AlTi Global Inc. Lowers Holdings in McDonald’s Co. (NYSE:MCD)

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

A number of other large investors have also recently modified their holdings of MCD. NBW Capital LLC lifted its holdings in McDonald’s by 1.8% during the second quarter. NBW Capital LLC now owns 20,366 shares of the fast-food giant’s stock worth $5,190,000 after buying an additional 353 shares during the period. Fred Alger Management LLC lifted its holdings in McDonald’s by 5.9% during the second quarter. Fred Alger Management LLC now owns 17,555 shares of the fast-food giant’s stock worth $4,474,000 after buying an additional 985 shares during the period. Wescott Financial Advisory Group LLC purchased a new stake in McDonald’s during the second quarter worth $313,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in McDonald’s by 58.9% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 138,102 shares of the fast-food giant’s stock worth $35,194,000 after buying an additional 51,210 shares during the period. Finally, Mill Creek Capital Advisors LLC lifted its holdings in McDonald’s by 53.6% during the second quarter. Mill Creek Capital Advisors LLC now owns 3,865 shares of the fast-food giant’s stock worth $985,000 after buying an additional 1,348 shares during the period. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on MCD shares. Wedbush restated an “outperform” rating and set a $295.00 target price on shares of McDonald’s in a report on Monday, July 29th. Guggenheim upped 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. Bank of America decreased their price objective on McDonald’s from $288.00 to $278.00 and set a “neutral” rating for the company in a report on Tuesday, July 30th. BMO Capital Markets decreased their price objective on McDonald’s from $330.00 to $315.00 and set an “outperform” rating for the company in a report on Tuesday, July 30th. Finally, Loop Capital reiterated a “buy” rating and set a $342.00 price objective on shares of McDonald’s in a report on Tuesday, September 10th. Eleven equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat, McDonald’s presently has an average rating of “Moderate Buy” and a consensus target price of $307.48.

Insider Transactions at McDonald’s

In other news, insider Joseph M. Erlinger sold 1,099 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $298.57, for a total transaction of $328,128.43. Following the sale, the insider now directly owns 11,484 shares of the company’s stock, valued at approximately $3,428,777.88. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, insider Joseph M. Erlinger sold 1,099 shares of the firm’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $298.57, for a total value of $328,128.43. Following the transaction, the insider now directly owns 11,484 shares of the company’s stock, valued at approximately $3,428,777.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Ian Frederick Borden sold 5,939 shares of the firm’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $300.04, for a total transaction 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 $6,121,716.12. The disclosure for this sale can be found here. Insiders have sold a total of 12,231 shares of company stock valued at $3,513,659 in the last ninety days. 0.23% of the stock is currently owned by corporate insiders.

McDonald’s Stock Performance

Shares of MCD opened at $300.27 on Wednesday. The business’s 50-day moving average is $279.11 and its two-hundred day moving average is $270.68. The company has a market capitalization 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 fifty-two week low of $243.53 and a fifty-two week high of $302.39.

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

McDonald’s Announces Dividend

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

About McDonald’s

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.