McDonald's Corporation $MCD Shares Sold by Curi RMB Capital LLC

Key Points

• Curi RMB Capital LLC reduced its stake in McDonald's Corporation (MCD) by 54.0%, now holding 2,986 shares valued at approximately $933,000.
• McDonald's recently declared a $1.77 quarterly dividend, with an annualized yield of 2.3% and a payout ratio of 60.67%.
• Despite mixed ratings from analysts, the stock has an average price target of $325.35 with a majority of analysts rating it as a Hold or Buy.

Curi RMB Capital LLC trimmed its holdings in McDonald's Corporation (NYSE:MCD - Free Report) by 54.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,986 shares of the fast-food giant's stock after selling 3,500 shares during the period. Curi RMB Capital LLC's holdings in McDonald's were worth $933,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in MCD. Mascagni Wealth Management Inc. bought a new position in McDonald's during the 4th quarter valued at $25,000. Pinney & Scofield Inc. bought a new position in McDonald's during the 4th quarter worth approximately $29,000. Abound Financial LLC acquired a new position in shares of McDonald's in the 1st quarter worth approximately $30,000. Copia Wealth Management acquired a new position in shares of McDonald's in the 4th quarter worth approximately $31,000. Finally, Redmont Wealth Advisors LLC bought a new stake in shares of McDonald's in the 1st quarter valued at approximately $31,000. Institutional investors and hedge funds own 70.29% of the company's stock.

McDonald's Price Performance

Shares of NYSE MCD traded up $2.38 during midday trading on Thursday, reaching $308.32. 2,760,350 shares of the company traded hands, compared to its average volume of 2,936,050. The company has a market cap of $220.02 billion, a price-to-earnings ratio of 26.42, a PEG ratio of 3.12 and a beta of 0.50. The stock has a 50-day moving average price of $305.09 and a 200 day moving average price of $306.61. McDonald's Corporation has a 52 week low of $276.53 and a 52 week 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. McDonald's had a net margin of 32.21% and a negative return on equity of 225.52%. The firm had revenue of $6.84 billion during the quarter, compared to analyst estimates of $6.68 billion. During the same quarter in the prior year, the firm posted $2.97 EPS. McDonald's's revenue was up 5.4% compared to the same quarter last year. As a group, analysts expect that McDonald's Corporation will post 12.25 EPS for the current year.

McDonald's Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd will be issued a dividend of $1.77 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $7.08 annualized dividend and a yield of 2.3%. McDonald's's payout ratio is presently 60.67%.

Insider Transactions at McDonald's

In other McDonald's news, CMO Edith Morgan Flatley sold 1,000 shares of the company'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 value of $315,000.00. Following the completion of the sale, the chief marketing officer directly owned 6,858 shares in the company, valued at $2,160,270. This represents a 12.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Joseph M. Erlinger sold 939 shares of McDonald's stock in a transaction 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 transaction, 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 sold 8,341 shares of company stock worth $2,544,327 in the last three months. 0.25% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. KeyCorp restated an "overweight" rating and set a $335.00 price objective (up from $325.00) on shares of McDonald's in a research note on Thursday, August 7th. BMO Capital Markets raised their price target on shares of McDonald's from $350.00 to $360.00 and gave the stock an "outperform" rating in a research report on Thursday, September 4th. Melius assumed coverage on shares of McDonald's in a report on Monday, July 14th. They issued a "sell" rating and a $250.00 price target for the company. Stifel Nicolaus increased their price objective on shares of McDonald's from $300.00 to $315.00 and gave the stock a "hold" rating in a research note on Friday, August 22nd. Finally, Bank of America cut their target price on shares of McDonald's from $327.00 to $322.00 and set a "neutral" rating on the stock in a report on Friday, July 18th. Eleven research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $325.14.

McDonald's Company 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.