Checchi Capital Advisers LLC Decreases Stock Position in McDonald’s Corporation $MCD

Checchi Capital Advisers LLC reduced its position in shares of McDonald’s Corporation (NYSE:MCD) by 3.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,726 shares of the fast-food giant’s stock after selling 309 shares during the period. Checchi Capital Advisers LLC’s holdings in McDonald’s were worth $2,842,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of MCD. Nuveen LLC purchased a new position in McDonald’s during the first quarter worth about $1,324,961,000. Price T Rowe Associates Inc. MD increased 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 buying an additional 1,344,954 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of McDonald’s by 19.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,982,825 shares of the fast-food giant’s stock worth $1,556,485,000 after purchasing an additional 815,768 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its position in McDonald’s by 732.6% during the first quarter. T. Rowe Price Investment Management Inc. now owns 650,544 shares of the fast-food giant’s stock worth $203,211,000 after buying an additional 572,408 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in shares of McDonald’s by 204.8% during the second quarter. Assenagon Asset Management S.A. now owns 607,145 shares of the fast-food giant’s stock worth $177,390,000 after buying an additional 407,982 shares in the last quarter. Hedge funds and other institutional investors own 70.29% of the company’s stock.

McDonald’s Trading Up 0.3%

NYSE MCD opened at $300.72 on Friday. The stock’s 50-day moving average price is $306.93 and its two-hundred day moving average price is $306.16. McDonald’s Corporation has a 1 year low of $276.53 and a 1 year high of $326.32. The company has a market cap of $214.59 billion, a PE ratio of 25.77, a PEG ratio of 3.07 and a beta of 0.50.

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

McDonald’s Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd were given a $1.77 dividend. This represents a $7.08 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend was Tuesday, September 2nd. McDonald’s’s dividend payout ratio is currently 60.67%.

Insider Transactions at McDonald’s

In related news, insider Joseph M. Erlinger sold 939 shares of McDonald’s stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $299.49, for a total transaction of $281,221.11. Following the completion of the transaction, the insider directly owned 9,283 shares of the company’s stock, valued at $2,780,165.67. This trade represents a 9.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Desiree Ralls-Morrison sold 2,487 shares of McDonald’s stock in a transaction that occurred 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 owned 8,754 shares of the company’s stock, valued at $2,713,740. This trade represents 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 over the last 90 days. Insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on MCD shares. Evercore ISI boosted their target price 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. Morgan Stanley increased their target price on McDonald’s from $324.00 to $326.00 and gave the company an “equal weight” rating in a research note on Monday, July 14th. Piper Sandler raised their price target on shares of McDonald’s from $314.00 to $325.00 and gave the stock a “neutral” rating in a research report on Thursday, August 7th. Weiss Ratings reiterated a “buy (b)” rating on shares of McDonald’s in a research note on Saturday, September 27th. Finally, The Goldman Sachs Group upgraded shares of McDonald’s from a “neutral” rating to a “buy” rating and set a $345.00 price objective on the stock in a research report on Thursday, July 10th. Twelve 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, the stock currently has an average rating of “Hold” and an average target price of $325.86.

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.