Boothbay Fund Management LLC Sells 12,827 Shares of McDonald's Co. (NYSE:MCD)

Boothbay Fund Management LLC cut its holdings in McDonald's Co. (NYSE:MCD - Free Report) by 87.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,768 shares of the fast-food giant's stock after selling 12,827 shares during the quarter. Boothbay Fund Management LLC's holdings in McDonald's were worth $513,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Norges Bank bought a new stake in shares of McDonald's during the fourth quarter worth $2,725,190,000. Raymond James Financial Inc. acquired a new stake in McDonald's in the fourth quarter valued at approximately $703,074,000. Franklin Resources Inc. raised its stake in McDonald's by 24.4% in the fourth quarter. Franklin Resources Inc. now owns 4,054,387 shares of the fast-food giant's stock valued at $1,175,326,000 after buying an additional 794,536 shares during the last quarter. APG Asset Management N.V. increased its holdings in shares of McDonald's by 1,547.1% during the fourth quarter. APG Asset Management N.V. now owns 641,950 shares of the fast-food giant's stock valued at $179,715,000 after acquiring an additional 602,976 shares in the last quarter. Finally, Proficio Capital Partners LLC increased its stake in McDonald's by 43,591.6% during the 4th quarter. Proficio Capital Partners LLC now owns 590,711 shares of the fast-food giant's stock valued at $171,241,000 after purchasing an additional 589,359 shares in the last quarter. 70.29% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on MCD shares. Barclays boosted their price objective on McDonald's from $347.00 to $355.00 and gave the company an "overweight" rating in a report on Friday. TD Securities restated a "hold" rating and issued a $300.00 price target on shares of McDonald's in a research note on Monday, February 10th. BTIG Research reiterated a "neutral" rating on shares of McDonald's in a research report on Tuesday, April 22nd. BMO Capital Markets boosted their price objective on McDonald's from $335.00 to $340.00 and gave the company an "outperform" rating in a research report on Tuesday, February 11th. Finally, Erste Group Bank raised shares of McDonald's from a "hold" rating to a "strong-buy" rating in a report on Monday, March 17th. Ten analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $325.26.

McDonald's Price Performance

NYSE:MCD traded down $1.86 during mid-day trading on Friday, reaching $311.78. The stock had a trading volume of 3,993,672 shares, compared to its average volume of 3,568,955. The stock has a market cap of $222.95 billion, a P/E ratio of 27.37, a PEG ratio of 3.10 and a beta of 0.62. The business's 50 day moving average is $309.16 and its 200 day moving average is $300.08. McDonald's Co. has a fifty-two week low of $243.53 and a fifty-two week high of $326.32.

McDonald's (NYSE:MCD - Get Free Report) last issued its earnings results on Thursday, May 1st. The fast-food giant reported $2.67 EPS for the quarter, meeting the consensus estimate of $2.67. McDonald's had a net margin of 31.73% and a negative return on equity of 181.63%. The company had revenue of $5.96 billion for the quarter, compared to the consensus estimate of $6.17 billion. During the same quarter in the previous year, the company earned $2.70 EPS. The firm's revenue for the quarter was down 3.5% compared to the same quarter last year. Equities analysts expect that McDonald's Co. will post 12.25 EPS for the current year.

McDonald's Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were issued a $1.77 dividend. This represents a $7.08 annualized dividend and a yield of 2.27%. The ex-dividend date was Monday, March 3rd. McDonald's's dividend payout ratio is 62.16%.

Insider Activity at McDonald's

In other McDonald's news, CEO Christopher J. Kempczinski sold 10,500 shares of the business's stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $310.05, for a total transaction of $3,255,525.00. Following the transaction, the chief executive officer now owns 32,756 shares of the company's stock, valued at $10,155,997.80. The trade was a 24.27 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Joseph M. Erlinger sold 939 shares of the firm's stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $318.50, for a total value of $299,071.50. Following the sale, the insider now directly owns 12,100 shares of the company's stock, valued at $3,853,850. This represents a 7.20 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 28,136 shares of company stock worth $8,676,247. 0.25% of the stock is owned by insiders.

McDonald's 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.