Private Asset Management Inc. Trims Holdings in McDonald’s Co. (NYSE:MCD)

Private Asset Management Inc. decreased its holdings in McDonald’s Co. (NYSE:MCD) by 4.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,856 shares of the fast-food giant’s stock after selling 95 shares during the quarter. Private Asset Management Inc.’s holdings in McDonald’s were worth $554,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of MCD. First Fiduciary Investment Counsel Inc. raised its position in McDonald’s by 12.5% during the 1st quarter. First Fiduciary Investment Counsel Inc. now owns 900 shares of the fast-food giant’s stock worth $252,000 after buying an additional 100 shares during the last quarter. MBE Wealth Management LLC raised its position in McDonald’s by 4.5% during the 1st quarter. MBE Wealth Management LLC now owns 1,825 shares of the fast-food giant’s stock worth $510,000 after buying an additional 79 shares during the last quarter. Avantax Advisory Services Inc. raised its position in McDonald’s by 20.3% during the 1st quarter. Avantax Advisory Services Inc. now owns 43,252 shares of the fast-food giant’s stock worth $12,094,000 after buying an additional 7,312 shares during the last quarter. Litman Gregory Wealth Management LLC purchased a new position in McDonald’s during the 1st quarter worth $315,000. Finally, Park Avenue Securities LLC raised its position in McDonald’s by 0.3% during the 1st quarter. Park Avenue Securities LLC now owns 19,390 shares of the fast-food giant’s stock worth $5,422,000 after buying an additional 63 shares during the last quarter. Hedge funds and other institutional investors own 67.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on MCD. Oppenheimer upped their price objective on shares of McDonald’s from $315.00 to $330.00 in a research report on Friday, July 28th. BMO Capital Markets increased their price target on shares of McDonald’s from $325.00 to $340.00 and gave the company an “outperform” rating in a report on Friday, July 28th. Citigroup increased their price target on shares of McDonald’s from $308.00 to $317.00 and gave the company a “neutral” rating in a report on Friday, July 28th. Royal Bank of Canada increased their price target on shares of McDonald’s from $325.00 to $340.00 and gave the company an “outperform” rating in a report on Friday, July 28th. Finally, Piper Sandler started coverage on shares of McDonald’s in a report on Wednesday, June 14th. They issued a “neutral” rating and a $308.00 price target for the company. Five equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $323.17.

McDonald’s Stock Up 1.1 %

MCD opened at $284.84 on Friday. The firm has a market capitalization of $207.58 billion, a P/E ratio of 26.20, a P/E/G ratio of 2.75 and a beta of 0.64. The firm’s 50 day moving average is $287.75 and its 200-day moving average is $285.82. McDonald’s Co. has a 52-week low of $230.58 and a 52-week high of $299.35.

McDonald’s (NYSE:MCD) last posted its quarterly earnings data on Thursday, July 27th. The fast-food giant reported $3.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.77 by $0.40. The company had revenue of $6.50 billion for the quarter, compared to analyst estimates of $6.30 billion. McDonald’s had a net margin of 33.06% and a negative return on equity of 139.57%. The business’s quarterly revenue was up 13.6% on a year-over-year basis. During the same quarter last year, the firm posted $2.55 earnings per share. Equities analysts expect that McDonald’s Co. will post 11.49 earnings per share for the current fiscal year.

McDonald’s Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 18th. Stockholders of record on Friday, September 1st will be given a dividend of $1.52 per share. This represents a $6.08 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date is Thursday, August 31st. McDonald’s’s payout ratio is currently 55.93%.

Insider Transactions at McDonald’s

In other news, EVP Marion K. Gross sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $289.52, for a total transaction of $868,560.00. Following the completion of the sale, the executive vice president now owns 1,605 shares of the company’s stock, valued at $464,679.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Marion K. Gross sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $289.52, for a total transaction of $868,560.00. Following the completion of the sale, the executive vice president now owns 1,605 shares of the company’s stock, valued at $464,679.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Joseph M. Erlinger sold 4,487 shares of the firm’s stock in a transaction that occurred on Friday, July 21st. The stock was sold at an average price of $297.87, for a total transaction of $1,336,542.69. Following the sale, the insider now directly owns 11,412 shares of the company’s stock, valued at approximately $3,399,292.44. The disclosure for this sale can be found here. Over the last quarter, insiders sold 18,149 shares of company stock valued at $5,257,201. 0.27% of the stock is currently owned by corporate insiders.

McDonald’s Company Profile

McDonald's Corporation operates and franchises McDonald's restaurants in the United States and internationally. The company's restaurants offer hamburgers and cheeseburgers, chicken sandwiches and nuggets, fries, salads, shakes, frozen desserts, sundaes, soft serve cones, bakery items, soft drinks, coffee, and beverages and other beverages, as well as breakfast menu, including muffins, Sausages, biscuit and bagel sandwiches, oatmeal, hash browns, breakfast burritos and hotcakes.