Principle Wealth Partners LLC Reduces Stock Position in McDonald’s Corporation (NYSE:MCD)

Principle Wealth Partners LLC decreased its holdings in McDonald’s Corporation (NYSE:MCDFree Report) by 0.2% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 67,645 shares of the fast-food giant’s stock after selling 134 shares during the quarter. McDonald’s accounts for 1.5% of Principle Wealth Partners LLC’s portfolio, making the stock its 15th largest position. Principle Wealth Partners LLC’s holdings in McDonald’s were worth $21,130,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Mascagni Wealth Management Inc. acquired a new position in shares of McDonald’s during the fourth quarter valued at about $25,000. Pinney & Scofield Inc. purchased a new position in McDonald’s in the 4th quarter valued at $29,000. GKV Capital Management Co. Inc. acquired a new stake in shares of McDonald’s in the 4th quarter worth $30,000. Abound Financial LLC acquired a new stake in shares of McDonald’s during the 1st quarter worth about $30,000. Finally, Copia Wealth Management acquired a new stake in shares of McDonald’s during the 4th quarter worth about $31,000. Hedge funds and other institutional investors own 70.29% of the company’s stock.

McDonald’s Stock Down 0.8%

NYSE:MCD traded down $2.29 on Thursday, hitting $295.83. The stock had a trading volume of 626,779 shares, compared to its average volume of 3,582,903. The company has a fifty day moving average price of $301.79 and a two-hundred day moving average price of $302.83. The stock has a market cap of $211.53 billion, a price-to-earnings ratio of 26.13, a PEG ratio of 3.13 and a beta of 0.53. McDonald’s Corporation has a 1-year low of $250.23 and a 1-year high of $326.32.

McDonald’s (NYSE:MCDGet Free Report) last issued its earnings results on Thursday, May 1st. The fast-food giant reported $2.67 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.67. The business had revenue of $5.96 billion during the quarter, compared to analysts’ expectations of $6.17 billion. McDonald’s had a net margin of 31.75% and a negative return on equity of 195.27%. The company’s revenue for the quarter was down 3.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.70 EPS. As a group, analysts anticipate that McDonald’s Corporation will post 12.25 earnings per share for the current year.

McDonald’s Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd will be paid a dividend of $1.77 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $7.08 annualized dividend and a dividend yield of 2.39%. McDonald’s’s dividend payout ratio is currently 62.49%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on MCD shares. Truist Financial lifted their price objective on McDonald’s from $350.00 to $356.00 and gave the company a “buy” rating in a research note on Wednesday, July 9th. Melius started coverage on McDonald’s in a research report on Monday, July 14th. They set a “sell” rating and a $250.00 price target on the stock. Morgan Stanley boosted their target price on McDonald’s from $324.00 to $326.00 and gave the company an “equal weight” rating in a report on Monday, July 14th. Citigroup lifted their price target on McDonald’s from $364.00 to $365.00 and gave the company a “buy” rating in a research note on Wednesday, July 9th. Finally, Barclays boosted their target price on McDonald’s from $347.00 to $355.00 and gave the stock an “overweight” rating in a research report on Friday, May 2nd. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $322.00.

Check Out Our Latest Report on McDonald’s

Insider Activity at McDonald’s

In other McDonald’s news, CMO Edith Morgan Flatley sold 1,000 shares of McDonald’s stock in a transaction that occurred on Thursday, July 10th. The shares were sold at an average price of $300.00, for a total transaction of $300,000.00. Following the transaction, the chief marketing officer directly owned 8,858 shares of the company’s stock, valued at $2,657,400. The trade was a 10.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Joseph M. Erlinger sold 939 shares of McDonald’s stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $299.49, for a total transaction of $281,221.11. Following the completion of the transaction, the insider directly owned 9,283 shares of the company’s stock, valued at approximately $2,780,165.67. This represents a 9.19% decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,817 shares of company stock worth $1,147,992 over the last three months. Corporate insiders own 0.25% of the company’s stock.

McDonald’s Profile

(Free Report)

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.

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Institutional Ownership by Quarter for McDonald's (NYSE:MCD)

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