Boltwood Capital Management Sells 60 Shares of McDonald’s Corporation $MCD

Boltwood Capital Management lessened its position in McDonald’s Corporation (NYSE:MCD) by 3.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,925 shares of the fast-food giant’s stock after selling 60 shares during the period. Boltwood Capital Management’s holdings in McDonald’s were worth $562,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in MCD. Mascagni Wealth Management Inc. bought a new position in shares of McDonald’s in the fourth quarter worth approximately $25,000. HFM Investment Advisors LLC bought a new position in shares of McDonald’s in the first quarter worth approximately $26,000. Nova Wealth Management Inc. purchased a new position in shares of McDonald’s during the first quarter valued at approximately $26,000. Pinney & Scofield Inc. purchased a new position in shares of McDonald’s during the fourth quarter valued at approximately $29,000. Finally, Abound Financial LLC purchased a new position in shares of McDonald’s during the first quarter valued at approximately $30,000. Institutional investors own 70.29% of the company’s stock.

McDonald’s Trading Down 1.0%

Shares of MCD stock opened at $305.49 on Monday. McDonald’s Corporation has a 12 month low of $276.53 and a 12 month high of $326.32. The stock has a market cap of $218.00 billion, a P/E ratio of 26.18, a P/E/G ratio of 3.11 and a beta of 0.49. The company has a 50 day simple moving average of $305.33 and a two-hundred day simple moving average of $306.57.

McDonald’s (NYSE:MCD) last announced its earnings results on Wednesday, August 6th. The fast-food giant reported $3.19 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $6.68 billion. During the same period in the prior year, the company earned $2.97 earnings per share. The firm’s revenue was up 5.4% on a year-over-year basis. As a group, equities analysts forecast that McDonald’s Corporation will post 12.25 earnings per share for the current year.

McDonald’s Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd will be paid a dividend of $1.77 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.3%. McDonald’s’s payout ratio is 60.67%.

Insider Activity

In related news, insider Joseph M. Erlinger sold 939 shares of McDonald’s stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $299.49, for a total transaction of $281,221.11. Following the transaction, the insider owned 9,283 shares in the company, valued at approximately $2,780,165.67. The trade was a 9.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CMO Edith Morgan Flatley sold 1,000 shares of McDonald’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $315.00, for a total transaction of $315,000.00. Following the transaction, the chief marketing officer owned 6,858 shares in the company, valued at approximately $2,160,270. This trade represents a 12.73% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 8,341 shares of company stock worth $2,544,327 in the last quarter. Corporate insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Stifel Nicolaus boosted their price objective on shares of McDonald’s from $300.00 to $315.00 and gave the company a “hold” rating in a report on Friday, August 22nd. The Goldman Sachs Group raised shares of McDonald’s from a “neutral” rating to a “buy” rating and set a $345.00 price objective for the company in a report on Thursday, July 10th. TD Securities reissued a “hold” rating and set a $305.00 price objective on shares of McDonald’s in a report on Thursday, June 5th. Evercore ISI boosted their price objective on shares of McDonald’s from $350.00 to $360.00 and gave the company an “outperform” rating in a report on Friday, August 8th. Finally, Truist Financial boosted their price objective on shares of McDonald’s from $356.00 to $360.00 and gave the company a “buy” rating in a report on Thursday, August 7th. Eleven research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $325.14.

McDonald’s 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.