Denali Advisors LLC Sells 3,840 Shares of McDonald’s Corporation $MCD

Denali Advisors LLC lessened its position in shares of McDonald’s Corporation (NYSE:MCD) by 38.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,234 shares of the fast-food giant’s stock after selling 3,840 shares during the quarter. Denali Advisors LLC’s holdings in McDonald’s were worth $1,894,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Decker Retirement Planning Inc. boosted its position in shares of McDonald’s by 142.9% in the 2nd quarter. Decker Retirement Planning Inc. now owns 85 shares of the fast-food giant’s stock worth $25,000 after purchasing an additional 50 shares in the last quarter. Legacy Investment Solutions LLC purchased a new stake in McDonald’s in the second quarter valued at about $25,000. Evergreen Private Wealth LLC boosted its holdings in McDonald’s by 162.5% in the third quarter. Evergreen Private Wealth LLC now owns 84 shares of the fast-food giant’s stock worth $26,000 after acquiring an additional 52 shares in the last quarter. Financial Gravity Companies Inc. purchased a new stake in shares of McDonald’s during the second quarter worth about $29,000. Finally, Traub Capital Management LLC acquired a new position in shares of McDonald’s during the second quarter valued at about $29,000. Hedge funds and other institutional investors own 70.29% of the company’s stock.

McDonald’s Stock Performance

NYSE:MCD opened at $327.58 on Tuesday. The firm’s fifty day moving average is $313.38 and its two-hundred day moving average is $308.53. The firm has a market cap of $233.29 billion, a price-to-earnings ratio of 27.41, a PEG ratio of 3.32 and a beta of 0.52. McDonald’s Corporation has a one year low of $283.47 and a one year high of $335.67.

McDonald’s (NYSE:MCD) last issued its quarterly earnings data on Wednesday, February 11th. The fast-food giant reported $3.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.05 by $0.07. McDonald’s had a negative return on equity of 343.90% and a net margin of 31.85%.The business had revenue of $7.01 billion during the quarter, compared to analysts’ expectations of $6.81 billion. During the same quarter in the previous year, the firm posted $2.83 EPS. The company’s revenue for the quarter was up 9.7% 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 17th. Shareholders of record on Tuesday, March 3rd will be given a $1.86 dividend. This represents a $7.44 annualized dividend and a yield of 2.3%. The ex-dividend date is Tuesday, March 3rd. McDonald’s’s dividend payout ratio is currently 62.26%.

Insider Activity

In related news, CFO Ian Frederick Borden sold 17,134 shares of the stock in a transaction on 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 sale, the chief financial officer directly owned 26,353 shares of the company’s stock, valued at approximately $8,169,430. This represents a 39.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Joseph M. Erlinger sold 2,626 shares of McDonald’s stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $325.25, for a total transaction of $854,106.50. Following the completion of the transaction, the insider directly owned 5,398 shares of the company’s stock, valued at $1,755,699.50. The trade was a 32.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 31,439 shares of company stock worth $9,772,464 over the last 90 days. Company insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on MCD. UBS Group boosted their target price on shares of McDonald’s from $350.00 to $365.00 and gave the stock a “buy” rating in a research report on Thursday. TD Cowen reissued a “hold” rating and set a $320.00 price objective on shares of McDonald’s in a report on Thursday, February 12th. Weiss Ratings reissued a “buy (b-)” rating on shares of McDonald’s in a research report on Wednesday, January 28th. Guggenheim lowered their price target on McDonald’s from $325.00 to $320.00 and set a “neutral” rating for the company in a research report on Friday. Finally, Jefferies Financial Group increased their price objective on McDonald’s from $360.00 to $375.00 and gave the company a “buy” rating in a report on Thursday. Fifteen equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $337.04.

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.