Boothbay Fund Management LLC Has $12.58 Million Stock Position in McDonald's Corporation $MCD

Key Points

• Boothbay Fund Management cut its McDonald’s stake by 34.9% in the fourth quarter, leaving it with 41,160 shares valued at about $12.58 million.
• Institutional ownership remains strong, with hedge funds and other investors holding 70.29% of McDonald’s stock, and several firms recently increasing their positions.
• McDonald’s latest quarter beat expectations on earnings and revenue, while analysts still see a Moderate Buy consensus despite some target price cuts and concerns about softer restaurant spending.

Boothbay Fund Management LLC lowered its holdings in shares of McDonald's Corporation (NYSE:MCD - Free Report) by 34.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 41,160 shares of the fast-food giant's stock after selling 22,032 shares during the period. Boothbay Fund Management LLC's holdings in McDonald's were worth $12,580,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Peterson Wealth Services increased its holdings in McDonald's by 3,294.5% in the 4th quarter. Peterson Wealth Services now owns 11,779 shares of the fast-food giant's stock worth $3,600,000 after purchasing an additional 11,432 shares in the last quarter. Harbour Investments Inc. increased 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 worth $10,853,000 after purchasing an additional 16,252 shares in the last quarter. Capital International Sarl increased its holdings in McDonald's by 10.4% in the 4th quarter. Capital International Sarl now owns 64,256 shares of the fast-food giant's stock worth $19,639,000 after purchasing an additional 6,079 shares in the last quarter. North Dakota State Investment Board acquired a new position in McDonald's in the 4th quarter worth about $7,493,000. Finally, Pittenger & Anderson Inc. increased its holdings in McDonald's by 21.9% in the 4th quarter. Pittenger & Anderson Inc. now owns 21,487 shares of the fast-food giant's stock worth $6,567,000 after purchasing an additional 3,866 shares in the last quarter. Institutional investors and hedge funds own 70.29% of the company's stock.

Key Headlines Impacting McDonald's

Here are the key news stories impacting McDonald's this week:

• Positive Sentiment: McDonald’s is bringing back its fried apple pie after more than 30 years, a nostalgic, limited-time menu move that could support traffic and generate buzz with customers. AP News article
• Positive Sentiment: Other reports also note McDonald’s has been winning with value-oriented diners, which may help it hold up better than midtier restaurant chains as consumers trade down or seek familiar brands. Yahoo Finance article
• Neutral Sentiment: Coverage of McDonald’s reviving classic menu items, updating drive-thrus, and rebuilding older locations is mostly brand/operations news, with limited immediate impact on the stock. TheStreet article
• Neutral Sentiment: A Zacks note pointed out that MCD recently fell more than the broader market, but it did not identify a major new catalyst beyond the stock’s recent weakness. Zacks article
• Negative Sentiment: The biggest headwind is the market’s concern that restaurant spending is fragmenting, which could pressure midtier operators and keep sentiment cautious around consumer discretionary names like McDonald’s. Yahoo Finance article

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on MCD shares. KeyCorp lowered their target price on McDonald's from $345.00 to $330.00 and set an "overweight" rating for the company in a report on Friday, May 8th. Royal Bank Of Canada lowered their target price on McDonald's from $330.00 to $305.00 and set a "sector perform" rating for the company in a report on Friday, May 8th. Tigress Financial increased their price target on McDonald's from $360.00 to $385.00 and gave the company a "buy" rating in a research note on Friday, March 6th. Robert W. Baird set a $305.00 price target on McDonald's in a research note on Thursday, May 7th. Finally, BTIG Research reissued a "buy" rating and issued a $370.00 price target on shares of McDonald's in a research note on Thursday, May 7th. Sixteen equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, McDonald's presently has a consensus rating of "Moderate Buy" and a consensus target price of $336.26.

McDonald's Price Performance

NYSE MCD opened at $284.16 on Thursday. The business has a 50 day simple moving average of $288.07 and a 200 day simple moving average of $306.22. McDonald's Corporation has a one year low of $271.85 and a one year high of $341.75. The stock has a market capitalization of $201.90 billion, a P/E ratio of 23.43, a P/E/G ratio of 2.87 and a beta of 0.41.

McDonald's (NYSE:MCD - Get Free Report) last released its earnings results on Thursday, May 7th. The fast-food giant reported $2.83 EPS for the quarter, topping the consensus estimate 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 business had revenue of $6.52 billion during the quarter, compared to analysts' expectations of $6.47 billion. During the same quarter last year, the firm posted $2.67 earnings per share. The firm's revenue was up 9.4% on a year-over-year basis. Equities analysts expect that McDonald's Corporation will post 12.93 earnings per share for the current year.

McDonald's Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 16th. Investors of record on Tuesday, June 2nd were paid a dividend of $1.86 per share. The ex-dividend date of this dividend was Tuesday, June 2nd. This represents a $7.44 annualized dividend and a yield of 2.6%. McDonald's's dividend payout ratio (DPR) is currently 61.34%.

Insider Activity at McDonald's

In related news, EVP Desiree Ralls-Morrison sold 2,763 shares of the firm'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 transaction 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 $1,744,760.48. This trade represents a 30.59% 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, 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 value of $1,493,248.64. Following the sale, the insider directly owned 7,734 shares of the company's stock, valued at $2,198,930.88. This represents a 40.44% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 11,307 shares of company stock valued at $3,262,622 in the last ninety days. 0.26% of the stock is currently owned by insiders.

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.

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