Axxcess Wealth Management LLC Sells 382 Shares of McDonald’s Corporation $MCD

Axxcess Wealth Management LLC cut its stake in shares of McDonald’s Corporation (NYSE:MCD) by 1.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 25,052 shares of the fast-food giant’s stock after selling 382 shares during the quarter. Axxcess Wealth Management LLC’s holdings in McDonald’s were worth $7,319,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Jag Capital Management LLC grew its stake in shares of McDonald’s by 32.7% during the 2nd quarter. Jag Capital Management LLC now owns 1,428 shares of the fast-food giant’s stock valued at $417,000 after acquiring an additional 352 shares during the period. Cornerstone Wealth Group LLC lifted its holdings in McDonald’s by 0.7% in the 2nd quarter. Cornerstone Wealth Group LLC now owns 24,995 shares of the fast-food giant’s stock worth $7,303,000 after purchasing an additional 173 shares in the last quarter. Concord Asset Management LLC VA lifted its holdings in McDonald’s by 17.9% in the 2nd quarter. Concord Asset Management LLC VA now owns 7,310 shares of the fast-food giant’s stock worth $2,136,000 after purchasing an additional 1,111 shares in the last quarter. Total Clarity Wealth Management Inc. lifted its holdings in McDonald’s by 5.4% in the 2nd quarter. Total Clarity Wealth Management Inc. now owns 2,223 shares of the fast-food giant’s stock worth $650,000 after purchasing an additional 113 shares in the last quarter. Finally, MGO One Seven LLC lifted its holdings in McDonald’s by 5.0% in the 2nd quarter. MGO One Seven LLC now owns 18,610 shares of the fast-food giant’s stock worth $5,437,000 after purchasing an additional 879 shares in the last quarter. 70.29% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CMO Edith Morgan Flatley sold 1,000 shares of McDonald’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $315.00, for a total transaction of $315,000.00. Following the transaction, the chief marketing officer directly owned 6,858 shares of the company’s stock, valued at approximately $2,160,270. This represents a 12.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,402 shares of company stock worth $1,973,407. 0.25% of the stock is currently owned by corporate insiders.

McDonald’s Stock Up 1.0%

McDonald’s stock opened at $300.10 on Tuesday. The company has a market cap of $214.15 billion, a price-to-earnings ratio of 25.72, a PEG ratio of 3.12 and a beta of 0.50. The firm’s fifty day moving average is $306.23 and its 200 day moving average is $305.64. McDonald’s Corporation has a 52-week low of $276.53 and a 52-week high of $326.32.

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

McDonald’s Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research firms recently commented on MCD. Weiss Ratings reissued a “buy (b)” rating on shares of McDonald’s in a report on Wednesday, October 8th. Evercore ISI boosted their price target on McDonald’s from $350.00 to $360.00 and gave the stock an “outperform” rating in a report on Friday, August 8th. Royal Bank Of Canada began coverage on McDonald’s in a report on Wednesday, October 8th. They issued a “sector perform” rating and a $320.00 price target on the stock. Bank of America lowered their price target on McDonald’s from $327.00 to $322.00 and set a “neutral” rating on the stock in a report on Friday, July 18th. Finally, Citigroup boosted their price target on McDonald’s from $373.00 to $381.00 and gave the stock a “buy” rating in a report on Wednesday, September 17th. Eleven investment analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $325.18.

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.