Bridgeway Capital Management LLC Buys 4,653 Shares of McDonald’s Corporation $MCD

Bridgeway Capital Management LLC boosted its stake in McDonald’s Corporation (NYSE:MCD) by 6.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 79,910 shares of the fast-food giant’s stock after acquiring an additional 4,653 shares during the period. McDonald’s accounts for 0.5% of Bridgeway Capital Management LLC’s investment portfolio, making the stock its 28th largest holding. Bridgeway Capital Management LLC’s holdings in McDonald’s were worth $24,423,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Your Advocates Ltd. LLP bought a new stake in McDonald’s in the fourth quarter valued at approximately $27,000. Park Place Capital Corp boosted its holdings in McDonald’s by 95.7% in the fourth quarter. Park Place Capital Corp now owns 92 shares of the fast-food giant’s stock valued at $28,000 after acquiring an additional 45 shares during the last quarter. IFC & Insurance Marketing Inc. bought a new stake in McDonald’s in the fourth quarter valued at approximately $29,000. Abound Financial LLC bought a new stake in McDonald’s in the fourth quarter valued at approximately $30,000. Finally, DecisionPoint Financial LLC boosted its holdings in McDonald’s by 1,616.7% in the fourth quarter. DecisionPoint Financial LLC now owns 103 shares of the fast-food giant’s stock valued at $31,000 after acquiring an additional 97 shares during the last quarter. 70.29% of the stock is currently owned by institutional investors.

McDonald’s Stock Performance

Shares of MCD opened at $284.16 on Thursday. McDonald’s Corporation has a 52-week low of $271.85 and a 52-week high of $341.75. The business’s 50 day moving average price is $288.07 and its two-hundred day moving average price is $306.22. The firm has a market cap of $201.90 billion, a PE ratio of 23.43, a price-to-earnings-growth ratio of 2.87 and a beta of 0.41.

McDonald’s (NYSE:MCD) last issued its earnings results on Thursday, May 7th. The fast-food giant reported $2.83 earnings per share for the quarter, topping analysts’ consensus estimates of $2.74 by $0.09. McDonald’s had a negative return on equity of 442.10% and a net margin of 31.62%.The company had revenue of $6.52 billion for the quarter, compared to analyst estimates of $6.47 billion. During the same period in the prior year, the firm earned $2.67 earnings per share. McDonald’s’s revenue for the quarter was up 9.4% on a year-over-year basis. Research analysts predict that McDonald’s Corporation will post 12.93 EPS for the current fiscal year.

McDonald’s Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 16th. Stockholders of record on Tuesday, June 2nd were given a dividend of $1.86 per share. This represents a $7.44 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend was Tuesday, June 2nd. McDonald’s’s dividend payout ratio is presently 61.34%.

Insider Buying and Selling

In other news, EVP Desiree Ralls-Morrison sold 2,763 shares of the company’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $278.36, for a total transaction of $769,108.68. Following the transaction, the executive vice president directly owned 6,268 shares of the company’s stock, valued at $1,744,760.48. This represents a 30.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Joseph M. Erlinger sold 5,252 shares of the company’s stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $284.32, for a total value of $1,493,248.64. Following the transaction, the insider directly owned 7,734 shares in the company, valued at $2,198,930.88. The trade was a 40.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 11,307 shares of company stock worth $3,262,622 over the last ninety days. 0.26% of the stock is owned by insiders.

McDonald’s News Roundup

Here are the key news stories impacting McDonald’s this week:

• Positive Sentiment: McDonald’s is bringing back its fried apple pie after more than 30 years, a nostalgic, limited-time menu move that could support traffic and generate buzz with customers. AP News article
• Positive Sentiment: Other reports also note McDonald’s has been winning with value-oriented diners, which may help it hold up better than midtier restaurant chains as consumers trade down or seek familiar brands. Yahoo Finance article
• Neutral Sentiment: Coverage of McDonald’s reviving classic menu items, updating drive-thrus, and rebuilding older locations is mostly brand/operations news, with limited immediate impact on the stock. TheStreet article
• Neutral Sentiment: A Zacks note pointed out that MCD recently fell more than the broader market, but it did not identify a major new catalyst beyond the stock’s recent weakness. Zacks article
• Negative Sentiment: The biggest headwind is the market’s concern that restaurant spending is fragmenting, which could pressure midtier operators and keep sentiment cautious around consumer discretionary names like McDonald’s. Yahoo Finance article

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on MCD shares. BTIG Research reissued a “buy” rating and issued a $370.00 price target on shares of McDonald’s in a research note on Thursday, May 7th. Wells Fargo & Company dropped their price target on McDonald’s from $355.00 to $320.00 and set an “overweight” rating on the stock in a research note on Friday, May 8th. Erste Group Bank lowered McDonald’s from a “buy” rating to a “hold” rating in a research note on Monday, April 27th. Robert W. Baird set a $305.00 price target on McDonald’s in a research note on Thursday, May 7th. Finally, Evercore set a $350.00 price target on McDonald’s in a research note on Friday, May 8th. Sixteen investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, McDonald’s currently has a consensus rating of “Moderate Buy” and an average target price of $336.26.

McDonald’s Company 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.