Trueblood Wealth Management LLC Decreases Stake in McDonald’s Co. (NYSE:MCD)

Trueblood Wealth Management LLC trimmed its holdings in shares of McDonald’s Co. (NYSE:MCD) by 7.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,465 shares of the fast-food giant’s stock after selling 487 shares during the period. McDonald’s comprises 0.9% of Trueblood Wealth Management LLC’s investment portfolio, making the stock its 23rd largest position. Trueblood Wealth Management LLC’s holdings in McDonald’s were worth $1,647,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of MCD. Dixon Mitchell Investment Counsel Inc. purchased a new stake in McDonald’s during the 1st quarter worth $28,000. Clear Investment Research LLC acquired a new stake in shares of McDonald’s in the fourth quarter valued at about $38,000. Atlantic Edge Private Wealth Management LLC acquired a new stake in shares of McDonald’s in the fourth quarter valued at about $39,000. Kings Path Partners LLC purchased a new stake in shares of McDonald’s during the 2nd quarter valued at about $38,000. Finally, Accent Capital Management LLC acquired a new stake in McDonald’s during the 4th quarter valued at $44,000. 70.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MCD has been the subject of a number of analyst reports. Citigroup decreased their price objective on shares of McDonald’s from $280.00 to $275.00 and set a “neutral” rating for the company in a research report on Tuesday, July 30th. Wedbush restated an “outperform” rating and set a $295.00 price objective on shares of McDonald’s in a research note on Monday, July 29th. Truist Financial reduced their target price on McDonald’s from $300.00 to $295.00 and set a “buy” rating for the company in a research note on Tuesday, July 30th. Jefferies Financial Group lifted their price target on shares of McDonald’s from $310.00 to $330.00 and gave the stock a “buy” rating in a research note on Monday. Finally, The Goldman Sachs Group initiated coverage on shares of McDonald’s in a research note on Thursday, June 13th. They set a “neutral” rating and a $288.00 price objective on the stock. Eleven equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat.com, McDonald’s presently has an average rating of “Moderate Buy” and an average target price of $304.41.

McDonald’s Trading Down 0.4 %

Shares of NYSE MCD opened at $290.14 on Thursday. McDonald’s Co. has a 12-month low of $243.53 and a 12-month high of $302.39. The company has a market cap of $209.10 billion, a PE ratio of 24.63, a P/E/G ratio of 3.87 and a beta of 0.72. The stock has a 50 day simple moving average of $271.14 and a 200-day simple moving average of $270.66.

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

McDonald’s Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be paid a dividend of $1.67 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $6.68 annualized dividend and a yield of 2.30%. McDonald’s’s payout ratio is 56.71%.

Insiders Place Their Bets

In other McDonald’s news, EVP Marion K. Gross sold 1,498 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now directly owns 1,560 shares in the company, valued at $387,285.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Joseph M. Erlinger sold 1,098 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $288.70, for a total transaction of $316,992.60. Following the completion of the sale, the insider now directly owns 12,583 shares of the company’s stock, valued at $3,632,712.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Marion K. Gross sold 1,498 shares of McDonald’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $248.26, for a total transaction of $371,893.48. Following the completion of the transaction, the executive vice president now owns 1,560 shares in the company, valued at approximately $387,285.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,291 shares of company stock worth $1,689,073. 0.23% of the stock is owned by corporate insiders.

McDonald’s Company 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.