Gateway Investment Advisers LLC Sells 28,381 Shares of McDonald's Corporation $MCD

Key Points

• Gateway Investment Advisers LLC reduced its stake in McDonald's Corporation by 16.3% during Q2, selling 28,381 shares and bringing its total holdings to 145,222 shares worth $42.43 million.
• McDonald's reported $3.19 EPS for the last quarter, exceeding estimates, and noted a revenue of $6.84 billion, which was also above expectations.
• The company announced a quarterly dividend of $1.77 per share, reflecting a 2.3% yield and a payout ratio of 60.67%.

Gateway Investment Advisers LLC reduced its position in shares of McDonald's Corporation (NYSE:MCD - Free Report) by 16.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 145,222 shares of the fast-food giant's stock after selling 28,381 shares during the quarter. Gateway Investment Advisers LLC's holdings in McDonald's were worth $42,430,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Brighton Jones LLC grew its stake in shares of McDonald's by 21.6% in the fourth quarter. Brighton Jones LLC now owns 9,286 shares of the fast-food giant's stock valued at $2,692,000 after acquiring an additional 1,649 shares in the last quarter. Revolve Wealth Partners LLC grew its stake in shares of 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 acquiring an additional 52 shares in the last quarter. Bank Pictet & Cie Europe AG grew its stake in shares of McDonald's by 15.3% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 209,464 shares of the fast-food giant's stock valued at $60,722,000 after acquiring an additional 27,774 shares in the last quarter. GHE LLC grew its stake in shares of McDonald's by 0.9% in the fourth quarter. GHE LLC now owns 14,677 shares of the fast-food giant's stock valued at $4,255,000 after acquiring an additional 136 shares in the last quarter. Finally, Visionary Wealth Advisors grew its stake in McDonald's by 4.9% during the fourth quarter. Visionary Wealth Advisors now owns 5,193 shares of the fast-food giant's stock worth $1,505,000 after buying an additional 244 shares in the last quarter. 70.29% of the stock is owned by institutional investors.

McDonald's Stock Performance

Shares of MCD stock traded up $1.16 during trading hours on Friday, hitting $302.30. 5,689,476 shares of the company were exchanged, compared to its average volume of 2,880,444. The firm has a market cap of $215.72 billion, a P/E ratio of 25.90, a P/E/G ratio of 3.08 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. The company has a 50 day simple moving average of $306.06 and a two-hundred day simple moving average of $306.44.

McDonald's (NYSE:MCD - Get Free Report) last announced its quarterly earnings data 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 net margin of 32.21% and a negative return on equity of 225.52%. The company had revenue of $6.84 billion during the quarter, compared to the consensus estimate of $6.68 billion. During the same quarter last year, the firm posted $2.97 EPS. The company's quarterly revenue was up 5.4% on a year-over-year basis. As a group, sell-side analysts expect that McDonald's Corporation will post 12.25 EPS for the current fiscal year.

McDonald's Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd were given a $1.77 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $7.08 annualized dividend and a yield of 2.3%. McDonald's's dividend payout ratio (DPR) is presently 60.67%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on MCD shares. Morgan Stanley increased their price objective on shares of McDonald's from $324.00 to $326.00 and gave the stock an "equal weight" rating in a research note on Monday, July 14th. TD Securities reiterated a "hold" rating and set a $305.00 price objective on shares of McDonald's in a research note on Thursday, June 5th. Stifel Nicolaus increased their target price on shares of McDonald's from $300.00 to $315.00 and gave the stock a "hold" rating in a report on Friday, August 22nd. Argus cut shares of McDonald's from a "buy" rating to a "hold" rating in a report on Friday, June 13th. Finally, Redburn Atlantic reiterated a "sell" rating and issued a $260.00 price objective (down previously from $319.00) on shares of McDonald's in a report on Tuesday, June 10th. Eleven research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $325.86.

Insider Buying and Selling at McDonald's

In related news, EVP Desiree Ralls-Morrison sold 2,487 shares of McDonald's stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $310.00, for a total value of $770,970.00. Following the completion of the sale, the executive vice president owned 8,754 shares of the company's stock, valued at approximately $2,713,740. This trade represents a 22.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CMO Edith Morgan Flatley sold 1,000 shares of McDonald's stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $315.00, for a total transaction 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 approximately $2,160,270. The trade was a 12.73% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,341 shares of company stock worth $2,544,327. 0.25% of the stock is owned by company insiders.

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.