Abel Hall LLC Sells 49 Shares of McDonald’s Corporation $MCD

Abel Hall LLC trimmed its holdings in McDonald’s Corporation (NYSE:MCD) by 3.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,462 shares of the fast-food giant’s stock after selling 49 shares during the quarter. Abel Hall LLC’s holdings in McDonald’s were worth $427,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Nova Wealth Management Inc. acquired a new position in shares of McDonald’s in the first quarter valued at $26,000. HFM Investment Advisors LLC acquired a new position in shares of McDonald’s in the first quarter valued at $26,000. Abound Financial LLC acquired a new position in shares of McDonald’s in the first quarter valued at $30,000. Redmont Wealth Advisors LLC acquired a new position in shares of McDonald’s in the first quarter valued at $31,000. Finally, Financial Gravity Asset Management Inc. acquired a new position in shares of McDonald’s in the first quarter valued at $31,000. 70.29% of the stock is owned by institutional investors.

McDonald’s Price Performance

McDonald’s stock opened at $296.35 on Wednesday. The stock has a fifty day moving average price of $306.74 and a two-hundred day moving average price of $306.02. McDonald’s Corporation has a 52-week low of $276.53 and a 52-week high of $326.32. The firm has a market capitalization of $211.47 billion, a P/E ratio of 25.39, a P/E/G ratio of 3.01 and a beta of 0.50.

McDonald’s (NYSE:MCD) last released its quarterly earnings data on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.15 by $0.04. McDonald’s had a negative return on equity of 225.52% and a net margin of 32.21%.The firm had revenue of $6.84 billion during the quarter, compared to analyst estimates of $6.68 billion. During the same period in the prior year, the company posted $2.97 earnings per share. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. On average, equities research analysts predict that McDonald’s Corporation will post 12.25 EPS for the current fiscal year.

McDonald’s Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd were issued a dividend of $1.77 per share. This represents a $7.08 annualized dividend and a dividend yield of 2.4%. The ex-dividend date was Tuesday, September 2nd. McDonald’s’s dividend payout ratio is presently 60.67%.

Analysts Set New Price Targets

A number of research analysts recently commented on MCD shares. Barclays upped their target price on McDonald’s from $355.00 to $360.00 and gave the company an “overweight” rating in a research note on Thursday, August 7th. Melius started coverage on McDonald’s in a research note on Monday, July 14th. They issued a “sell” rating and a $250.00 target price for the company. Morgan Stanley upped their target price on McDonald’s from $324.00 to $326.00 and gave the company an “equal weight” rating in a research note on Monday, July 14th. Bank of America cut their target price on McDonald’s from $327.00 to $322.00 and set a “neutral” rating for the company in a research note on Friday, July 18th. Finally, Citigroup upped their target price on McDonald’s from $373.00 to $381.00 and gave the company a “buy” rating in a research note on Wednesday, September 17th. Twelve research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $325.86.

Insiders Place Their Bets

In other news, EVP Desiree Ralls-Morrison sold 2,487 shares of the stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $310.00, for a total transaction of $770,970.00. Following the sale, the executive vice president owned 8,754 shares in the company, valued at approximately $2,713,740. This represents a 22.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Joseph M. Erlinger sold 939 shares of the stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $299.49, for a total value of $281,221.11. Following the sale, the insider owned 9,283 shares in the company, valued at $2,780,165.67. The trade was a 9.19% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,402 shares of company stock worth $2,273,407 over the last ninety days. Company insiders own 0.25% of the company’s stock.

McDonald’s Company Profile

McDonald’s Corp. engages in the operation and franchising of restaurants. It operates through the following segments: U.S., International Operated Markets, and International Developmental Licensed Markets and Corporate. The U.S. segment focuses its operations on the United States. The International Operated Markets segment consists of operations and the franchising of restaurants in Australia, Canada, France, Germany, Italy, the Netherlands, Spain, and the U.K.