Global Wealth Management Investment Advisory Inc. Trims Holdings in McDonald’s Corporation $MCD

Global Wealth Management Investment Advisory Inc. decreased its position in shares of McDonald’s Corporation (NYSE:MCD) by 2.1% during the second quarter, Holdings Channel.com reports. The fund owned 13,115 shares of the fast-food giant’s stock after selling 280 shares during the quarter. Global Wealth Management Investment Advisory Inc.’s holdings in McDonald’s were worth $3,832,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Nuveen LLC bought a new position in McDonald’s in the 1st quarter worth $1,324,961,000. Price T Rowe Associates Inc. MD lifted 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 acquiring an additional 1,344,954 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of McDonald’s by 19.6% in the first quarter. Goldman Sachs Group Inc. now owns 4,982,825 shares of the fast-food giant’s stock valued at $1,556,485,000 after acquiring an additional 815,768 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its stake in shares of McDonald’s by 732.6% in 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 acquiring an additional 572,408 shares during the period. Finally, Assenagon Asset Management S.A. grew its position 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 purchasing an additional 407,982 shares in the last quarter. 70.29% of the stock is currently owned by institutional investors.

Insider Activity at McDonald’s

In related news, EVP Manuel Jm Steijaert sold 13,134 shares of the company’s stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $300.42, for a total transaction of $3,945,716.28. Following the transaction, the executive vice president directly owned 4,606 shares in the company, valued at approximately $1,383,734.52. This represents a 74.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Jonathan Banner sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $310.00, for a total transaction of $310,000.00. Following the completion of the sale, the executive vice president directly owned 99 shares of the company’s stock, valued at approximately $30,690. The trade was a 90.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 15,134 shares of company stock worth $4,570,716. Insiders own 0.25% of the company’s stock.

McDonald’s Stock Performance

Shares of McDonald’s stock opened at $299.71 on Friday. The stock has a market cap of $213.88 billion, a price-to-earnings ratio of 25.68, a price-to-earnings-growth ratio of 3.23 and a beta of 0.50. The stock has a 50 day moving average price of $304.39 and a 200-day moving average price of $305.04. McDonald’s Corporation has a one year low of $276.53 and a one year high of $326.32.

McDonald’s (NYSE:MCD) last released its quarterly earnings results on Wednesday, November 5th. The fast-food giant reported $3.22 earnings per share for the quarter, missing the consensus estimate of $3.33 by ($0.11). The company had revenue of $7.08 billion for the quarter, compared to analysts’ expectations of $7.10 billion. McDonald’s had a net margin of 32.21% and a negative return on equity of 225.52%. The business’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.23 EPS. Sell-side analysts predict that McDonald’s Corporation will post 12.25 earnings per share for the current fiscal year.

McDonald’s Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be paid a dividend of $1.86 per share. The ex-dividend date of this dividend is Monday, December 1st. This represents a $7.44 dividend on an annualized basis and a dividend yield of 2.5%. This is a boost from McDonald’s’s previous quarterly dividend of $1.77. McDonald’s’s dividend payout ratio is presently 63.48%.

Analysts Set New Price Targets

A number of research analysts recently commented on MCD shares. Stifel Nicolaus boosted their price target on McDonald’s from $300.00 to $315.00 and gave the stock a “hold” rating in a report on Friday, August 22nd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of McDonald’s in a research note on Friday, October 31st. Wells Fargo & Company increased their price objective on shares of McDonald’s from $340.00 to $345.00 and gave the company an “overweight” rating in a report on Thursday. TD Cowen boosted their target price on McDonald’s from $305.00 to $315.00 and gave the stock a “hold” rating in a research report on Wednesday, August 6th. Finally, Mizuho upgraded McDonald’s to a “hold” rating in a report on Tuesday, October 28th. Eleven analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, McDonald’s currently has a consensus rating of “Hold” and a consensus price target of $323.91.

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.