Robertson Stephens Wealth Management LLC Decreases Stock Position in McDonald’s Corporation $MCD

Robertson Stephens Wealth Management LLC cut its holdings in McDonald’s Corporation (NYSE:MCD) by 4.9% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,560 shares of the fast-food giant’s stock after selling 496 shares during the period. Robertson Stephens Wealth Management LLC’s holdings in McDonald’s were worth $2,793,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in MCD. HFM Investment Advisors LLC purchased a new position in McDonald’s in the 1st quarter valued at about $26,000. Nova Wealth Management Inc. purchased a new position in McDonald’s in the 1st quarter valued at about $26,000. GFG Capital LLC purchased a new position in McDonald’s in the 2nd quarter valued at about $29,000. Abound Financial LLC purchased a new position in McDonald’s in the 1st quarter valued at about $30,000. Finally, Redmont Wealth Advisors LLC purchased a new position in McDonald’s in the 1st quarter valued at about $31,000. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Joseph M. Erlinger sold 939 shares of the stock in a transaction that occurred on Wednesday, July 23rd. The stock was 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 in the company, valued at approximately $2,780,165.67. This represents a 9.19% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CMO Edith Morgan Flatley sold 1,000 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $315.00, for a total value of $315,000.00. Following the transaction, the chief marketing officer owned 6,858 shares of the company’s stock, valued at approximately $2,160,270. This trade represents a 12.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,402 shares of company stock valued at $1,973,407. Corporate insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Guggenheim reduced their target price on shares of McDonald’s from $310.00 to $295.00 and set a “neutral” rating on the stock in a report on Friday. Bank of America cut their price objective on shares of McDonald’s from $327.00 to $322.00 and set a “neutral” rating on the stock in a report on Friday, July 18th. Evercore ISI increased their price objective on shares of McDonald’s from $350.00 to $360.00 and gave the stock an “outperform” rating in a report on Friday, August 8th. Citigroup increased their price objective on shares of McDonald’s from $373.00 to $381.00 and gave the stock a “buy” rating in a report on Wednesday, September 17th. Finally, KeyCorp reiterated an “overweight” rating and set a $335.00 price objective (up from $325.00) on shares of McDonald’s in a report on Thursday, August 7th. Eleven investment analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $325.18.

McDonald’s Stock Up 1.1%

Shares of NYSE:MCD opened at $297.07 on Friday. McDonald’s Corporation has a 52-week low of $276.53 and a 52-week high of $326.32. The company has a 50 day moving average of $306.31 and a two-hundred day moving average of $305.79. The company has a market capitalization of $211.99 billion, a price-to-earnings ratio of 25.46, a price-to-earnings-growth ratio of 3.09 and a beta of 0.50.

McDonald’s (NYSE:MCD) last issued its quarterly earnings data on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $6.84 billion during the quarter, compared to the consensus estimate of $6.68 billion. During the same quarter last year, the company earned $2.97 earnings per share. McDonald’s’s revenue for the quarter was up 5.4% on a year-over-year basis. On average, equities analysts anticipate that McDonald’s Corporation will post 12.25 earnings per share for the current year.

McDonald’s Dividend Announcement

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

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.