Mirabaud & Cie SA Sells 7,761 Shares of McDonald's Corporation (NYSE:MCD)

Key Points

• Mirabaud & Cie SA significantly reduced its holdings in McDonald's Corporation by 91.8% during Q1, now owning only 695 shares worth $217,000 after selling 7,761 shares.
• McDonald's reported earnings of $2.67 per share for its last quarter, meeting expectations, but fell short on revenue at $5.96 billion compared to a $6.17 billion forecast.
• The company declared a quarterly dividend of $1.77 per share, with a yield of 2.3%, to be paid on September 16th to investors of record on September 2nd.

Mirabaud & Cie SA lessened its holdings in shares of McDonald's Corporation (NYSE:MCD - Free Report) by 91.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 695 shares of the fast-food giant's stock after selling 7,761 shares during the quarter. Mirabaud & Cie SA's holdings in McDonald's were worth $217,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in MCD. Granite Bay Wealth Management LLC lifted its stake in McDonald's by 3.5% in the 1st quarter. Granite Bay Wealth Management LLC now owns 988 shares of the fast-food giant's stock valued at $309,000 after purchasing an additional 33 shares during the last quarter. CVA Family Office LLC raised its position in shares of McDonald's by 1.9% in the first quarter. CVA Family Office LLC now owns 1,793 shares of the fast-food giant's stock valued at $560,000 after buying an additional 33 shares in the last quarter. Consilium Wealth Advisory LLC raised its position in shares of McDonald's by 2.5% in the first quarter. Consilium Wealth Advisory LLC now owns 1,334 shares of the fast-food giant's stock valued at $417,000 after buying an additional 33 shares in the last quarter. Security Financial Services INC. raised its position in shares of McDonald's by 0.7% in the first quarter. Security Financial Services INC. now owns 5,043 shares of the fast-food giant's stock valued at $1,575,000 after buying an additional 33 shares in the last quarter. Finally, Northeast Financial Consultants Inc raised its position in shares of McDonald's by 0.5% in the fourth quarter. Northeast Financial Consultants Inc now owns 7,486 shares of the fast-food giant's stock valued at $2,170,000 after buying an additional 34 shares in the last quarter. Institutional investors and hedge funds own 70.29% of the company's stock.

Insider Activity

In other news, insider Joseph M. Erlinger sold 939 shares of the company's stock in a transaction that occurred 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 represents a 9.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CMO Edith Morgan Flatley sold 976 shares of the business's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $303.50, for a total transaction of $296,216.00. Following the completion of the transaction, the chief marketing officer owned 7,882 shares of the company's stock, valued at approximately $2,392,187. The trade was a 11.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,793 shares of company stock valued at $1,444,208. Corporate insiders own 0.25% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Robert W. Baird lifted their price objective on shares of McDonald's from $300.00 to $315.00 and gave the company a "neutral" rating in a research note on Friday, May 2nd. Melius began coverage on shares of McDonald's in a research note on Monday, July 14th. They set a "sell" rating and a $250.00 target price on the stock. Northcoast Research cut shares of McDonald's from a "buy" rating to a "neutral" rating in a research note on Tuesday, May 6th. Erste Group Bank cut shares of McDonald's from a "strong-buy" rating to a "hold" rating in a research note on Saturday, May 24th. Finally, BTIG Research reaffirmed a "neutral" rating on shares of McDonald's in a research note on Tuesday, April 22nd. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, McDonald's currently has a consensus rating of "Hold" and a consensus price target of $323.39.

McDonald's Trading Up 0.5%

Shares of NYSE:MCD traded up $1.51 during trading on Monday, reaching $304.40. The company had a trading volume of 4,733,198 shares, compared to its average volume of 3,488,248. The company has a fifty day moving average of $299.44 and a two-hundred day moving average of $303.83. The stock has a market capitalization of $217.66 billion, a P/E ratio of 26.87, a price-to-earnings-growth ratio of 3.17 and a beta of 0.52. McDonald's Corporation has a 12 month low of $265.33 and a 12 month high of $326.32.

McDonald's (NYSE:MCD - Get Free Report) last released its earnings results on Thursday, May 1st. The fast-food giant reported $2.67 EPS for the quarter, meeting the consensus estimate of $2.67. The company had revenue of $5.96 billion for the quarter, compared to analyst estimates of $6.17 billion. McDonald's had a net margin of 31.75% and a negative return on equity of 195.27%. The firm's quarterly revenue was down 3.5% compared to the same quarter last year. During the same quarter last year, the firm earned $2.70 EPS. As a group, equities research analysts predict that McDonald's Corporation will post 12.25 earnings per share for the current year.

McDonald's Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd will be given 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 (DPR) is currently 62.49%.

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.