Purkiss Capital Advisors LLC Decreases Position in McDonald’s Corporation $MCD

Purkiss Capital Advisors LLC trimmed its position in McDonald’s Corporation (NYSE:MCD) by 2.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,627 shares of the fast-food giant’s stock after selling 58 shares during the period. Purkiss Capital Advisors LLC’s holdings in McDonald’s were worth $768,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. WealthPlan Investment Management LLC boosted its stake in shares of McDonald’s by 0.9% in the first quarter. WealthPlan Investment Management LLC now owns 3,630 shares of the fast-food giant’s stock worth $1,134,000 after acquiring an additional 32 shares during the last quarter. Security Financial Services INC. boosted its stake in McDonald’s by 0.7% during the 1st quarter. Security Financial Services INC. now owns 5,043 shares of the fast-food giant’s stock worth $1,575,000 after purchasing an additional 33 shares during the last quarter. Ascent Wealth Partners LLC grew its holdings in shares of McDonald’s by 0.3% during the first quarter. Ascent Wealth Partners LLC now owns 11,588 shares of the fast-food giant’s stock worth $3,620,000 after buying an additional 34 shares in the last quarter. Platform Technology Partners grew its holdings in shares of McDonald’s by 0.4% during the first quarter. Platform Technology Partners now owns 8,617 shares of the fast-food giant’s stock worth $2,692,000 after buying an additional 35 shares in the last quarter. Finally, Alexander Labrunerie & CO. Inc. raised its position in shares of McDonald’s by 3.4% in the first quarter. Alexander Labrunerie & CO. Inc. now owns 1,070 shares of the fast-food giant’s stock valued at $334,000 after buying an additional 35 shares during the last quarter. Institutional investors and hedge funds own 70.29% of the company’s stock.

Insider Activity at McDonald’s

In related news, CMO Edith Morgan Flatley sold 1,000 shares of the business’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $315.00, for a total value of $315,000.00. Following the sale, the chief marketing officer directly owned 6,858 shares in the company, valued at approximately $2,160,270. The trade was a 12.73% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Desiree Ralls-Morrison sold 2,487 shares of the stock in a transaction dated 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 directly owned 8,754 shares of the company’s stock, valued at approximately $2,713,740. This trade represents a 22.12% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,463 shares of company stock worth $1,692,186. Company insiders own 0.25% of the company’s stock.

McDonald’s Stock Performance

MCD stock opened at $309.97 on Tuesday. McDonald’s Corporation has a one year low of $276.53 and a one year high of $326.32. The firm has a market cap of $221.19 billion, a PE ratio of 26.56, a PEG ratio of 3.23 and a beta of 0.50. The firm’s 50 day moving average price is $306.52 and its 200-day moving average price is $305.71.

McDonald’s (NYSE:MCD) last issued its quarterly earnings data on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $6.68 billion. During the same period in the prior year, the business posted $2.97 earnings per share. The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. Equities research analysts predict that McDonald’s Corporation will post 12.25 EPS for the current fiscal year.

McDonald’s Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be given a dividend of $1.86 per share. This represents a $7.44 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Monday, December 1st. This is a positive change from McDonald’s’s previous quarterly dividend of $1.77. McDonald’s’s dividend payout ratio is 60.67%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on MCD shares. JPMorgan Chase & Co. upped their price objective on shares of McDonald’s from $305.00 to $310.00 and gave the company an “overweight” rating in a research note on Thursday, August 7th. Weiss Ratings restated a “buy (b)” rating on shares of McDonald’s in a report on Wednesday, October 8th. KeyCorp restated an “overweight” rating and issued a $335.00 price target on shares of McDonald’s in a research report on Monday, October 20th. Barclays lifted their price objective on McDonald’s from $360.00 to $362.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 22nd. Finally, The Goldman Sachs Group raised McDonald’s from a “neutral” rating to a “buy” rating and set a $345.00 price objective on the stock in a research note on Thursday, July 10th. Eleven equities research 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, McDonald’s presently has a consensus rating of “Hold” and an average price target of $323.43.

About McDonald’s

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.