TBH Global Asset Management LLC Reduces Position in McDonald’s Corporation $MCD

TBH Global Asset Management LLC trimmed its position in McDonald’s Corporation (NYSE:MCD) by 8.1% during the 2nd quarter, Holdings Channel.com reports. The fund owned 2,840 shares of the fast-food giant’s stock after selling 251 shares during the period. TBH Global Asset Management LLC’s holdings in McDonald’s were worth $830,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Nova Wealth Management Inc. acquired a new position in shares of McDonald’s in the first quarter valued at about $26,000. HFM Investment Advisors LLC purchased a new stake in McDonald’s in the first quarter valued at approximately $26,000. Mascagni Wealth Management Inc. acquired a new position in McDonald’s in the 4th quarter worth approximately $25,000. Abound Financial LLC purchased a new position in McDonald’s during the 1st quarter worth approximately $30,000. Finally, Redmont Wealth Advisors LLC purchased a new position in McDonald’s during the 1st quarter worth approximately $31,000. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Guggenheim reaffirmed a “neutral” rating on shares of McDonald’s in a report on Friday, August 8th. TD Securities reaffirmed a “hold” rating and issued a $305.00 price target on shares of McDonald’s in a report on Thursday, June 5th. BMO Capital Markets lifted their price objective on McDonald’s from $350.00 to $360.00 and gave the company an “outperform” rating in a research note on Thursday, September 4th. Piper Sandler upped their target price on McDonald’s from $314.00 to $325.00 and gave the stock a “neutral” rating in a research note on Thursday, August 7th. Finally, Morgan Stanley lifted their price target on McDonald’s from $324.00 to $326.00 and gave the company an “equal weight” rating in a research report on Monday, July 14th. Eleven analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $325.86.

Insider Activity at McDonald’s

In other McDonald’s news, EVP Desiree Ralls-Morrison sold 2,487 shares of the company’s stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $310.00, for a total transaction of $770,970.00. Following the completion of the transaction, the executive vice president directly owned 8,754 shares in the company, valued at approximately $2,713,740. This represents a 22.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Jonathan Banner sold 1,000 shares of the stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $310.00, for a total transaction of $310,000.00. Following the transaction, the executive vice president directly owned 99 shares in the company, valued at approximately $30,690. The trade was a 90.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,402 shares of company stock worth $2,273,407 in the last quarter. 0.25% of the stock is owned by insiders.

McDonald’s Stock Up 0.9%

NYSE:MCD opened at $305.10 on Friday. McDonald’s Corporation has a 52 week low of $276.53 and a 52 week high of $326.32. The stock’s 50-day moving average price is $306.48 and its 200-day moving average price is $306.19. The stock has a market capitalization of $217.72 billion, a PE ratio of 26.14, a price-to-earnings-growth ratio of 3.11 and a beta of 0.50.

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

McDonald’s Announces Dividend

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

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.