McDonald’s Co. (NYSE:MCD) Holdings Cut by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC reduced its stake in shares of McDonald’s Co. (NYSE:MCD) by 0.2% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 584,454 shares of the fast-food giant’s stock after selling 940 shares during the period. Commonwealth Equity Services LLC owned 0.08% of McDonald’s worth $148,942,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Aigen Investment Management LP acquired a new stake in McDonald’s in the fourth quarter valued at approximately $4,286,000. Strait & Sound Wealth Management LLC acquired a new stake in shares of McDonald’s in the 4th quarter valued at $211,000. Vestor Capital LLC boosted its holdings in McDonald’s by 40.4% in the fourth quarter. Vestor Capital LLC now owns 74,427 shares of the fast-food giant’s stock worth $22,068,000 after purchasing an additional 21,413 shares in the last quarter. California State Teachers Retirement System increased its position in McDonald’s by 1.4% during the fourth quarter. California State Teachers Retirement System now owns 1,180,928 shares of the fast-food giant’s stock worth $350,157,000 after buying an additional 15,863 shares during the last quarter. Finally, Keystone Financial Group raised its holdings in McDonald’s by 5.9% during the fourth quarter. Keystone Financial Group now owns 8,995 shares of the fast-food giant’s stock valued at $2,667,000 after buying an additional 499 shares in the last quarter. 70.29% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Marion K. Gross sold 1,498 shares of the stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $248.26, for a total transaction of $371,893.48. Following the sale, the executive vice president now directly owns 1,560 shares of the company’s stock, valued at $387,285.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Joseph M. Erlinger sold 1,099 shares of the company’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $260.00, for a total transaction of $285,740.00. Following the transaction, the insider now owns 13,681 shares of the company’s stock, valued at $3,557,060. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Marion K. Gross sold 1,498 shares of McDonald’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $248.26, for a total value of $371,893.48. Following the completion of the sale, the executive vice president now owns 1,560 shares of the company’s stock, valued at $387,285.60. The disclosure for this sale can be found here. Over the last three months, insiders sold 4,793 shares of company stock valued at $1,260,106. Insiders own 0.23% of the company’s stock.

McDonald’s Price Performance

Shares of MCD stock opened at $288.66 on Friday. The firm has a market cap of $207.07 billion, a price-to-earnings ratio of 24.50, a P/E/G ratio of 3.86 and a beta of 0.71. The stock’s fifty day simple moving average is $265.62 and its 200 day simple moving average is $270.88. McDonald’s Co. has a one year low of $243.53 and a one year high of $302.39.

McDonald’s (NYSE:MCD) last released its quarterly earnings results on Monday, July 29th. The fast-food giant reported $2.97 EPS for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.10). The business had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.62 billion. McDonald’s had a negative return on equity of 178.68% and a net margin of 32.25%. The firm’s revenue was down .1% on a year-over-year basis. During the same quarter last year, the company earned $3.17 earnings per share. On average, research analysts anticipate that McDonald’s Co. will post 11.67 earnings per share for the current year.

McDonald’s Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be given a $1.67 dividend. This represents a $6.68 annualized dividend and a yield of 2.31%. The ex-dividend date is Tuesday, September 3rd. McDonald’s’s payout ratio is presently 56.71%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Truist Financial lowered their price objective on McDonald’s from $300.00 to $295.00 and set a “buy” rating on the stock in a report on Tuesday, July 30th. Wedbush reissued an “outperform” rating and issued a $295.00 price target on shares of McDonald’s in a research report on Monday, July 29th. Jefferies Financial Group reduced their price objective on shares of McDonald’s from $320.00 to $310.00 and set a “buy” rating for the company in a research note on Monday, July 29th. JPMorgan Chase & Co. lowered their target price on shares of McDonald’s from $290.00 to $270.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 30th. Finally, Bank of America cut their target price on shares of McDonald’s from $288.00 to $278.00 and set a “neutral” rating for the company in a research report on Tuesday, July 30th. Eleven research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $303.71.

McDonald’s Profile

McDonald's Corporation operates and franchises restaurants under the McDonald's brand in the United States and internationally. It offers food and beverages, including hamburgers and cheeseburgers, various chicken sandwiches, fries, shakes, desserts, sundaes, cookies, pies, soft drinks, coffee, and other beverages; and full or limited breakfast, as well as sells various other products during limited-time promotions.