Thrive Wealth Management LLC Sells 80 Shares of McDonald’s Corporation $MCD

Thrive Wealth Management LLC lessened its stake in shares of McDonald’s Corporation (NYSE:MCD) by 2.4% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,268 shares of the fast-food giant’s stock after selling 80 shares during the period. Thrive Wealth Management LLC’s holdings in McDonald’s were worth $955,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in MCD. First American Trust FSB lifted its holdings in shares of McDonald’s by 55.9% in the 1st quarter. First American Trust FSB now owns 36,917 shares of the fast-food giant’s stock valued at $11,532,000 after acquiring an additional 13,234 shares during the last quarter. Banque Transatlantique SA lifted its holdings in shares of McDonald’s by 58.0% in the 1st quarter. Banque Transatlantique SA now owns 248,826 shares of the fast-food giant’s stock valued at $71,829,000 after acquiring an additional 91,313 shares during the last quarter. Hamilton Capital LLC lifted its holdings in shares of McDonald’s by 35.2% in the 1st quarter. Hamilton Capital LLC now owns 3,145 shares of the fast-food giant’s stock valued at $982,000 after acquiring an additional 819 shares during the last quarter. Red Door Wealth Management LLC lifted its holdings in shares of McDonald’s by 1.9% in the 1st quarter. Red Door Wealth Management LLC now owns 5,724 shares of the fast-food giant’s stock valued at $1,788,000 after acquiring an additional 109 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of McDonald’s by 5.6% in the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 345,319 shares of the fast-food giant’s stock valued at $107,867,000 after acquiring an additional 18,393 shares during the last quarter. Institutional investors own 70.29% of the company’s stock.

Analysts Set New Price Targets

MCD has been the subject of a number of analyst reports. Bank of America lowered their price target on shares of McDonald’s from $327.00 to $322.00 and set a “neutral” rating for the company in a report on Friday, July 18th. Piper Sandler increased their price target on shares of McDonald’s from $314.00 to $325.00 and gave the company a “neutral” rating in a report on Thursday, August 7th. Stifel Nicolaus raised their price objective on shares of McDonald’s from $300.00 to $315.00 and gave the stock a “hold” rating in a research note on Friday, August 22nd. Melius began coverage on shares of McDonald’s in a research note on Monday, July 14th. They issued a “sell” rating and a $250.00 price objective for the company. Finally, Evercore ISI raised their price objective on shares of McDonald’s from $350.00 to $360.00 and gave the stock an “outperform” rating in a research note on Friday, August 8th. Eleven equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $325.14.

Insider Activity

In other McDonald’s news, insider Joseph M. Erlinger sold 939 shares of the firm’s stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $299.49, for a total value of $281,221.11. Following the completion of the sale, the insider directly owned 9,283 shares in the company, valued at $2,780,165.67. This trade represents a 9.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CMO Edith Morgan Flatley sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $315.00, for a total transaction of $315,000.00. Following the completion of the sale, the chief marketing officer owned 6,858 shares of the company’s stock, valued at approximately $2,160,270. This trade represents a 12.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 8,341 shares of company stock valued at $2,544,327 in the last ninety days. 0.25% of the stock is currently owned by insiders.

McDonald’s Stock Up 0.4%

Shares of MCD stock opened at $303.41 on Wednesday. The firm has a market cap of $216.51 billion, a price-to-earnings ratio of 26.00, a PEG ratio of 3.08 and a beta of 0.50. The company’s 50 day moving average is $305.73 and its 200 day moving average is $306.50. McDonald’s Corporation has a 52-week low of $276.53 and a 52-week high of $326.32.

McDonald’s (NYSE:MCD) last issued its quarterly earnings data on Wednesday, August 6th. The fast-food giant reported $3.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.15 by $0.04. The company had revenue of $6.84 billion for the quarter, compared to analyst estimates of $6.68 billion. McDonald’s had a net margin of 32.21% and a negative return on equity of 225.52%. McDonald’s’s revenue was up 5.4% compared to the same quarter last year. During the same period last year, the company posted $2.97 earnings per share. Analysts anticipate that McDonald’s Corporation will post 12.25 EPS for the current fiscal year.

McDonald’s Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd were paid a $1.77 dividend. This represents a $7.08 annualized dividend and a yield of 2.3%. The ex-dividend date was Tuesday, September 2nd. McDonald’s’s dividend payout ratio (DPR) is 60.67%.

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.