stock. Royal Bank Of Canada assumed coverage on shares of McDonald’s in a research report on Wednesday, October 8th. They set a “sector perform” rating and a $320.00 price target on the stock. Guggenheim raised their price objective on shares of McDonald’s from $295.00 to $310.00 and gave the company a “neutral” rating in a research note on Wednesday, November 19th. Robert W. Baird lifted their price target on McDonald’s from $322.00 to $325.00 and gave the company a “neutral” rating in a research report on Thursday, November 6th. Wells Fargo & Company raised their target price on McDonald’s from $340.00 to $345.00 and gave the company an “overweight” rating in a research note on Thursday, November 6th. Finally, Barclays lowered their price objective 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. Eleven equities research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $324.57.

About McDonald’s

McDonald’s Corporation (NYSE: MCD) is a global quick-service restaurant company best known for its hamburgers, French fries and breakfast offerings. The company develops, operates and franchises a system of restaurants that sell a range of food and beverage items, including signature products such as the Big Mac, Quarter Pounder, Chicken McNuggets, McCafé coffee beverages and a variety of salads, desserts and seasonal menu items. McDonald’s serves customers through company-operated restaurants and franchised locations, and it supports sales via dine-in, drive-thru, digital ordering platforms and third-party delivery partnerships.

Founded in 1940 by brothers Richard and Maurice McDonald as a single San Bernardino, California restaurant, the business was transformed into a franchising model after Ray Kroc joined in the mid-1950s and led the brand’s national and international expansion.