Alpha DNA Investment Management LLC Sells 9,561 Shares of McDonald’s Co. (NYSE:MCD)

Alpha DNA Investment Management LLC decreased its holdings in shares of McDonald’s Co. (NYSE:MCD) by 71.3% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,841 shares of the fast-food giant’s stock after selling 9,561 shares during the quarter. Alpha DNA Investment Management LLC’s holdings in McDonald’s were worth $979,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Dixon Mitchell Investment Counsel Inc. bought a new stake in shares of McDonald’s during the first quarter valued at approximately $28,000. Clear Investment Research LLC purchased a new stake in shares of McDonald’s in the 4th quarter worth $38,000. Kings Path Partners LLC bought a new position in shares of McDonald’s during the 2nd quarter worth $38,000. Accent Capital Management LLC purchased a new position in shares of McDonald’s during the fourth quarter valued at $44,000. Finally, Transcendent Capital Group LLC bought a new stake in shares of McDonald’s in the fourth quarter valued at about $45,000. Institutional investors own 70.29% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Ian Frederick Borden sold 5,939 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $300.04, for a total value of $1,781,937.56. Following the completion of the transaction, the chief financial officer now directly owns 20,403 shares in the company, valued at approximately $6,121,716.12. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, EVP Marion K. Gross sold 1,498 shares of the business’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $248.26, for a total value of $371,893.48. Following the completion of the sale, the executive vice president now directly owns 1,560 shares in the company, valued at $387,285.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Ian Frederick Borden sold 5,939 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $300.04, for a total value of $1,781,937.56. Following the transaction, the chief financial officer now directly owns 20,403 shares of the company’s stock, valued at $6,121,716.12. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,231 shares of company stock worth $3,513,659. Corporate insiders own 0.23% of the company’s stock.

Wall Street Analysts Forecast Growth

MCD has been the topic of a number of research reports. Evercore ISI raised their target price on shares of McDonald’s from $300.00 to $320.00 and gave the company an “outperform” rating in a research report on Monday, August 19th. Guggenheim lifted their price objective on shares of McDonald’s from $280.00 to $290.00 and gave the company a “buy” rating in a report on Friday, August 2nd. KeyCorp lowered their target price on McDonald’s from $310.00 to $305.00 and set an “overweight” rating for the company in a report on Tuesday, July 30th. JPMorgan Chase & Co. lifted their price target on McDonald’s from $270.00 to $290.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Finally, Jefferies Financial Group upped their price objective on McDonald’s from $310.00 to $330.00 and gave the stock a “buy” rating in a research note on Monday, September 9th. Eleven equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $307.48.

McDonald’s Price Performance

MCD stock opened at $300.27 on Wednesday. The company has a market capitalization of $215.40 billion, a P/E ratio of 25.49, a price-to-earnings-growth 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 firm’s fifty day simple moving average is $279.11 and its 200-day simple moving average is $270.68.

McDonald’s (NYSE:MCD) last posted 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 business had revenue of $6.49 billion during the quarter, compared to analysts’ expectations of $6.62 billion. McDonald’s had a net margin of 32.25% and a negative return on equity of 178.68%. McDonald’s’s revenue for the quarter was down .1% compared to the same quarter last year. During the same period in the previous year, the company posted $3.17 earnings per share. As a group, sell-side analysts forecast that McDonald’s Co. will post 11.69 earnings per share for the current year.

McDonald’s Dividend Announcement

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

McDonald’s 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.