Hofer & Associates. Inc Reduces Stake in McDonald’s Corporation $MCD

Hofer & Associates. Inc cut its holdings in shares of McDonald’s Corporation (NYSE:MCD) by 17.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 831 shares of the fast-food giant’s stock after selling 171 shares during the quarter. Hofer & Associates. Inc’s holdings in McDonald’s were worth $243,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insider Transactions at McDonald’s

In other McDonald’s news, insider Joseph M. Erlinger sold 939 shares of McDonald’s stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $299.49, for a total value of $281,221.11. Following the transaction, the insider directly owned 9,283 shares in the company, valued at approximately $2,780,165.67. This trade represents a 9.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Jonathan Banner sold 1,000 shares of McDonald’s stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $310.00, for a total value of $310,000.00. Following the completion of the transaction, the executive vice president owned 99 shares in the company, valued at $30,690. This trade represents a 90.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,402 shares of company stock worth $2,273,407. 0.25% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on MCD shares. JPMorgan Chase & Co. increased their target price on McDonald’s from $305.00 to $310.00 and gave the stock an “overweight” rating in a research note on Thursday, August 7th. KeyCorp reissued an “overweight” rating and set a $335.00 target price (up previously from $325.00) on shares of McDonald’s in a research note on Thursday, August 7th. Piper Sandler increased their target price on McDonald’s from $314.00 to $325.00 and gave the stock a “neutral” rating in a research note on Thursday, August 7th. Redburn Atlantic reissued a “sell” rating and set a $260.00 target price (down previously from $319.00) on shares of McDonald’s in a research note on Tuesday, June 10th. Finally, Melius started coverage on McDonald’s in a research note on Monday, July 14th. They set a “sell” rating and a $250.00 target price on the stock. Eleven 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 stock presently has a consensus rating of “Hold” and a consensus price target of $325.86.

McDonald’s Stock Up 0.4%

NYSE:MCD opened at $303.47 on Tuesday. The stock’s 50 day moving average price is $306.09 and its 200 day moving average price is $306.29. The company has a market capitalization of $216.56 billion, a PE ratio of 26.00, a P/E/G ratio of 3.08 and a beta of 0.49. McDonald’s Corporation has a 52-week low of $276.53 and a 52-week high of $326.32.

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

McDonald’s Dividend Announcement

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