AlTi Global Inc. Sells 497 Shares of McDonald’s Co. (NYSE:MCD)

AlTi Global Inc. lessened its stake in McDonald’s Co. (NYSE:MCD) by 1.7% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,153 shares of the fast-food giant’s stock after selling 497 shares during the quarter. AlTi Global Inc.’s holdings in McDonald’s were worth $7,175,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Concentric Wealth Management LLC lifted its holdings in shares of McDonald’s by 1.4% during the 4th quarter. Concentric Wealth Management LLC now owns 2,551 shares of the fast-food giant’s stock valued at $756,000 after buying an additional 35 shares during the period. FinTrust Capital Advisors LLC raised its holdings in McDonald’s by 2.9% in the 4th quarter. FinTrust Capital Advisors LLC now owns 1,268 shares of the fast-food giant’s stock worth $376,000 after purchasing an additional 36 shares during the period. 9258 Wealth Management LLC raised its holdings in McDonald’s by 1.3% in the 1st quarter. 9258 Wealth Management LLC now owns 2,833 shares of the fast-food giant’s stock worth $799,000 after purchasing an additional 37 shares during the period. Independence Bank of Kentucky raised its holdings in McDonald’s by 1.3% in the 1st quarter. Independence Bank of Kentucky now owns 2,913 shares of the fast-food giant’s stock worth $821,000 after purchasing an additional 38 shares during the period. Finally, Weatherly Asset Management L. P. raised its holdings in McDonald’s by 0.9% in the 1st quarter. Weatherly Asset Management L. P. now owns 4,378 shares of the fast-food giant’s stock worth $1,234,000 after purchasing an additional 38 shares during the period. Institutional investors own 70.29% of the company’s stock.

McDonald’s Trading Up 0.4 %

MCD opened at $300.27 on Wednesday. The firm has a market cap of $215.40 billion, a P/E ratio of 25.49, a P/E/G ratio of 3.99 and a beta of 0.72. McDonald’s Co. has a 12 month low of $243.53 and a 12 month high of $302.39. The stock has a 50-day moving average of $279.11 and a 200 day moving average of $270.68.

McDonald’s (NYSE:MCD) last released its quarterly earnings results on Monday, July 29th. The fast-food giant reported $2.97 EPS for the quarter, missing the consensus estimate of $3.07 by ($0.10). The company had revenue of $6.49 billion during the quarter, compared to analysts’ expectations of $6.62 billion. McDonald’s had a negative return on equity of 178.68% and a net margin of 32.25%. The company’s revenue was down .1% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.17 EPS. On average, research analysts forecast that McDonald’s Co. will post 11.69 earnings per share for the current fiscal year.

McDonald’s Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were paid a $1.67 dividend. This represents a $6.68 annualized dividend and a yield of 2.22%. The ex-dividend date was Tuesday, September 3rd. McDonald’s’s payout ratio is currently 56.71%.

Wall Street Analyst Weigh In

MCD has been the topic of a number of recent research reports. Guggenheim raised their target price on McDonald’s from $280.00 to $290.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Barclays decreased their target price on McDonald’s from $320.00 to $300.00 and set an “overweight” rating on the stock in a report on Tuesday, July 30th. Jefferies Financial Group raised their target price on McDonald’s from $310.00 to $330.00 and gave the stock a “buy” rating in a report on Monday, September 9th. The Goldman Sachs Group raised their price target on McDonald’s from $284.00 to $325.00 and gave the company a “neutral” rating in a report on Tuesday. Finally, Stifel Nicolaus decreased their price target on McDonald’s from $285.00 to $265.00 and set a “hold” rating on the stock in a report on Monday, July 22nd. Eleven analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $307.48.

Insiders Place Their Bets

In other McDonald’s news, insider Joseph M. Erlinger sold 1,098 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $288.70, for a total value of $316,992.60. Following the completion of the sale, the insider now owns 12,583 shares of the company’s stock, valued at $3,632,712.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other McDonald’s news, insider Joseph M. Erlinger sold 1,098 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $288.70, for a total value of $316,992.60. Following the completion of the sale, the insider now owns 12,583 shares of the company’s stock, valued at $3,632,712.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Marion K. Gross sold 1,498 shares of the firm’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $248.26, for a total transaction of $371,893.48. Following the completion of the sale, the executive vice president now directly owns 1,560 shares of the company’s stock, valued at approximately $387,285.60. The disclosure for this sale can be found here. Insiders sold a total of 12,231 shares of company stock valued at $3,513,659 over the last 90 days. Insiders own 0.23% of the company’s stock.

McDonald’s Company Profile

McDonald's Corporation operates and franchises restaurants under the McDonald's brand in the United States and internationally. It offers food and beverages, including hamburgers and cheeseburgers, various chicken sandwiches, fries, shakes, desserts, sundaes, cookies, pies, soft drinks, coffee, and other beverages; and full or limited breakfast, as well as sells various other products during limited-time promotions.