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

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

Several other institutional investors also recently bought and sold shares of MCD. First American Trust FSB grew its holdings in shares of McDonald’s by 55.9% in the first quarter. First American Trust FSB now owns 36,917 shares of the fast-food giant’s stock valued at $11,532,000 after purchasing an additional 13,234 shares in the last quarter. Banque Transatlantique SA boosted its position in McDonald’s by 58.0% in the 1st quarter. Banque Transatlantique SA now owns 248,826 shares of the fast-food giant’s stock valued at $71,829,000 after buying an additional 91,313 shares during the period. Hamilton Capital LLC grew its stake in shares of McDonald’s by 35.2% in the first quarter. Hamilton Capital LLC now owns 3,145 shares of the fast-food giant’s stock worth $982,000 after acquiring an additional 819 shares in the last quarter. Welch Group LLC increased its position in shares of McDonald’s by 1.1% during the second quarter. Welch Group LLC now owns 206,004 shares of the fast-food giant’s stock worth $60,188,000 after acquiring an additional 2,180 shares during the period. Finally, Red Door Wealth Management LLC raised its stake in shares of McDonald’s by 1.9% in the first quarter. Red Door Wealth Management LLC now owns 5,724 shares of the fast-food giant’s stock valued at $1,788,000 after acquiring an additional 109 shares in the last quarter. 70.29% of the stock is owned by institutional investors and hedge funds.

McDonald’s Stock Up 1.4%

Shares of McDonald’s stock opened at $309.97 on Tuesday. McDonald’s Corporation has a 52 week low of $276.53 and a 52 week high of $326.32. The firm’s 50 day moving average is $306.52 and its two-hundred day moving average is $305.71. The firm has a market capitalization of $221.19 billion, a P/E ratio of 26.56, a P/E/G ratio of 3.23 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 for the quarter, topping 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 business had revenue of $6.84 billion during the quarter, compared to the consensus estimate of $6.68 billion. During the same quarter in the previous year, the firm earned $2.97 EPS. The company’s revenue was up 5.4% compared to the same quarter last year. As a group, research analysts expect that McDonald’s Corporation will post 12.25 earnings per share for the current fiscal year.

McDonald’s Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be paid a $1.86 dividend. This is a boost from McDonald’s’s previous quarterly dividend of $1.77. This represents a $7.44 annualized dividend and a yield of 2.4%. The ex-dividend date is Monday, December 1st. McDonald’s’s payout ratio is currently 60.67%.

Wall Street Analyst Weigh In

MCD has been the subject of a number of recent research reports. Bank of America decreased their target price on McDonald’s from $327.00 to $322.00 and set a “neutral” rating for the company in a report on Friday, July 18th. The Goldman Sachs Group raised McDonald’s from a “neutral” rating to a “buy” rating and set a $345.00 price objective for the company in a research report on Thursday, July 10th. Guggenheim cut their target price on shares of McDonald’s from $310.00 to $295.00 and set a “neutral” rating on the stock in a research note on Friday, October 10th. KeyCorp reiterated an “overweight” rating and issued a $335.00 price target on shares of McDonald’s in a research note on Monday, October 20th. Finally, Evercore ISI boosted their price target 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. Eleven investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $323.43.

Insiders Place Their Bets

In related news, EVP Desiree Ralls-Morrison sold 2,487 shares of the firm’s stock in a transaction that occurred on 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 owned 8,754 shares in the company, valued at $2,713,740. This trade represents a 22.12% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Jonathan Banner sold 1,000 shares of McDonald’s stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $310.00, for a total value of $310,000.00. Following the transaction, the executive vice president directly owned 99 shares in the company, valued at approximately $30,690. This trade represents a 90.99% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,463 shares of company stock valued at $1,692,186. 0.25% of the stock is currently owned by insiders.

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.