Sunbelt Securities Inc. Lowers Position in McDonald’s Co. (NYSE:MCD)

Sunbelt Securities Inc. lowered its holdings in McDonald’s Co. (NYSE:MCD) by 0.8% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,543 shares of the fast-food giant’s stock after selling 78 shares during the period. Sunbelt Securities Inc.’s holdings in McDonald’s were worth $2,432,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Concentric Wealth Management LLC grew its holdings in McDonald’s by 1.4% during the fourth quarter. Concentric Wealth Management LLC now owns 2,551 shares of the fast-food giant’s stock valued at $756,000 after purchasing an additional 35 shares during the period. 9258 Wealth Management LLC boosted its stake in shares of McDonald’s by 1.3% in the first quarter. 9258 Wealth Management LLC now owns 2,833 shares of the fast-food giant’s stock worth $799,000 after acquiring an additional 37 shares during the period. Independence Bank of Kentucky boosted its stake in shares of McDonald’s by 1.3% in the first quarter. Independence Bank of Kentucky now owns 2,913 shares of the fast-food giant’s stock worth $821,000 after acquiring an additional 38 shares during the period. Weatherly Asset Management L. P. boosted its stake in shares of McDonald’s by 0.9% in the first quarter. Weatherly Asset Management L. P. now owns 4,378 shares of the fast-food giant’s stock worth $1,234,000 after acquiring an additional 38 shares during the period. Finally, Bernardo Wealth Planning LLC boosted its stake in shares of McDonald’s by 1.9% in the first quarter. Bernardo Wealth Planning LLC now owns 2,026 shares of the fast-food giant’s stock worth $571,000 after acquiring an additional 38 shares during the period. Hedge funds and other institutional investors own 70.29% of the company’s stock.

McDonald’s Stock Up 0.0 %

Shares of NYSE:MCD opened at $303.69 on Monday. The stock has a market cap of $218.86 billion, a P/E ratio of 25.78, a price-to-earnings-growth ratio of 3.99 and a beta of 0.72. The business’s 50 day moving average is $281.71 and its 200 day moving average is $270.93. McDonald’s Co. has a 52-week low of $243.53 and a 52-week high of $306.96.

McDonald’s (NYSE:MCD) last announced its 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). The company had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.62 billion. McDonald’s had a net margin of 32.25% and a negative return on equity of 178.68%. The firm’s revenue was down .1% compared to the same quarter last year. During the same period last year, the business posted $3.17 EPS. On average, sell-side analysts anticipate that McDonald’s Co. will post 11.69 EPS for the current fiscal year.

McDonald’s Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a dividend of $1.77 per share. This represents a $7.08 annualized dividend and a yield of 2.33%. The ex-dividend date is Monday, December 2nd. This is a boost from McDonald’s’s previous quarterly dividend of $1.67. McDonald’s’s dividend payout ratio (DPR) is 56.71%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on MCD. Deutsche Bank Aktiengesellschaft dropped their price objective on McDonald’s from $295.00 to $290.00 and set a “buy” rating for the company in a research note on Tuesday, July 30th. Truist Financial decreased their target price on McDonald’s from $300.00 to $295.00 and set a “buy” rating on the stock in a research report on Tuesday, July 30th. Stifel Nicolaus decreased their target price on McDonald’s from $285.00 to $265.00 and set a “hold” rating on the stock in a research report on Monday, July 22nd. Morgan Stanley decreased their target price on McDonald’s from $312.00 to $300.00 and set an “overweight” rating on the stock in a research report on Thursday, July 11th. Finally, Evercore ISI boosted their target price on McDonald’s from $300.00 to $320.00 and gave the stock an “outperform” rating in a research report on Monday, August 19th. Eleven analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $308.22.

Insider Buying and Selling at McDonald’s

In other McDonald’s news, EVP Marion K. Gross sold 1,498 shares of the stock in a transaction 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 sale, the executive vice president now owns 1,560 shares of the company’s stock, valued at approximately $387,285.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Joseph M. Erlinger sold 1,099 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $260.00, for a total value of $285,740.00. Following the completion of the sale, the insider now owns 13,681 shares of the company’s stock, valued at approximately $3,557,060. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Marion K. Gross sold 1,498 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at approximately $387,285.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 33,249 shares of company stock valued at $9,865,866. 0.23% of the stock is currently owned by corporate insiders.

About McDonald’s

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.