Benchstone Capital Management LP Raises Holdings in McDonald's Corporation $MCD

Key Points

• Benchstone Capital Management LP increased its McDonald's holdings by 1.2% in Q1, now owning 73,240 shares valued at approximately $22.88 million.
• McDonald's reported quarterly earnings of $3.19 per share, beating estimates and reflecting a 5.4% increase in revenue year-over-year.
• The company declared a $1.77 quarterly dividend, with a yield of 2.3%, set to be paid on September 16th to investors of record on September 2nd.

Benchstone Capital Management LP increased its stake in shares of McDonald's Corporation (NYSE:MCD - Free Report) by 1.2% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 73,240 shares of the fast-food giant's stock after buying an additional 835 shares during the quarter. McDonald's comprises 2.4% of Benchstone Capital Management LP's holdings, making the stock its 22nd largest position. Benchstone Capital Management LP's holdings in McDonald's were worth $22,878,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Mascagni Wealth Management Inc. acquired a new stake in McDonald's during the fourth quarter worth $25,000. Abound Financial LLC acquired a new stake in McDonald's during the first quarter worth $30,000. Pinney & Scofield Inc. acquired a new stake in McDonald's during the fourth quarter worth $29,000. Redmont Wealth Advisors LLC acquired a new stake in McDonald's during the first quarter worth $31,000. Finally, Financial Gravity Asset Management Inc. acquired a new stake in McDonald's during the first quarter worth $31,000. Hedge funds and other institutional investors own 70.29% of the company's stock.

Insiders Place Their Bets

In other McDonald's news, CMO Edith Morgan Flatley sold 1,000 shares of the business's stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $315.00, for a total transaction of $315,000.00. Following the transaction, the chief marketing officer owned 6,858 shares in the company, valued at approximately $2,160,270. The trade was a 12.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Jonathan Banner sold 1,000 shares of the company'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 completion of the sale, the executive vice president owned 99 shares in the company, valued at approximately $30,690. This represents a 90.99% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 8,341 shares of company stock worth $2,544,327. Company insiders own 0.25% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on MCD. KeyCorp reaffirmed an "overweight" rating and issued a $335.00 price objective (up from $325.00) on shares of McDonald's in a research note on Thursday, August 7th. Bank of America dropped their price objective on McDonald's from $327.00 to $322.00 and set a "neutral" rating for the company in a research note on Friday, July 18th. Melius began coverage on McDonald's in a research note on Monday, July 14th. They issued a "sell" rating and a $250.00 price objective for the company. Evercore ISI lifted their price objective on McDonald's from $350.00 to $360.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. Finally, TD Cowen lifted their price objective on McDonald's from $305.00 to $315.00 and gave the company a "hold" rating in a research note on Wednesday, August 6th. Thirteen equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $326.38.

McDonald's Stock Performance

Shares of NYSE:MCD traded up $1.99 on Tuesday, hitting $315.53. 3,226,990 shares of the company's stock were exchanged, compared to its average volume of 3,210,234. The firm's 50-day moving average is $302.18 and its 200 day moving average is $306.26. The company has a market capitalization of $225.16 billion, a PE ratio of 27.04, a P/E/G ratio of 3.19 and a beta of 0.50. McDonald's Corporation has a 1-year low of $276.53 and a 1-year high of $326.32.

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

McDonald's Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd will be given a dividend of $1.77 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $7.08 annualized dividend and a yield of 2.2%. McDonald's's payout ratio is presently 60.67%.

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.