Jones Financial Companies Lllp Has $6.88 Million Stock Holdings in McDonald's Corporation $MCD

Key Points

• Jones Financial Companies Lllp has significantly reduced its stake in McDonald's Corporation, cutting its holdings by 84% during the first quarter, leaving it with 22,274 shares valued at approximately $6.88 million.
• Several institutional investors have increased their stakes in McDonald's, including Nuveen LLC, which added $1.32 billion, and GAMMA Investing LLC, raising its stake by an astonishing 39,039.7%.
• McDonald's also announced a quarterly dividend of $1.77 per share, reflecting a projected annualized dividend of $7.08 and a yield of 2.3%, with a payout ratio of 60.67%.

Jones Financial Companies Lllp reduced its stake in McDonald's Corporation (NYSE:MCD - Free Report) by 84.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 22,274 shares of the fast-food giant's stock after selling 117,189 shares during the quarter. Jones Financial Companies Lllp's holdings in McDonald's were worth $6,883,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Mascagni Wealth Management Inc. purchased a new position in McDonald's during the 4th quarter valued at about $25,000. Pinney & Scofield Inc. purchased a new stake in McDonald's during the fourth quarter worth approximately $29,000. Abound Financial LLC purchased a new stake in McDonald's during the first quarter worth approximately $30,000. Copia Wealth Management acquired a new position in McDonald's during the fourth quarter worth approximately $31,000. Finally, Redmont Wealth Advisors LLC acquired a new position in McDonald's during the first quarter worth approximately $31,000. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on MCD shares. BMO Capital Markets boosted their target price on McDonald's from $350.00 to $360.00 and gave the company an "outperform" rating in a report on Thursday, September 4th. Erste Group Bank downgraded McDonald's from a "strong-buy" rating to a "hold" rating in a research report on Saturday, May 24th. Bank of America decreased their target price on McDonald's from $327.00 to $322.00 and set a "neutral" rating on the stock in a research report on Friday, July 18th. Guggenheim reaffirmed a "neutral" rating on shares of McDonald's in a research note on Friday, August 8th. Finally, TD Securities reissued a "hold" rating and issued a $305.00 price target on shares of McDonald's in a research note on Thursday, June 5th. Eleven investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $325.14.

Insiders Place Their Bets

In other news, EVP Desiree Ralls-Morrison sold 2,487 shares of McDonald's stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $310.00, for a total transaction of $770,970.00. Following the transaction, the executive vice president owned 8,754 shares in the company, valued at approximately $2,713,740. The trade was a 22.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CMO Edith Morgan Flatley sold 1,000 shares of the business's stock in a transaction dated 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 transaction, the chief marketing officer owned 6,858 shares in the company, valued at $2,160,270. This trade represents a 12.73% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 8,341 shares of company stock worth $2,544,327. 0.25% of the stock is owned by corporate insiders.

McDonald's Stock Down 1.0%

McDonald's stock traded down $2.94 during mid-day trading on Friday, hitting $305.49. 2,072,499 shares of the company's stock traded hands, compared to its average volume of 2,839,153. The firm has a 50 day moving average price of $305.33 and a 200 day moving average price of $306.57. The company has a market cap of $218.00 billion, a PE ratio of 26.18, a price-to-earnings-growth ratio of 3.14 and a beta of 0.50. McDonald's Corporation has a one year low of $276.53 and a one year high of $326.32.

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

McDonald's Announces Dividend

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

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.