Bartlett & CO. Wealth Management LLC Lowers Stake in McDonald's Corporation $MCD

Key Points

• Bartlett & CO. Wealth Management LLC reduced its stake in McDonald's Corporation by 11.4%, holding 80,807 shares valued at $23.61 million after selling 10,445 shares.
• McDonald's reported a quarterly earnings per share (EPS) of $3.19, exceeding analyst expectations of $3.15, with revenue of $6.84 billion, up 5.4% from the previous year.
• The company declared a quarterly dividend of $1.77 per share, resulting in an annualized dividend yield of 2.3% for investors.

Bartlett & CO. Wealth Management LLC lowered its stake in shares of McDonald's Corporation (NYSE:MCD - Free Report) by 11.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 80,807 shares of the fast-food giant's stock after selling 10,445 shares during the period. Bartlett & CO. Wealth Management LLC's holdings in McDonald's were worth $23,610,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Brighton Jones LLC grew its holdings in McDonald's by 21.6% in the fourth quarter. Brighton Jones LLC now owns 9,286 shares of the fast-food giant's stock worth $2,692,000 after purchasing an additional 1,649 shares during the last quarter. Revolve Wealth Partners LLC raised its stake in McDonald's by 2.8% in the fourth quarter. Revolve Wealth Partners LLC now owns 1,942 shares of the fast-food giant's stock valued at $563,000 after buying an additional 52 shares during the last quarter. Quotient Wealth Partners LLC raised its stake in McDonald's by 10.9% in the first quarter. Quotient Wealth Partners LLC now owns 2,616 shares of the fast-food giant's stock valued at $817,000 after buying an additional 258 shares during the last quarter. Baker Tilly Wealth Management LLC raised its holdings in shares of McDonald's by 24.0% in the first quarter. Baker Tilly Wealth Management LLC now owns 1,329 shares of the fast-food giant's stock worth $415,000 after buying an additional 257 shares during the last quarter. Finally, Merit Financial Group LLC raised its holdings in shares of McDonald's by 15.6% in the first quarter. Merit Financial Group LLC now owns 29,982 shares of the fast-food giant's stock worth $9,366,000 after buying an additional 4,056 shares during the last quarter. Hedge funds and other institutional investors own 70.29% of the company's stock.

McDonald's Price Performance

McDonald's stock opened at $303.99 on Wednesday. McDonald's Corporation has a 12 month low of $276.53 and a 12 month high of $326.32. The business has a 50 day simple moving average of $306.72 and a 200-day simple moving average of $306.25. The stock has a market capitalization of $216.93 billion, a PE ratio of 26.05, a price-to-earnings-growth ratio of 3.09 and a beta of 0.50.

McDonald's (NYSE:MCD - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The fast-food giant reported $3.19 EPS for the quarter, topping the consensus estimate of $3.15 by $0.04. McDonald's had a negative return on equity of 225.52% and a net margin of 32.21%.The business had revenue of $6.84 billion during the quarter, compared to analysts' expectations of $6.68 billion. During the same quarter in the prior year, the business earned $2.97 earnings per share. The company's quarterly revenue was up 5.4% compared to the same quarter last year. As a group, equities research analysts anticipate that McDonald's Corporation will post 12.25 EPS for the current year.

McDonald's Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd were paid a dividend of $1.77 per share. This represents a $7.08 annualized dividend and a dividend yield of 2.3%. The ex-dividend date was Tuesday, September 2nd. McDonald's's dividend payout ratio is 60.67%.

Insiders Place Their Bets

In related news, EVP Jonathan Banner sold 1,000 shares of McDonald's stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $310.00, for a total value of $310,000.00. Following the sale, the executive vice president directly owned 99 shares in the company, valued at $30,690. The trade was a 90.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Joseph M. Erlinger sold 939 shares of McDonald's stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $299.49, for a total value of $281,221.11. Following the completion of the sale, the insider owned 9,283 shares in the company, valued at approximately $2,780,165.67. This trade represents a 9.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,402 shares of company stock valued at $2,273,407 in the last three months. 0.25% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on MCD. Citigroup raised their target price on McDonald's from $373.00 to $381.00 and gave the stock a "buy" rating in a report on Wednesday, September 17th. Melius began coverage on McDonald's in a research report on Monday, July 14th. They set a "sell" rating and a $250.00 target price on the stock. Evercore ISI increased their target price on McDonald's from $350.00 to $360.00 and gave the company an "outperform" rating in a research report on Friday, August 8th. Barclays lifted their price objective on McDonald's from $355.00 to $360.00 and gave the stock an "overweight" rating in a research report on Thursday, August 7th. Finally, Argus lowered McDonald's from a "buy" rating to a "hold" rating in a research report on Friday, June 13th. Eleven research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, McDonald's currently has an average rating of "Hold" and an average target price of $325.86.

About McDonald's

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.

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