SPC Financial Inc. cut its stake in shares of McDonald’s Corporation (NYSE:MCD – Free Report) by 7.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,148 shares of the fast-food giant’s stock after selling 348 shares during the quarter. SPC Financial Inc.’s holdings in McDonald’s were worth $1,212,000 as of its most recent SEC filing.
Several other hedge funds have also recently modified their holdings of MCD. HFM Investment Advisors LLC acquired a new stake in shares of McDonald’s during the first quarter worth $26,000. Nova Wealth Management Inc. acquired a new stake in shares of McDonald’s during the first quarter worth $26,000. GFG Capital LLC acquired a new stake in McDonald’s in the second quarter valued at $29,000. Abound Financial LLC acquired a new stake in McDonald’s in the first quarter valued at $30,000. Finally, Redmont Wealth Advisors LLC acquired a new stake in McDonald’s in the first quarter valued at $31,000. 70.29% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
MCD has been the subject of a number of recent analyst reports. Piper Sandler raised their target price on McDonald’s from $314.00 to $325.00 and gave the company a “neutral” rating in a report on Thursday, August 7th. Truist Financial raised their target price on McDonald’s from $356.00 to $360.00 and gave the company a “buy” rating in a report on Thursday, August 7th. Morgan Stanley raised their target price on McDonald’s from $324.00 to $326.00 and gave the company an “equal weight” rating in a report on Monday, July 14th. BMO Capital Markets raised their target price on McDonald’s from $350.00 to $360.00 and gave the company an “outperform” rating in a report on Thursday, September 4th. Finally, Stifel Nicolaus raised their target price on McDonald’s from $300.00 to $315.00 and gave the company a “hold” rating in a report on Friday, August 22nd. Eleven research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, McDonald’s presently has a consensus rating of “Hold” and an average target price of $325.18.
Insider Transactions at McDonald’s
In related news, insider Joseph M. Erlinger sold 939 shares of McDonald’s stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $299.49, for a total transaction of $281,221.11. Following the completion of the sale, the insider owned 9,283 shares in the company, valued at approximately $2,780,165.67. This trade represents a 9.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Desiree Ralls-Morrison sold 2,487 shares of McDonald’s stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $310.00, for a total value of $770,970.00. Following the sale, the executive vice president owned 8,754 shares of the company’s stock, valued at approximately $2,713,740. This represents a 22.12% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,402 shares of company stock worth $1,973,407. Corporate insiders own 0.25% of the company’s stock.
McDonald’s Stock Up 1.1%
Shares of MCD stock opened at $297.07 on Friday. McDonald’s Corporation has a fifty-two week low of $276.53 and a fifty-two week high of $326.32. The stock has a market cap of $211.99 billion, a P/E ratio of 25.46, a P/E/G ratio of 3.12 and a beta of 0.50. The business has a fifty day simple moving average of $306.31 and a 200-day simple moving average of $305.74.
McDonald’s (NYSE:MCD – Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $6.84 billion during the quarter, compared to analysts’ expectations of $6.68 billion. During the same quarter last year, the business posted $2.97 earnings per share. The business’s revenue for the quarter was up 5.4% on a year-over-year basis. On average, sell-side analysts anticipate that McDonald’s Corporation will post 12.25 earnings per share for the current year.
McDonald’s Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd were given a $1.77 dividend. The ex-dividend date was Tuesday, September 2nd. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.4%. McDonald’s’s dividend payout ratio (DPR) is currently 60.67%.
McDonald’s 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.
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