Fortitude Family Office LLC Sells 756 Shares of McDonald’s Corporation $MCD

Fortitude Family Office LLC reduced its position in shares of McDonald’s Corporation (NYSE:MCD) by 29.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,835 shares of the fast-food giant’s stock after selling 756 shares during the quarter. Fortitude Family Office LLC’s holdings in McDonald’s were worth $536,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of McDonald’s by 0.3% in the first quarter. Vanguard Group Inc. now owns 70,409,095 shares of the fast-food giant’s stock valued at $21,993,689,000 after purchasing an additional 239,753 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of 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 valued at $2,917,993,000 after purchasing an additional 1,344,954 shares during the period. Northern Trust Corp raised its position in shares of McDonald’s by 1.1% in the first quarter. Northern Trust Corp now owns 8,965,159 shares of the fast-food giant’s stock valued at $2,800,447,000 after purchasing an additional 97,966 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of McDonald’s by 2.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,142,473 shares of the fast-food giant’s stock valued at $1,606,354,000 after purchasing an additional 123,454 shares during the period. Finally, Goldman Sachs Group Inc. raised its position 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 purchasing an additional 815,768 shares during the period. 70.29% of the stock is owned by institutional investors.

McDonald’s Price Performance

NYSE:MCD opened at $303.47 on Tuesday. The firm’s 50 day simple moving average is $306.09 and its 200 day simple moving average is $306.29. McDonald’s Corporation has a one year low of $276.53 and a one year high of $326.32. The company has a market cap of $216.56 billion, a PE ratio of 26.00, a P/E/G ratio of 3.08 and a beta of 0.49.

McDonald’s (NYSE:MCD) last posted its earnings results on Wednesday, August 6th. The fast-food giant reported $3.19 EPS for the quarter, topping the consensus estimate of $3.15 by $0.04. McDonald’s had a net margin of 32.21% and a negative return on equity of 225.52%. The business had revenue of $6.84 billion for the quarter, compared to the consensus estimate of $6.68 billion. During the same period last year, the company earned $2.97 EPS. The firm’s revenue was up 5.4% compared to the same quarter last year. Equities research analysts expect that McDonald’s Corporation will post 12.25 EPS for the current year.

McDonald’s Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd were given a dividend of $1.77 per share. The ex-dividend date was Tuesday, September 2nd. This represents a $7.08 annualized dividend and a yield of 2.3%. McDonald’s’s dividend payout ratio (DPR) is currently 60.67%.

Insider Activity

In other McDonald’s news, CMO Edith Morgan Flatley sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 10th. The shares were sold at an average price of $300.00, for a total transaction of $300,000.00. Following the completion of the transaction, the chief marketing officer owned 8,858 shares in the company, valued at approximately $2,657,400. This trade represents a 10.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Desiree Ralls-Morrison sold 2,487 shares of the firm’s stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $310.00, for a total transaction of $770,970.00. Following the transaction, the executive vice president owned 8,754 shares of the company’s stock, valued at approximately $2,713,740. The trade was a 22.12% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,402 shares of company stock worth $2,273,407 in the last 90 days. 0.25% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Redburn Atlantic reissued a “sell” rating and issued a $260.00 price objective (down from $319.00) on shares of McDonald’s in a research report on Tuesday, June 10th. Argus lowered shares of McDonald’s from a “buy” rating to a “hold” rating in a research report on Friday, June 13th. Morgan Stanley upped their price target on shares of McDonald’s from $324.00 to $326.00 and gave the company an “equal weight” rating in a research note on Monday, July 14th. Guggenheim restated a “neutral” rating on shares of McDonald’s in a research note on Friday, August 8th. Finally, Citigroup upped their price target on shares of McDonald’s from $373.00 to $381.00 and gave the company a “buy” rating in a research note on Wednesday, September 17th. Eleven investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, McDonald’s has a consensus rating of “Hold” and an average target price of $325.86.

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.