Bank Pictet & Cie Europe AG Sells 1,941 Shares of McDonald’s Corporation $MCD

Bank Pictet & Cie Europe AG lessened its holdings in shares of McDonald’s Corporation (NYSE:MCD) by 1.0% during the 3rd quarter, Holdings Channel.com reports. The fund owned 186,609 shares of the fast-food giant’s stock after selling 1,941 shares during the period. McDonald’s comprises approximately 1.1% of Bank Pictet & Cie Europe AG’s investment portfolio, making the stock its 25th biggest position. Bank Pictet & Cie Europe AG’s holdings in McDonald’s were worth $56,709,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Hamilton Capital LLC lifted its position in McDonald’s by 35.2% during the 1st quarter. Hamilton Capital LLC now owns 3,145 shares of the fast-food giant’s stock worth $982,000 after acquiring an additional 819 shares during the last quarter. Federated Hermes Inc. increased its stake in shares of McDonald’s by 84.1% in the second quarter. Federated Hermes Inc. now owns 141,775 shares of the fast-food giant’s stock worth $41,422,000 after purchasing an additional 64,757 shares during the period. Welch Group LLC lifted its position in shares of McDonald’s by 1.1% during the 2nd quarter. Welch Group LLC now owns 206,004 shares of the fast-food giant’s stock worth $60,188,000 after purchasing an additional 2,180 shares during the last quarter. Global X Japan Co. Ltd. lifted its position in shares of McDonald’s by 236.7% during the 3rd quarter. Global X Japan Co. Ltd. now owns 6,502 shares of the fast-food giant’s stock worth $1,976,000 after purchasing an additional 4,571 shares during the last quarter. Finally, Choreo LLC boosted its stake in McDonald’s by 1.7% during the 2nd quarter. Choreo LLC now owns 58,515 shares of the fast-food giant’s stock valued at $17,096,000 after purchasing an additional 954 shares during the period. Institutional investors and hedge funds own 70.29% of the company’s stock.

McDonald’s Stock Down 0.8%

Shares of MCD opened at $305.65 on Friday. The company has a 50-day moving average price of $307.93 and a two-hundred day moving average price of $304.21. The stock has a market cap of $217.67 billion, a price-to-earnings ratio of 26.08, a P/E/G ratio of 3.40 and a beta of 0.53. McDonald’s Corporation has a 12 month low of $276.53 and a 12 month high of $326.32.

McDonald’s (NYSE:MCD) last released its quarterly earnings data on Wednesday, November 5th. The fast-food giant reported $3.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.33 by ($0.11). The company had revenue of $7.08 billion for the quarter, compared to analyst estimates of $7.10 billion. McDonald’s had a negative return on equity of 280.89% and a net margin of 32.04%.The business’s revenue was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.23 earnings per share. Equities research analysts expect that McDonald’s Corporation will post 12.25 EPS for the current fiscal year.

McDonald’s Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were paid a dividend of $1.86 per share. This is a positive change from McDonald’s’s previous quarterly dividend of $1.77. This represents a $7.44 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend was Monday, December 1st. McDonald’s’s payout ratio is currently 63.48%.

Wall Street Analyst Weigh In

Several research analysts have commented on MCD shares. Robert W. Baird lifted their price target on McDonald’s from $322.00 to $325.00 and gave the stock a “neutral” rating in a research report on Thursday, November 6th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of McDonald’s in a research report on Friday, October 31st. Wells Fargo & Company increased their price target on shares of McDonald’s from $340.00 to $345.00 and gave the company an “overweight” rating in a report on Thursday, November 6th. Truist Financial cut their price objective on shares of McDonald’s from $360.00 to $350.00 and set a “buy” rating for the company in a research report on Tuesday, October 14th. Finally, Morgan Stanley set a $335.00 price target on McDonald’s in a research note on Friday, October 17th. Eleven investment analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $324.57.

Insider Activity

In related news, CFO Ian Frederick Borden sold 17,134 shares of the company’s stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $310.00, for a total transaction of $5,311,540.00. Following the transaction, the chief financial officer owned 26,353 shares in the company, valued at $8,169,430. This represents a 39.40% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Joseph M. Erlinger sold 3,195 shares of the firm’s stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $305.82, for a total transaction of $977,094.90. Following the completion of the sale, the insider owned 6,088 shares of the company’s stock, valued at $1,861,832.16. The trade was a 34.42% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 42,516 shares of company stock worth $13,036,090. Corporate insiders own 0.25% of the company’s stock.

McDonald’s Profile

McDonald’s Corporation (NYSE: MCD) is a global quick-service restaurant company best known for its hamburgers, French fries and breakfast offerings. The company develops, operates and franchises a system of restaurants that sell a range of food and beverage items, including signature products such as the Big Mac, Quarter Pounder, Chicken McNuggets, McCafé coffee beverages and a variety of salads, desserts and seasonal menu items. McDonald’s serves customers through company-operated restaurants and franchised locations, and it supports sales via dine-in, drive-thru, digital ordering platforms and third-party delivery partnerships.

Founded in 1940 by brothers Richard and Maurice McDonald as a single San Bernardino, California restaurant, the business was transformed into a franchising model after Ray Kroc joined in the mid-1950s and led the brand’s national and international expansion.