FORVIS Wealth Advisors LLC Lowers Stock Holdings in McDonald’s Co. (NYSE:MCD)

FORVIS Wealth Advisors LLC decreased its position in shares of McDonald’s Co. (NYSE:MCD) by 6.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,422 shares of the fast-food giant’s stock after selling 607 shares during the period. FORVIS Wealth Advisors LLC’s holdings in McDonald’s were worth $2,375,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in MCD. Kelly Lawrence W & Associates Inc. CA raised its position in McDonald’s by 12.5% during the third quarter. Kelly Lawrence W & Associates Inc. CA now owns 2,090 shares of the fast-food giant’s stock valued at $551,000 after purchasing an additional 233 shares in the last quarter. Jentner Corp increased its holdings in shares of McDonald’s by 6.2% in the third quarter. Jentner Corp now owns 3,750 shares of the fast-food giant’s stock worth $988,000 after buying an additional 220 shares during the period. Jackson Wealth Management LLC increased its holdings in shares of McDonald’s by 1.6% in the third quarter. Jackson Wealth Management LLC now owns 28,652 shares of the fast-food giant’s stock worth $7,548,000 after buying an additional 441 shares during the period. JT Stratford LLC increased its holdings in shares of McDonald’s by 2.4% in the third quarter. JT Stratford LLC now owns 2,720 shares of the fast-food giant’s stock worth $717,000 after buying an additional 64 shares during the period. Finally, Sei Investments Co. increased its holdings in shares of McDonald’s by 14.3% in the third quarter. Sei Investments Co. now owns 292,687 shares of the fast-food giant’s stock worth $77,105,000 after buying an additional 36,657 shares during the period. Hedge funds and other institutional investors own 70.29% of the company’s stock.

Insider Buying and Selling at McDonald’s

In other McDonald’s news, insider Joseph M. Erlinger sold 1,098 shares of the business’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $276.64, for a total transaction of $303,750.72. Following the completion of the sale, the insider now directly owns 16,977 shares in the company, valued at approximately $4,696,517.28. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, insider Joseph M. Erlinger sold 1,098 shares of the business’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $276.64, for a total transaction of $303,750.72. Following the completion of the sale, the insider now owns 16,977 shares of the company’s stock, valued at approximately $4,696,517.28. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Joseph M. Erlinger sold 1,099 shares of the business’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $265.13, for a total transaction of $291,377.87. Following the sale, the insider now directly owns 15,878 shares of the company’s stock, valued at approximately $4,209,734.14. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,593 shares of company stock worth $1,472,518. Insiders own 0.23% of the company’s stock.

McDonald’s Price Performance

NYSE MCD traded down $0.40 during mid-day trading on Friday, reaching $249.60. The stock had a trading volume of 376,925 shares, compared to its average volume of 3,402,129. McDonald’s Co. has a 1 year low of $245.73 and a 1 year high of $302.39. The stock has a market cap of $179.88 billion, a PE ratio of 21.22, a price-to-earnings-growth ratio of 2.81 and a beta of 0.71. The company has a fifty day moving average price of $261.17 and a 200 day moving average price of $278.12.

McDonald’s (NYSE:MCD) last announced its quarterly earnings data on Tuesday, April 30th. The fast-food giant reported $2.70 earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $6.17 billion during the quarter, compared to analysts’ expectations of $6.16 billion. During the same quarter in the previous year, the firm earned $2.63 earnings per share. McDonald’s’s revenue was up 4.6% on a year-over-year basis. As a group, equities research analysts expect that McDonald’s Co. will post 12.19 earnings per share for the current year.

McDonald’s Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 3rd were paid a dividend of $1.67 per share. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $6.68 dividend on an annualized basis and a yield of 2.68%. McDonald’s’s dividend payout ratio is presently 56.71%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on MCD. Erste Group Bank reiterated a “hold” rating on shares of McDonald’s in a report on Wednesday, April 3rd. Bank of America decreased their price objective on McDonald’s from $302.00 to $288.00 and set a “neutral” rating on the stock in a report on Tuesday, May 28th. Citigroup cut their target price on McDonald’s from $312.00 to $297.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 16th. Evercore ISI reissued an “outperform” rating and issued a $330.00 target price on shares of McDonald’s in a research note on Wednesday, March 27th. Finally, Guggenheim cut their target price on McDonald’s from $315.00 to $280.00 and set a “buy” rating on the stock in a research note on Tuesday. Ten research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $313.89.

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.