Sunbeam Capital Management LLC Boosts Stake in McDonald’s Corporation $MCD

Sunbeam Capital Management LLC boosted its stake in McDonald’s Corporation (NYSE:MCD) by 3.2% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,112 shares of the fast-food giant’s stock after buying an additional 35 shares during the quarter. Sunbeam Capital Management LLC’s holdings in McDonald’s were worth $325,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. First American Trust FSB lifted its stake in McDonald’s by 55.9% in the 1st quarter. First American Trust FSB now owns 36,917 shares of the fast-food giant’s stock valued at $11,532,000 after buying an additional 13,234 shares in the last quarter. Banque Transatlantique SA raised its position in shares of McDonald’s by 58.0% in the 1st quarter. Banque Transatlantique SA now owns 248,826 shares of the fast-food giant’s stock worth $71,829,000 after buying an additional 91,313 shares during the period. Hamilton Capital LLC raised its position in shares of McDonald’s by 35.2% in the 1st quarter. Hamilton Capital LLC now owns 3,145 shares of the fast-food giant’s stock worth $982,000 after buying an additional 819 shares during the period. Red Door Wealth Management LLC raised its position in shares of McDonald’s by 1.9% in the 1st quarter. Red Door Wealth Management LLC now owns 5,724 shares of the fast-food giant’s stock worth $1,788,000 after buying an additional 109 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of McDonald’s by 5.6% in the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 345,319 shares of the fast-food giant’s stock worth $107,867,000 after buying an additional 18,393 shares during the period. Hedge funds and other institutional investors own 70.29% of the company’s stock.

McDonald’s Price Performance

NYSE:MCD opened at $296.09 on Tuesday. The business’s 50-day moving average is $306.87 and its two-hundred day moving average is $306.09. McDonald’s Corporation has a 12 month low of $276.53 and a 12 month high of $326.32. The firm has a market capitalization of $211.29 billion, a PE ratio of 25.37, a price-to-earnings-growth ratio of 3.07 and a beta of 0.50.

McDonald’s (NYSE:MCD) last announced its earnings results on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share for the quarter, beating the consensus estimate of $3.15 by $0.04. The company 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 company’s revenue was up 5.4% on a year-over-year basis. During the same period last year, the firm earned $2.97 earnings per share. Equities analysts anticipate that McDonald’s Corporation will post 12.25 EPS for the current year.

McDonald’s Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd were paid a dividend of $1.77 per share. The ex-dividend date was Tuesday, September 2nd. This represents a $7.08 annualized dividend and a dividend yield of 2.4%. McDonald’s’s dividend payout ratio (DPR) is currently 60.67%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on MCD shares. JPMorgan Chase & Co. increased their target price on McDonald’s from $305.00 to $310.00 and gave the stock an “overweight” rating in a research report on Thursday, August 7th. TD Cowen increased their target price on McDonald’s from $305.00 to $315.00 and gave the stock a “hold” rating in a research report on Wednesday, August 6th. Citigroup raised their price objective on McDonald’s from $373.00 to $381.00 and gave the company a “buy” rating in a research report on Wednesday, September 17th. KeyCorp reissued an “overweight” rating and issued a $335.00 price objective (up from $325.00) on shares of McDonald’s in a research report on Thursday, August 7th. Finally, Bank of America cut their price objective 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. Twelve equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $325.86.

Insiders Place Their Bets

In other news, insider Joseph M. Erlinger sold 939 shares of the firm’s stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $299.49, for a total transaction of $281,221.11. Following the completion of the sale, the insider directly owned 9,283 shares in the company, valued at $2,780,165.67. This trade represents a 9.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Desiree Ralls-Morrison sold 2,487 shares of the firm’s stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $310.00, for a total value of $770,970.00. Following the sale, the executive vice president owned 8,754 shares of the company’s stock, valued at $2,713,740. This represents a 22.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,402 shares of company stock valued at $2,273,407 over the last ninety days. Insiders own 0.25% of the company’s stock.

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.