Smith Anglin Financial LLC Sells 52 Shares of McDonald’s Corporation $MCD

Smith Anglin Financial LLC cut its position in shares of McDonald’s Corporation (NYSE:MCD) by 1.8% in the second quarter, Holdings Channel reports. The institutional investor owned 2,809 shares of the fast-food giant’s stock after selling 52 shares during the period. Smith Anglin Financial LLC’s holdings in McDonald’s were worth $821,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of McDonald’s by 0.3% during the first quarter. Vanguard Group Inc. now owns 70,409,095 shares of the fast-food giant’s stock worth $21,993,689,000 after buying an additional 239,753 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of McDonald’s by 16.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 9,341,460 shares of the fast-food giant’s stock worth $2,917,993,000 after buying an additional 1,344,954 shares in the last quarter. Northern Trust Corp grew its holdings in shares of McDonald’s by 1.1% during the first quarter. Northern Trust Corp now owns 8,965,159 shares of the fast-food giant’s stock worth $2,800,447,000 after buying an additional 97,966 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of McDonald’s by 2.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,142,473 shares of the fast-food giant’s stock worth $1,606,354,000 after buying an additional 123,454 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in shares of McDonald’s by 19.6% during the first quarter. Goldman Sachs Group Inc. now owns 4,982,825 shares of the fast-food giant’s stock worth $1,556,485,000 after buying an additional 815,768 shares in the last quarter. 70.29% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

MCD has been the subject of a number of research reports. The Goldman Sachs Group upgraded McDonald’s from a “neutral” rating to a “buy” rating and set a $345.00 price objective for the company in a report on Thursday, July 10th. Truist Financial increased their price target on McDonald’s from $356.00 to $360.00 and gave the company a “buy” rating in a research report on Thursday, August 7th. Bank of America reduced their price target on McDonald’s from $327.00 to $322.00 and set a “neutral” rating for the company in a research report on Friday, July 18th. Morgan Stanley increased their price target on McDonald’s from $324.00 to $326.00 and gave the company an “equal weight” rating in a research report on Monday, July 14th. Finally, TD Securities reissued a “hold” rating and set a $305.00 price target on shares of McDonald’s in a research report on Thursday, June 5th. Eleven investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, McDonald’s has a consensus rating of “Hold” and an average target price of $325.86.

McDonald’s Stock Up 0.9%

MCD opened at $305.10 on Monday. McDonald’s Corporation has a 12-month low of $276.53 and a 12-month high of $326.32. The stock has a market cap of $217.72 billion, a price-to-earnings ratio of 26.14, a PEG ratio of 3.11 and a beta of 0.49. The business has a 50 day moving average of $306.48 and a 200-day moving average of $306.25.

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

McDonald’s Dividend Announcement

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

Insiders Place Their Bets

In related news, CMO Edith Morgan Flatley sold 1,000 shares of McDonald’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was 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 directly owned 6,858 shares of the company’s stock, valued at approximately $2,160,270. This trade represents a 12.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 sale, the insider directly owned 9,283 shares of the company’s stock, valued at approximately $2,780,165.67. The trade was a 9.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 7,402 shares of company stock valued at $2,273,407. Corporate insiders own 0.25% of the company’s stock.

About McDonald’s

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.