McDonald’s Co. (NYSE:MCD) Shares Sold by Covestor Ltd

Covestor Ltd decreased its position in shares of McDonald’s Co. (NYSE:MCD) by 17.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 696 shares of the fast-food giant’s stock after selling 150 shares during the period. Covestor Ltd’s holdings in McDonald’s were worth $196,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. American Century Companies Inc. boosted its stake in shares of McDonald’s by 19.6% during the third quarter. American Century Companies Inc. now owns 43,058 shares of the fast-food giant’s stock worth $11,343,000 after buying an additional 7,045 shares during the period. Advisor Resource Council purchased a new position in shares of McDonald’s in the 4th quarter valued at approximately $756,000. GPS Wealth Strategies Group LLC increased its holdings in shares of McDonald’s by 1.8% in the fourth quarter. GPS Wealth Strategies Group LLC now owns 14,247 shares of the fast-food giant’s stock valued at $4,224,000 after purchasing an additional 257 shares during the period. Premier Path Wealth Partners LLC purchased a new stake in shares of McDonald’s during the fourth quarter worth approximately $1,474,000. Finally, Mutual Advisors LLC lifted its holdings in shares of McDonald’s by 3.7% during the fourth quarter. Mutual Advisors LLC now owns 19,495 shares of the fast-food giant’s stock worth $5,780,000 after purchasing an additional 694 shares during the period. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Insider Activity at McDonald’s

In other McDonald’s 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 transaction, the executive vice president now owns 1,560 shares of the company’s stock, valued at $387,285.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, EVP Marion K. Gross sold 1,498 shares of the stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $248.26, for a total value of $371,893.48. Following the transaction, the executive vice president now directly owns 1,560 shares of the company’s stock, valued at approximately $387,285.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Joseph M. Erlinger sold 1,098 shares of the business’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $260.00, for a total value of $285,480.00. Following the sale, the insider now directly owns 14,780 shares of the company’s stock, valued at approximately $3,842,800. The disclosure for this sale can be found here. Over the last three months, insiders sold 4,495 shares of company stock worth $1,168,767. 0.23% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

MCD has been the subject of a number of analyst reports. Truist Financial cut their price objective on shares of McDonald’s from $320.00 to $300.00 and set a “buy” rating for the company in a research report on Tuesday, July 9th. TD Cowen reduced their price objective on shares of McDonald’s from $305.00 to $285.00 and set a “buy” rating for the company in a research report on Wednesday, July 17th. Erste Group Bank reiterated a “hold” rating on shares of McDonald’s in a research report on Wednesday, April 3rd. Bank of America reduced their price target on McDonald’s from $302.00 to $288.00 and set a “neutral” rating for the company in a report on Tuesday, May 28th. Finally, JPMorgan Chase & Co. dropped their price objective on McDonald’s from $300.00 to $290.00 and set an “overweight” rating on the stock in a report on Wednesday, July 10th. Ten research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, McDonald’s currently has a consensus rating of “Moderate Buy” and a consensus target price of $308.57.

McDonald’s Price Performance

MCD traded down $2.26 during trading on Tuesday, hitting $257.28. The company’s stock had a trading volume of 842,403 shares, compared to its average volume of 3,442,776. McDonald’s Co. has a twelve month low of $243.53 and a twelve month high of $302.39. The firm’s 50 day moving average price is $257.04 and its 200-day moving average price is $274.61. The stock has a market cap of $185.42 billion, a PE ratio of 21.87, a PEG ratio of 2.96 and a beta of 0.71.

McDonald’s (NYSE:MCD) last released its earnings results on Tuesday, April 30th. The fast-food giant reported $2.70 earnings per share for the quarter, missing the consensus estimate of $2.71 by ($0.01). McDonald’s had a negative return on equity of 180.74% and a net margin of 33.36%. The business had revenue of $6.17 billion for the quarter, compared to analysts’ expectations of $6.16 billion. During the same quarter last year, the company posted $2.63 earnings per share. The business’s quarterly revenue was up 4.6% compared to the same quarter last year. Equities analysts anticipate that McDonald’s Co. will post 12.13 earnings per share for the current year.

McDonald’s Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 3rd were given a $1.67 dividend. The ex-dividend date was Monday, June 3rd. This represents a $6.68 annualized dividend and a dividend yield of 2.60%. McDonald’s’s dividend payout ratio is presently 56.71%.

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.