Axxcess Wealth Management LLC Has $7.95 Million Position in McDonald’s Corporation (NYSE:MCD)

Axxcess Wealth Management LLC reduced its stake in shares of McDonald’s Corporation (NYSE:MCD) by 4.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,434 shares of the fast-food giant’s stock after selling 1,212 shares during the quarter. Axxcess Wealth Management LLC’s holdings in McDonald’s were worth $7,945,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Mascagni Wealth Management Inc. acquired a new stake in shares of McDonald’s during the fourth quarter worth about $25,000. Atala Financial Inc bought a new position in shares of McDonald’s during the 4th quarter worth approximately $26,000. Abound Financial LLC bought a new position in shares of McDonald’s during the 1st quarter worth approximately $30,000. Pinney & Scofield Inc. bought a new position in shares of McDonald’s during the 4th quarter worth approximately $29,000. Finally, Redmont Wealth Advisors LLC bought a new stake in McDonald’s in the 1st quarter valued at $31,000. Institutional investors own 70.29% of the company’s stock.

Insider Buying and Selling

In other McDonald’s news, insider Joseph M. Erlinger sold 939 shares of McDonald’s stock in a transaction on Monday, June 23rd. The shares were sold at an average price of $288.52, for a total value of $270,920.28. Following the sale, the insider directly owned 10,222 shares in the company, valued at approximately $2,949,251.44. The trade was a 8.41% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Over the last quarter, insiders have sold 2,817 shares of company stock valued at $865,843. Insiders own 0.25% of the company’s stock.

McDonald’s Stock Down 0.6%

MCD opened at $291.70 on Wednesday. The firm has a market capitalization of $208.57 billion, a P/E ratio of 25.75, a price-to-earnings-growth ratio of 3.06 and a beta of 0.53. McDonald’s Corporation has a 12-month low of $243.53 and a 12-month high of $326.32. The stock’s 50 day moving average price is $305.18 and its two-hundred day moving average price is $302.45.

McDonald’s (NYSE:MCD) last announced its earnings results on Thursday, May 1st. The fast-food giant reported $2.67 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $2.67. McDonald’s had a net margin of 31.75% and a negative return on equity of 195.27%. The business had revenue of $5.96 billion during the quarter, compared to analysts’ expectations of $6.17 billion. During the same quarter last year, the company posted $2.70 EPS. The firm’s revenue for the quarter was down 3.5% on a year-over-year basis. As a group, 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 Monday, June 16th. Stockholders of record on Monday, June 2nd were given a dividend of $1.77 per share. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.43%. McDonald’s’s dividend payout ratio is 62.49%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on MCD shares. KeyCorp lowered their price target on McDonald’s from $340.00 to $325.00 and set an “overweight” rating for the company in a report on Monday, June 30th. Piper Sandler upped their target price on McDonald’s from $292.00 to $314.00 and gave the company a “neutral” rating in a research report on Friday, May 2nd. Barclays increased their price target on McDonald’s from $347.00 to $355.00 and gave the stock an “overweight” rating in a report on Friday, May 2nd. Robert W. Baird increased their price objective on McDonald’s from $300.00 to $315.00 and gave the stock a “neutral” rating in a research note on Friday, May 2nd. Finally, Redburn Atlantic reaffirmed a “sell” rating and set a $260.00 price target (down from $319.00) on shares of McDonald’s in a research report on Tuesday, June 10th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $321.17.

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.