Forum Financial Management LP Sells 2,785 Shares of McDonald’s Corporation $MCD

Forum Financial Management LP reduced its stake in McDonald’s Corporation (NYSE:MCD) by 23.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,339 shares of the fast-food giant’s stock after selling 2,785 shares during the period. Forum Financial Management LP’s holdings in McDonald’s were worth $2,902,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Peterson Wealth Services increased its stake in shares of McDonald’s by 3,294.5% in the fourth quarter. Peterson Wealth Services now owns 11,779 shares of the fast-food giant’s stock valued at $3,600,000 after buying an additional 11,432 shares during the period. Harbour Investments Inc. raised its holdings in McDonald’s by 84.4% in the 4th quarter. Harbour Investments Inc. now owns 35,510 shares of the fast-food giant’s stock valued at $10,853,000 after buying an additional 16,252 shares during the last quarter. Capital International Sarl boosted its position in McDonald’s by 10.4% during the 4th quarter. Capital International Sarl now owns 64,256 shares of the fast-food giant’s stock worth $19,639,000 after buying an additional 6,079 shares during the period. North Dakota State Investment Board acquired a new stake in McDonald’s during the 4th quarter worth approximately $7,493,000. Finally, Pittenger & Anderson Inc. grew its holdings in McDonald’s by 21.9% during the 4th quarter. Pittenger & Anderson Inc. now owns 21,487 shares of the fast-food giant’s stock worth $6,567,000 after acquiring an additional 3,866 shares during the last quarter. 70.29% of the stock is owned by institutional investors.

McDonald’s Stock Down 0.8%

MCD stock opened at $267.60 on Tuesday. The firm has a market cap of $190.13 billion, a price-to-earnings ratio of 22.06, a PEG ratio of 2.69 and a beta of 0.41. The company’s fifty day simple moving average is $282.64 and its 200 day simple moving average is $304.21. McDonald’s Corporation has a 12-month low of $264.53 and a 12-month high of $341.75.

McDonald’s (NYSE:MCD) last issued its quarterly earnings results on Thursday, May 7th. The fast-food giant reported $2.83 earnings per share for the quarter, topping analysts’ consensus estimates of $2.74 by $0.09. McDonald’s had a negative return on equity of 442.10% and a net margin of 31.62%.The firm had revenue of $6.52 billion during the quarter, compared to the consensus estimate of $6.47 billion. During the same period last year, the business posted $2.67 EPS. The business’s revenue was up 9.4% compared to the same quarter last year. Research analysts expect that McDonald’s Corporation will post 12.93 earnings per share for the current year.

McDonald’s Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 16th. Investors of record on Tuesday, June 2nd were given a dividend of $1.86 per share. The ex-dividend date was Tuesday, June 2nd. This represents a $7.44 annualized dividend and a dividend yield of 2.8%. McDonald’s’s dividend payout ratio is presently 61.34%.

Insider Activity

In related news, insider Joseph M. Erlinger sold 5,252 shares of the firm’s stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $284.32, for a total transaction of $1,493,248.64. Following the completion of the sale, the insider owned 7,734 shares of the company’s stock, valued at $2,198,930.88. This trade represents a 40.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Desiree Ralls-Morrison sold 2,763 shares of McDonald’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $278.36, for a total value of $769,108.68. Following the completion of the sale, the executive vice president owned 6,268 shares of the company’s stock, valued at approximately $1,744,760.48. The trade was a 30.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 11,307 shares of company stock worth $3,262,622. 0.26% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have issued reports on MCD shares. Barclays decreased their price target on shares of McDonald’s from $380.00 to $350.00 and set an “overweight” rating for the company in a research report on Friday, May 8th. Morgan Stanley set a $331.00 price target on shares of McDonald’s in a report on Friday, May 8th. TD Cowen reissued a “hold” rating on shares of McDonald’s in a research note on Friday, June 12th. KeyCorp lowered their target price on McDonald’s from $330.00 to $315.00 and set an “overweight” rating for the company in a research report on Monday. Finally, Rothschild & Co Redburn upgraded McDonald’s from a “sell” rating to a “neutral” rating and upped their price target for the company from $260.00 to $306.00 in a research report on Thursday, April 23rd. Sixteen analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, McDonald’s has an average rating of “Moderate Buy” and a consensus price target of $335.70.

McDonald’s Profile

McDonald’s Corporation (NYSE: MCD) is a global quick-service restaurant company best known for its hamburgers, French fries and breakfast offerings. The company develops, operates and franchises a system of restaurants that sell a range of food and beverage items, including signature products such as the Big Mac, Quarter Pounder, Chicken McNuggets, McCafé coffee beverages and a variety of salads, desserts and seasonal menu items. McDonald’s serves customers through company-operated restaurants and franchised locations, and it supports sales via dine-in, drive-thru, digital ordering platforms and third-party delivery partnerships.

Founded in 1940 by brothers Richard and Maurice McDonald as a single San Bernardino, California restaurant, the business was transformed into a franchising model after Ray Kroc joined in the mid-1950s and led the brand’s national and international expansion.