McDonald’s Corporation $MCD Shares Sold by Oak Thistle LLC

Oak Thistle LLC lessened its stake in shares of McDonald’s Corporation (NYSE:MCD) by 50.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,787 shares of the fast-food giant’s stock after selling 5,979 shares during the quarter. Oak Thistle LLC’s holdings in McDonald’s were worth $1,759,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Decker Retirement Planning Inc. raised its position in McDonald’s by 142.9% during the 2nd quarter. Decker Retirement Planning Inc. now owns 85 shares of the fast-food giant’s stock worth $25,000 after buying an additional 50 shares during the last quarter. Legacy Investment Solutions LLC purchased a new stake in shares of McDonald’s in the second quarter valued at about $25,000. HFM Investment Advisors LLC acquired a new position in shares of McDonald’s during the first quarter worth about $26,000. Nova Wealth Management Inc. purchased a new position in McDonald’s during the first quarter worth about $26,000. Finally, GFG Capital LLC purchased a new position in McDonald’s during the second quarter worth about $29,000. 70.29% of the stock is owned by institutional investors and hedge funds.

McDonald’s Price Performance

Shares of McDonald’s stock opened at $318.68 on Thursday. McDonald’s Corporation has a 1 year low of $276.53 and a 1 year high of $326.32. The company has a market capitalization of $226.95 billion, a P/E ratio of 27.19, a P/E/G ratio of 3.49 and a beta of 0.52. The business has a 50 day moving average price of $306.29 and a 200 day moving average price of $303.80.

McDonald’s (NYSE:MCD) last announced its earnings results on Wednesday, November 5th. The fast-food giant reported $3.22 EPS for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.11). The company had revenue of $7.08 billion for the quarter, compared to analyst estimates of $7.10 billion. McDonald’s had a net margin of 32.04% and a negative return on equity of 280.89%. McDonald’s’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter last year, the company posted $3.23 EPS. As a group, research analysts expect that McDonald’s Corporation will post 12.25 EPS for the current fiscal year.

McDonald’s Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 1st were given a dividend of $1.86 per share. The ex-dividend date was Monday, December 1st. This represents a $7.44 dividend on an annualized basis and a yield of 2.3%. This is a boost from McDonald’s’s previous quarterly dividend of $1.77. McDonald’s’s dividend payout ratio (DPR) is 63.48%.

Analyst Ratings Changes

Several research analysts have issued reports on MCD shares. Weiss Ratings reiterated a “buy (b-)” rating on shares of McDonald’s in a research report on Friday, October 31st. Sanford C. Bernstein reissued a “market perform” rating on shares of McDonald’s in a research note on Wednesday, December 10th. Piper Sandler restated a “neutral” rating and issued a $325.00 price target on shares of McDonald’s in a report on Wednesday, October 22nd. Guggenheim raised their price objective on McDonald’s from $295.00 to $310.00 and gave the company a “neutral” rating in a research note on Wednesday, November 19th. Finally, Royal Bank Of Canada started coverage on McDonald’s in a report on Wednesday, October 8th. They set a “sector perform” rating and a $320.00 price objective for the company. Eleven equities research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $324.57.

Insider Buying and Selling

In other news, EVP Manuel Jm Steijaert sold 6,567 shares of McDonald’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $305.50, for a total transaction of $2,006,218.50. Following the completion of the sale, the executive vice president directly owned 4,606 shares in the company, valued at $1,407,133. The trade was a 58.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Joseph M. Erlinger sold 3,195 shares of the company’s stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $305.82, for a total transaction of $977,094.90. Following the transaction, the insider directly owned 6,088 shares in the company, valued at $1,861,832.16. The trade was a 34.42% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 40,030 shares of company stock worth $12,240,570. 0.25% of the stock is owned by corporate insiders.

McDonald’s Company 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.