McDonald's Corporation $MCD Shares Sold by Bridgeway Capital Management LLC

Key Points

• Bridgeway Capital Management LLC has sold 2,240 shares of McDonald's Corporation, reducing its holdings by 3.5% to a total of 61,220 shares valued at approximately $19.1 million.
• McDonald's reported earnings of $3.19 per share for the most recent quarter, which exceeded analysts' expectations, along with a revenue of $6.84 billion.
• The company recently announced a quarterly dividend of $1.77 per share, reflecting an annualized dividend yield of 2.2%.

Bridgeway Capital Management LLC cut its holdings in shares of McDonald's Corporation (NYSE:MCD - Free Report) by 3.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 61,220 shares of the fast-food giant's stock after selling 2,240 shares during the period. Bridgeway Capital Management LLC's holdings in McDonald's were worth $19,123,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in McDonald's by 0.3% during the first quarter. Vanguard Group Inc. now owns 70,409,095 shares of the fast-food giant's stock worth $21,993,689,000 after purchasing an additional 239,753 shares during the period. Price T Rowe Associates Inc. MD increased its stake in McDonald's by 16.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 9,341,460 shares of the fast-food giant's stock worth $2,917,993,000 after purchasing an additional 1,344,954 shares during the period. Northern Trust Corp increased its stake in McDonald's by 1.1% during the first quarter. Northern Trust Corp now owns 8,965,159 shares of the fast-food giant's stock worth $2,800,447,000 after purchasing an additional 97,966 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in McDonald's by 11.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,019,019 shares of the fast-food giant's stock worth $1,454,963,000 after purchasing an additional 504,085 shares during the period. Finally, Goldman Sachs Group Inc. grew its position in shares of McDonald's by 19.6% during the first quarter. Goldman Sachs Group Inc. now owns 4,982,825 shares of the fast-food giant's stock worth $1,556,485,000 after buying an additional 815,768 shares in the last quarter. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on MCD shares. KeyCorp reissued an "overweight" rating and set a $335.00 price objective (up from $325.00) on shares of McDonald's in a research report on Thursday, August 7th. Stifel Nicolaus boosted their price objective on McDonald's from $300.00 to $315.00 and gave the stock a "hold" rating in a research report on Friday, August 22nd. TD Securities reissued a "hold" rating and set a $305.00 price objective on shares of McDonald's in a research report on Thursday, June 5th. Citigroup boosted their price objective on McDonald's from $364.00 to $365.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. Finally, JPMorgan Chase & Co. boosted their price objective on McDonald's from $305.00 to $310.00 and gave the stock an "overweight" rating in a research report on Thursday, August 7th. Twelve investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $325.35.

Insider Transactions at McDonald's

In other news, insider Joseph M. Erlinger sold 939 shares of the stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $299.49, for a total value of $281,221.11. Following the completion of the sale, the insider directly owned 9,283 shares of the company's stock, valued at approximately $2,780,165.67. This represents a 9.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CMO Edith Morgan Flatley sold 1,000 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $315.00, for a total value of $315,000.00. Following the completion of the sale, the chief marketing officer directly owned 6,858 shares of the company's stock, valued at $2,160,270. The trade was a 12.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 8,341 shares of company stock valued at $2,544,327 over the last ninety days. 0.25% of the stock is owned by insiders.

McDonald's Stock Down 0.8%

MCD traded down $2.69 on Friday, reaching $314.30. The company's stock had a trading volume of 2,533,016 shares, compared to its average volume of 2,961,695. The stock has a 50 day moving average of $303.87 and a two-hundred day moving average of $306.48. The company has a market capitalization of $224.28 billion, a price-to-earnings ratio of 26.93, a P/E/G ratio of 3.20 and a beta of 0.50. McDonald's Corporation has a fifty-two week low of $276.53 and a fifty-two week high of $326.32.

McDonald's (NYSE:MCD - Get Free Report) last announced its quarterly 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 the consensus estimate of $6.68 billion. McDonald's had a negative return on equity of 225.52% and a net margin of 32.21%.The firm's quarterly revenue was up 5.4% compared to the same quarter last year. During the same period in the prior year, the company posted $2.97 earnings per share. As a group, analysts anticipate that McDonald's Corporation will post 12.25 earnings per share for the current fiscal year.

McDonald's Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd will be issued a $1.77 dividend. This represents a $7.08 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Tuesday, September 2nd. McDonald's's dividend 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.