Harbour Capital Advisors LLC Cuts Stock Position in McDonald’s Corporation (NYSE:MCD)

Harbour Capital Advisors LLC decreased its position in shares of McDonald’s Corporation (NYSE:MCD) by 2.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,472 shares of the fast-food giant’s stock after selling 70 shares during the period. Harbour Capital Advisors LLC’s holdings in McDonald’s were worth $1,105,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC raised its stake in McDonald’s by 21.6% in the fourth quarter. Brighton Jones LLC now owns 9,286 shares of the fast-food giant’s stock valued at $2,692,000 after buying an additional 1,649 shares during the last quarter. Revolve Wealth Partners LLC increased its holdings in shares of McDonald’s by 2.8% during the fourth quarter. Revolve Wealth Partners LLC now owns 1,942 shares of the fast-food giant’s stock valued at $563,000 after acquiring an additional 52 shares in the last quarter. Bank Pictet & Cie Europe AG increased its holdings in shares of McDonald’s by 15.3% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 209,464 shares of the fast-food giant’s stock valued at $60,722,000 after acquiring an additional 27,774 shares in the last quarter. Fisher Funds Management LTD purchased a new position in shares of McDonald’s in the 4th quarter valued at approximately $1,882,000. Finally, TCW Group Inc. boosted its stake in McDonald’s by 2.4% in the 4th quarter. TCW Group Inc. now owns 12,960 shares of the fast-food giant’s stock worth $3,757,000 after purchasing an additional 305 shares in the last quarter. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Insider Buying and Selling at McDonald’s

In other news, insider Joseph M. Erlinger sold 939 shares of the business’s stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $315.07, for a total transaction of $295,850.73. Following the completion of the sale, the insider now owns 11,161 shares of the company’s stock, valued at $3,516,496.27. The trade was a 7.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 2,817 shares of company stock valued at $865,843 over the last ninety days. Corporate insiders own 0.25% of the company’s stock.

McDonald’s Trading Up 0.7%

NYSE MCD opened at $289.42 on Tuesday. The stock has a market capitalization of $206.94 billion, a price-to-earnings ratio of 25.54, a PEG ratio of 3.00 and a beta of 0.56. The stock has a 50-day moving average of $310.02 and a 200 day moving average of $302.79. McDonald’s Corporation has a twelve month low of $243.53 and a twelve month high of $326.32.

McDonald’s (NYSE:MCD) last announced its earnings results on Thursday, May 1st. The fast-food giant reported $2.67 earnings per share for the quarter, hitting the consensus estimate of $2.67. McDonald’s had a negative return on equity of 195.27% and a net margin of 31.75%. The business had revenue of $5.96 billion during the quarter, compared to the consensus estimate of $6.17 billion. During the same period in the prior year, the company posted $2.70 EPS. The business’s quarterly revenue was down 3.5% on a year-over-year basis. Equities analysts predict that McDonald’s Corporation will post 12.25 EPS for the current fiscal year.

McDonald’s Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were given a dividend of $1.77 per share. This represents a $7.08 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date of this dividend was Monday, June 2nd. McDonald’s’s dividend payout ratio is presently 62.49%.

Analyst Ratings Changes

A number of research analysts have issued reports on MCD shares. BMO Capital Markets restated an “outperform” rating and set a $345.00 price target (up previously from $340.00) on shares of McDonald’s in a research note on Monday, May 5th. Loop Capital lowered shares of McDonald’s from a “buy” rating to a “hold” rating and dropped their price objective for the company from $346.00 to $315.00 in a report on Friday, June 6th. KeyCorp raised their target price on McDonald’s from $335.00 to $340.00 and gave the stock an “overweight” rating in a research note on Thursday, March 27th. Robert W. Baird lifted their price target on McDonald’s from $300.00 to $315.00 and gave the stock a “neutral” rating in a research report on Friday, May 2nd. Finally, BTIG Research reiterated a “neutral” rating on shares of McDonald’s in a research note on Tuesday, April 22nd. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, McDonald’s has an average rating of “Hold” and a consensus price target of $321.79.

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.