Elser Financial Planning Inc Cuts Stock Holdings in McDonald’s Corporation $MCD

Elser Financial Planning Inc lessened its holdings in McDonald’s Corporation (NYSE:MCD) by 3.4% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 1,115 shares of the fast-food giant’s stock after selling 39 shares during the period. Elser Financial Planning Inc’s holdings in McDonald’s were worth $334,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of MCD. HFM Investment Advisors LLC acquired a new stake in McDonald’s in the first quarter valued at approximately $26,000. Nova Wealth Management Inc. purchased a new stake in shares of McDonald’s during the 1st quarter valued at $26,000. Abound Financial LLC acquired a new stake in shares of McDonald’s in the 1st quarter worth $30,000. Redmont Wealth Advisors LLC purchased a new position in McDonald’s during the 1st quarter worth $31,000. Finally, Financial Gravity Asset Management Inc. acquired a new position in McDonald’s during the 1st quarter valued at about $31,000. Hedge funds and other institutional investors own 70.29% of the company’s stock.

McDonald’s Stock Performance

MCD opened at $305.10 on Monday. The company has a fifty day moving average of $306.48 and a two-hundred day moving average of $306.25. The stock has a market capitalization of $217.72 billion, a price-to-earnings ratio of 26.14, a PEG ratio of 3.11 and a beta of 0.49. McDonald’s Corporation has a fifty-two week low of $276.53 and a fifty-two week high of $326.32.

McDonald’s (NYSE:MCD) last posted its quarterly earnings data on Wednesday, August 6th. The fast-food giant reported $3.19 EPS for the quarter, topping the consensus estimate of $3.15 by $0.04. The company had revenue of $6.84 billion during the quarter, compared to analyst estimates of $6.68 billion. McDonald’s had a negative return on equity of 225.52% and a net margin of 32.21%.McDonald’s’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the business earned $2.97 EPS. On average, equities research analysts forecast that McDonald’s Corporation will post 12.25 earnings per share for the current year.

McDonald’s Dividend Announcement

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

Analysts Set New Price Targets

Several brokerages have weighed in on MCD. Loop Capital downgraded McDonald’s from a “buy” rating to a “hold” rating and lowered their price target for the stock from $346.00 to $315.00 in a report on Friday, June 6th. BMO Capital Markets upped their price target on shares of McDonald’s from $350.00 to $360.00 and gave the company an “outperform” rating in a research note on Thursday, September 4th. Citigroup raised their target price on McDonald’s from $373.00 to $381.00 and gave the stock a “buy” rating in a research note on Wednesday, September 17th. Redburn Atlantic reiterated a “sell” rating and issued a $260.00 price target (down previously from $319.00) on shares of McDonald’s in a report on Tuesday, June 10th. Finally, Evercore ISI raised their price target on shares of McDonald’s from $350.00 to $360.00 and gave the stock an “outperform” rating in a research report on Friday, August 8th. 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 stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $325.86.

Insider Buying and Selling at McDonald’s

In other news, insider Joseph M. Erlinger sold 939 shares of the business’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 transaction of $281,221.11. Following the transaction, the insider directly owned 9,283 shares in the company, valued at $2,780,165.67. The trade was a 9.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Desiree Ralls-Morrison sold 2,487 shares of McDonald’s stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $310.00, for a total value of $770,970.00. Following the transaction, the executive vice president owned 8,754 shares in the company, valued at approximately $2,713,740. The trade was a 22.12% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,402 shares of company stock valued at $2,273,407 over the last ninety days. 0.25% of the stock is currently owned by corporate insiders.

McDonald’s Company 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.